Junior oil explores seek paydirt

Like the explorers of old, independent oil and gas producers have left the beaten track in their quest for new sources of the commodities to develop. Their explorations in remote corners of Asia and Africa are beginning to yield some major results. Tamsin Carlisle reports

While many oil companies have cut back investment during the downturn, a band of feisty, independent producers have persevered with efforts to find and develop oil and gas in corners of the globe that “Big Oil” has shunned.

Several are poised for success in parts of Asia and Africa that have yet to make their marks as major producing regions. But the companies’ exploits have not been free of trouble.