News today that Xcite Energy (XEL) have refinanced their outstanding debt via a private placement with Canadian based West Face Capital Inc. for a year to two year period. The shares are up a couple of pence versus a declining oil sector.

There were quite a few broker notes last week on Gulf Keystone Petroleum (GKP). One of these is Edison who reckon the company is worth just 176p on a risked NAV basis.

On 6th December 2013, the end game for Falklands hydrocarbon explorer Desire Petroleum (DES) finally came with the following RNS signaling the merger with fellow Falklands Islands oil explorer, Falklands Oil and Gas (FOGL). It might be argued that this signals an end of an era, but more likely the end of one chapter of the Falklands saga.

An announcement today from Cameroon focused oil and gas explorer, Bowleven with the directors being awarded significant numbers of shares under a long term incentive programme. Given the bombed out state of the share price at 37.5p when the award was made, Kevin Hart (the Chief Executive) and the board of directors must be feeling very pleased with themselves!

For many AIM oil and gas investors it probably has been tough over the last two years. Some of the oil shares which have been most popular with private investors like the Falklands drillers – Falklands Oil and Gas (FOGL), Desire Petroleum (DES) and Borders and Southern (BOR) haven’t fared well.