Orcadian Energy Plc (ORCA) AI Stock Analysis

• Market Cap: £15.80M
• Dividend Yield: N/A
• Average Volume (3M): 22.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.43
• Revenue Growth: N/A
• EPS Growth: 27.27%
• Country: UK
• Employees: 4
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): >-0.01
• Shares Outstanding: 79,000,410
• 10 Day Avg. Volume: 10,741
• 30 Day Avg. Volume: 22,264
• PEG Ratio: 0.00
• Price to Book (P/B): 6.12
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -104.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: 21.50p ▲(72.00% Upside)

The score is held back primarily by very weak financial performance (minimal/zero revenue, recurring losses, and ongoing negative operating/free cash flow). Technicals are supportive due to a strong uptrend above key moving averages, but the stock appears extremely overbought, increasing near-term downside risk. Valuation is also a negative factor given loss-making earnings (negative P/E) and no dividend yield support.

Positive Factors

UK North Sea focus

A focused upstream strategy in the UK North Sea concentrates operational and regulatory expertise in a mature basin with existing infrastructure and service supply. That reduces exploration execution risk, aids partner engagement and supports progressing discoveries toward commercial development over the next months.

Clear asset monetization pathways

A defined business model with multiple monetization routes (production, farm-outs, partial/full disposals) gives management flexibility to de-risk projects, secure partner funding or realize value via transactions, supporting durable funding and execution options across project timelines.

Improving cash burn in 2025

Meaningful reduction in cash burn in 2025 versus prior years signals improving operational cash dynamics. If sustained, lower negative cash flow reduces near-term financing needs and the probability of dilutive capital raises, improving the company’s runway to reach development milestones.

Negative Factors

Minimal or zero revenue

Lack of meaningful revenue and recurring operating/net losses indicate the business is pre-revenue and dependent on external funding. Without sustained revenue, the company cannot self-fund development, increasing execution risk and reliance on partners or capital markets over the next several months.

Persistent negative cash flow

Consistent negative operating and free cash flow demonstrates the business is burning cash to advance projects. Persistent cash burn heightens refinancing and dilution risk, constrains the ability to fund capex or appraisal work internally, and pressures project timelines and partner negotiations.

Rising leverage and negative ROE

Increasing leverage and negative returns on equity show the capital base is not producing profits and fixed obligations are rising. Higher leverage reduces financial flexibility, raises funding costs and can complicate securing non-dilutive partner funding for development projects over the medium term.

Orcadian Energy Plc Business Overview & Revenue Model

Company Description

Orcadian Energy PLC, together with its subsidiaries, operates as an oil and gas development company in the United Kingdom. It has four licences. The company's key asset is the 100% interest in the Pilot Field with audited proven and probable reserves of 79 million barrels. Orcadian Energy PLC was founded in 2014 and is based in London, the United Kingdom.

How the Company Makes Money

Orcadian Energy Plc generates revenue primarily through the exploration and production of oil and gas resources. The company monetizes its assets by extracting hydrocarbons from its licensed offshore fields and selling the produced oil and gas to refineries and wholesale distributors. Revenue streams are largely influenced by the market prices for oil and gas, production volumes, and operational efficiencies. The company may also enter into joint ventures or partnerships to share the financial and operational risks associated with large-scale energy projects, thereby optimizing its revenue potential.

Orcadian Energy Plc Financial Statement Overview

Summary

Financials remain weak: revenue has been minimal to zero in recent years with recurring operating/net losses. The balance sheet has improved to positive equity, but leverage has risen and returns on equity are negative. Cash flow is persistently negative (ongoing cash burn), despite some improvement in 2025 versus prior years.

Income Statement

The income statement remains very weak. Revenue has been minimal to zero in most years (2025 and 2024 show zero revenue, with only 2023 showing modest revenue), and profitability is consistently negative with sizable operating losses and net losses across the period. Margins are not improving in a meaningful way, reflecting a business that is still largely pre-revenue and absorbing high costs relative to its revenue base.

