Just when I was thinking it was only AIM oil and gas that was cursed by bad news and lack of transparency, the turmoil at Berkeley Mineral Resources (BMR) caught my eye. BMR is focused on developing the extraction of Lead and Zinc from tailings deposits at former mines in Northern Zambia.

Well what can I say! Holding shares in North sea focused oil explorer Xcite Energy has always been associated with a roller coaster of emotions but this morning’s RNS detailing the company’s results for the year ending 2013 and updating the market on the company’s progress on the development of its 257 million barrel North Sea Bentley Heavy oil field certainly left me with a sinking feeling in the stomach at 7am!

AIM favourite, Caza Oil and Gas (CAZA) published its annual results for 2013 today. The shares are 3% higher today at 8.25p to buy.

It has been quite a week or two for shareholders in Gulf Keystone Petroleum. After a disappointing reserves report last week which saw the company’s share plummet there were more shocks in store yesterday as the company prepares for its main LSE listing on March 25.

There were no surprises that the Fed’s asset purchase programme would continue to be tapered with a further $10 billion cut to $55 billion a month from April. The shock came regarding the timetable for a rise in rates when it became clear that US interest rates would probably start rising in early 2015.

Yesterday Range Resources issued its half year report for the period ending December 31st 2013. It wasn’t good news for long suffering shareholders. The real sting the tail was the issue of yet more shares with another 126,346,484 new shares to be admitted to trading on ASX and AIM on 21 March 2014.

The S&P 500 index has finised 2013 at 1,848 and presently sits at 1,855, broadly flat so far in 2014. It has been healthcare and utilities, overcoming weakness in telecoms, energy and industrials.

Cairn Energy isn’t having much luck these days after the glory days of 1999-2004 in India’s Rajasthan area. It found large amounts of oil in the Guda field (1999), followed by Saraswati (2001), Mangala (2003) and Mangala fields (2004). Cairn sold 58.5% of Cairn India for $8.67 billion in August 2010 to Vedanta Resources, with the company selling $5.5 billion of shares.

All hell broke loose on Thursday morning in the AIM oil and gas sector after Kurdistan focused oil explorer/producer, Gulf Keystone Petroleum (GKP), issued an operational update and a competent persons report (CPR), prepared by ERC Equipoise, quantifying the company’s oil reserves which unfortunately came in below expectations.

The sell off in the markets was short lived as the major stock indices recorded heavyweight gains yesterday. The change in sentiment was triggered by news from the Ukraine President Vladimir Putin ordered troops back to base after the completion of military exercises.