Jersey Oil and Gas (LON:JOG) Trading 16.5% Higher – Here’s Why

Jersey Oil and Gas Plc (LON:JOG) shares shot up 16.5% during trading on Wednesday . The stock traded as high as GBX 73.95 ($0.92) and last traded at GBX 73.95 ($0.92). 267,756 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 150,495 shares. The stock had previously closed at GBX 63.50 ($0.79).

Jersey Oil and Gas Stock Performance

The firm has a fifty day simple moving average of GBX 57.96 and a 200-day simple moving average of GBX 69.04. The stock has a market cap of £24.24 million, a price-to-earnings ratio of -463.75 and a beta of 0.96. The company has a current ratio of 69.26, a quick ratio of 18.80 and a debt-to-equity ratio of 0.40.

About Jersey Oil and Gas

Jersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a significant acreage position within the Central North Sea referred to as the Greater Buchan Area, which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 88% working interest in the P2170 Licence, Blocks 20/5b & 21/1d, that contains the Verbier oil discovery.

JOG’s acreage is estimated by management to contain more than 140 million barrels of oil equivalent (“boe”) of discovered mean recoverable resources net to JOG, in addition to significant exploration upside potential.