Balance Sheet

The balance sheet is mixed but has improved versus earlier years. Equity is positive in recent years (after being negative in 2021), and total assets have grown versus 2020–2021. However, leverage has been rising recently, with debt-to-equity increasing from roughly 0.31 (2022) to ~0.83 (2025), and returns on equity are negative in most years, highlighting that the capital base is not yet generating profits.

Cash Flow

Cash flow quality is pressured by persistent cash burn. Operating cash flow and free cash flow are negative every year shown, indicating ongoing funding needs. There is improvement in cash burn in 2025 versus 2022–2024 (meaningfully less negative), but cash generation is still not self-sustaining and free cash flow remains below zero.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	128.04K	0.00	0.00
Gross Profit	-1.05K	-1.05K	―	-1.82K	-674.00	-217.00
EBITDA	-327.82K	-742.02K	-831.60K	-1.10M	-1.54M	-332.19K
Net Income	-436.34K	-884.91K	-938.00	-1.18M	-1.59M	-296.34K
Balance Sheet
Total Assets	4.82M	4.82M	4.65M	4.03M	4.63M	2.08M
Cash, Cash Equivalents and Short-Term Investments	77.24K	77.24K	214.98K	109.70K	271.44K	179.56K
Total Debt	1.18M	1.18M	1.10M	991.34K	956.18K	1.86M
Total Liabilities	3.40M	3.40M	2.34M	1.56M	1.51M	2.19M
Stockholders Equity	1.42M	1.42M	2.31M	2.47M	3.12M	-106.73K
Cash Flow
Free Cash Flow	54.72K	-83.17K	-1.00M	-1.60M	-2.67M	-844.96K
Operating Cash Flow	54.72K	-83.17K	-489.79K	-598.16K	-1.32M	-312.19K
Investing Cash Flow	-136.78K	-136.78K	-175.44K	-998.77K	-1.35M	-532.77K
Financing Cash Flow	82.22K	82.22K	770.50K	1.44M	2.77M	993.20K

Orcadian Energy Plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ORCA, the sentiment is Positive. The current price of 12.5 is below the 20-day moving average (MA) of 17.12, below the 50-day MA of 14.99, and above the 200-day MA of 11.52, indicating a bullish trend. The MACD of 1.71 indicates Negative momentum. The RSI at 72.84 is Negative, neither overbought nor oversold. The STOCH value of 73.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ORCA.

Orcadian Energy Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
STAR	55 Neutral	£13.75M	-1.00	-29.57%	―	-20.85%	-105.70%
ANGS	54 Neutral	£11.97M	-1.14	-21.11%	―	-12.15%	-200.00%
CAD	53 Neutral	£11.93M	-2.68	-16.91%	―	-29.63%	-427.78%
ORCA	49 Neutral	£15.80M	-17.39	―	―	―	27.27%
RBD	47 Neutral	£10.70M	-3.50	-7.32%	―	―	―
PXEN	42 Neutral	£12.86M	300.00	0.21%	―	―	―

Orcadian Energy Plc Corporate Events

Orcadian Energy Secures Overwhelming Shareholder Backing at AGM

Orcadian Energy plc reported that all resolutions put to shareholders at its Annual General Meeting on 29 January 2026 were duly passed by overwhelming majorities, with each ordinary and special resolution receiving more than 99.99% of votes cast in favour. The strong shareholder backing provides clear governance support for the company’s current strategic direction, including its partnership-led, low-emissions development of the Pilot oilfield and broader North Sea portfolio, reinforcing management’s mandate as it advances its carried interest in Pilot and progresses newly awarded licences in oil and gas discoveries and prospects across the UK Continental Shelf.

The most recent analyst rating on (GB:ORCA) stock is a Hold with a £20.00 price target. To see the full list of analyst forecasts on Orcadian Energy Plc stock, see the GB:ORCA Stock Forecast page.

