Jersey Oil and Gas (LON:JOG) Shares Down 9.2% – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG) shares fell 9.2% during trading on Wednesday . The company traded as low as GBX 64 ($0.81) and last traded at GBX 64 ($0.81). 191,818 shares traded hands during trading, an increase of 64% from the average session volume of 117,236 shares. The stock had previously closed at GBX 70.50 ($0.89).

Jersey Oil and Gas Price Performance

The business has a 50-day simple moving average of GBX 63.41 and a 200 day simple moving average of GBX 63.85. The firm has a market cap of £20.73 million, a P/E ratio of -3.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 18.80 and a current ratio of 69.26.

Jersey Oil and Gas Company Profile

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.