Shares in UK oil minnows Desire Petroleum, Rockhopper Exploration and Falklands Oil and Gas were on the rise yesterday on speculation Desire could announce an oil discovery in the south Atlantic as early as the end of this week.
The administration of Oilexco North Sea Limited (ONSL) earlier this year marked a milestone for the oil&gas industry as ONSL was the first major oil exploration, production and development company to be rescued out of an insolvency process.
A bigger-than-expected hit from steeply falling oil prices at the end of last year has weighed on BP despite annual profits soaring 39% to a record £18.1billion.
BOWLEVEN, the Scottish oil and gas company which focuses on Africa, said yesterday it had numerous attractive investment oppor-tunities in its portfolio.
