News Flash!

Oil strike sends Faroe shares higher

(Published 22nd July 2010)

• Shares in AIM-listed Faroe Petroleum (ticker: FPM) 'gap up' 20% to trade at a 2010 high of 165p after it announces an oil find in the Norwegian Sea. The shares are up 194% on the price 12 months ago.
• Faroe estimates gross recoverable volumes of oil in the range of 75 to 155 million barrels of oil with associated gas.
• The company is planning to drill three more exploration wells in the region 'and will all be targeting substantial oil prospects.'

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• Enegi (ticker: ENEG) rose by an impressive 173% when they recommenced drilling on their oil and gas well in Canada...
• Gulf Keystone Petroleum (ticker: GKP) shot up by an amazing 276% after announcing a 5.3 billion barrel oil discovery in Iraq's Kurdistan region...

Of course not every small cap has been a roaring success - that would be impossible to expect:

• For example, Max Petroleum (ticker: MXP) has fallen 33% in the same period.

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