Investors in AIM listed Leni Gas & Oil (LGO) have had a wild ride over the last few years. The shares that traded at over 3p in 2011 and a lot more than that in prior years, currently sit at 0.86p after 14% rise on Friday, down 27% in the last year.

So another delay in Rockhopper Exploration’s development of the Sea Lion discovery in the North Falklands with news that it has completed the concept selection process for the field with its partner Premier Oil.

The farm out deal amongst small cap oil and gas companies is far from over. With small cap AIM oil and gas investors in the likes of Bowleven and Xcite Energy waiting for their farm out news on Bonomo and Bentley, it appears that the big guys still have an appetite for an investment which can produce a very healthy return indeed for investors.

A report today that Statoil is considering a major acquisition seems to have rejuvenated a few names in the oil and gas sector. Tullow oil was up nearly 7% on reports it is looking at reducing its focus on Norway and potentially for the government looking to cut its stake from 67% to 51%.

Its amazing what a listing on Nasdaq can do for you if you a biotechnology/biophamecutical company right now. The appetite from U.S. investors for anything in the sector seems insatiable.