Orcadian Energy Calls January AGM After Publishing 2025 Annual Report

Orcadian Energy has distributed its annual report and accounts for the year ended 30 June 2025 to shareholders and has formally called its Annual General Meeting for 29 January 2026 in London. The publication of the results and the scheduling of the AGM mark a key governance milestone for the AIM-listed oil and gas developer, providing investors with an opportunity to review performance and engage with management on the company’s strategy and outlook.

The most recent analyst rating on (GB:ORCA) stock is a Hold with a £12.00 price target. To see the full list of analyst forecasts on Orcadian Energy Plc stock, see the GB:ORCA Stock Forecast page.

Orcadian Energy Steadies North Sea Strategy as New Tax Regime Eases UK Oil and Gas Uncertainty

Orcadian Energy reported audited results for the year to 30 June 2025, noting that political and regulatory upheaval in the UK, including an increased and extended Energy Profits Levy, loss of investment incentives and a pause in licensing, slowed operational progress but left the company confident in the long-term value of its North Sea portfolio. During and shortly after the period, Orcadian secured key licence extensions for its viscous oil assets, advanced plans for the Earlham gas and carbon storage project aimed at supplying power to data centres along the M25 corridor, confirmed Pilot field modelling with new operator Ping that aligned with its prior work, outlined a new development concept for the Lowlander reservoir, and completed a small convertible loan note fundraising to support working capital. Management highlighted that the newly defined Oil and Gas Price Mechanism, which will replace the Energy Profits Levy from 2030, substantially reduces fiscal uncertainty on the UK Continental Shelf and is expected to catalyse a new wave of investment, positioning Orcadian’s carried-interest strategy and existing asset base to benefit as the industry resumes project sanctioning under a more predictable tax framework.

Orcadian Energy Raises Working Capital via £500,000 Convertible Loan Notes

Orcadian Energy has created £500,000 of unsecured convertible loan notes, raising £322,500 to date from existing and new investors, with the remaining balance expected by the end of January 2026, to bolster working capital as it pursues multiple near-term North Sea development and exploration projects. The notes, which carry 10% annual interest, mature on 31 January 2028 and are convertible at 13.5p per share, giving the company a flexible funding mechanism as management positions the business to benefit from what it views as a forthcoming resurgence in the UK oil and gas sector driven by greater fiscal certainty and attractive tax offsets for exploration and development expenditure.

Orcadian Energy Secures Extension for Pilot Licence P2244

Orcadian Energy Plc announced that the North Sea Transition Authority has approved a three-year extension for the Pilot Licence P2244, now expiring on December 1, 2028. This extension allows Orcadian and its partners to further develop a low-emissions field development plan for the Pilot field, which could become a significant low-carbon hub in the Central North Sea. The company aims to maximize oil recovery and minimize carbon emissions, aligning with the anticipated post-EPL fiscal regime. The extension is crucial for Orcadian’s strategy to enhance its industry positioning and stakeholder value.

Orcadian Energy and IPC Unveil Low-Carbon Power Initiative at ADIPEC

Orcadian Energy Plc, in collaboration with The Independent Power Corporation Plc (IPC), showcased its Earlham gas field project at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). The project aims to supply gas to a power station, providing clean electricity to data centers in the UK, with plans to reinject carbon dioxide to enhance gas recovery. This initiative positions Orcadian as a key player in delivering low-carbon energy solutions, potentially impacting the energy supply for large data centers and advancing the company’s strategic goals.

Orcadian Energy and IPC Collaborate on Low-Carbon Power Project

Orcadian Energy Plc, in collaboration with The Independent Power Corporation (IPC), is advancing plans to develop the Earlham gas field to supply clean power to data centers in the UK. At the ADIPEC conference, IPC showcased the project as a model for decarbonization, emphasizing the reinjection of carbon dioxide to enhance gas recovery. This initiative aligns with Orcadian’s strategy to deliver low-carbon energy solutions, potentially positioning the company as a key player in the UK’s energy transition.