Orca Energy Group Inc. (OTCMKTS:ORXGF) Sees Large Decrease in Short Interest

Orca Energy Group Inc. (OTCMKTS:ORXGF) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 3,396 shares, a decline of 75.8% from the September 30th total of 14,010 shares. Based on an average daily trading volume, of 9,196 shares, the days-to-cover ratio is presently 0.4 days.

Orca Energy Group Stock Performance

OTCMKTS ORXGF opened at $0.66 on Friday. Orca Energy Group has a 12-month low of $0.66 and a 12-month high of $3.75. The business’s 50 day moving average is $1.68 and its two-hundred day moving average is $2.27.

Orca Energy Group Company Profile

Orca Energy Group Inc is an independent natural gas company focused on the development, production and sale of natural gas in Tanzania. Through its subsidiary, PanAfrican Energy Tanzania Limited, the company operates the Songo Songo gas project, located off the coast of mainland Tanzania.

The Songo Songo project includes offshore production wells, a gas processing facility and related transportation infrastructure. Orca supplies natural gas to Tanzania’s power-generation sector and to industrial and commercial customers, supporting electricity production and the replacement of more expensive liquid fuels.

The company has historically concentrated its operations in Tanzania and has worked with government and local energy-sector entities to expand the use of domestic natural gas.