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Creativity needed

CAPITAL constraints are forcing junior oil and gas firms to consider more creative funding options, research from Ernst & Young (EY) has found.

EY's Oil and Gas Eye Index, which monitors the sector's AIM-listed companies, fell 6% during 2013.

The firm's oil specialist, Barry Fraser, said: "Market conditions remain tough for most junior oil and gas companies. There were faint signs of increased investor confidence towards the tail-end of last year, but it doesn't appear likely that they will be carried forward."

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