Jersey Oil and Gas (LON:JOG) Stock Price Down 14% – Here’s Why

Jersey Oil and Gas Plc (LON:JOG)’s share price dropped 14% during mid-day trading on Friday . The company traded as low as GBX 51.50 ($0.66) and last traded at GBX 52 ($0.67). Approximately 1,204,557 shares were traded during trading, an increase of 535% from the average daily volume of 189,748 shares. The stock had previously closed at GBX 60.50 ($0.78).

Jersey Oil and Gas Trading Down 12.4 %

The stock has a 50 day simple moving average of GBX 65.56 and a 200-day simple moving average of GBX 62.98. The firm has a market capitalization of £17.43 million, a P/E ratio of -3.27 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.