Drilling successes may have seen 2011 end on a positive note for junior oil and gas companies, but ever-tightening credit markets mean they remain vulnerable to takeover by their larger peers, according to the latest Ernst & Young Oil and Gas Eye.
The index, which monitors the activity of AIM-listed oil and gas companies, ended the year 22% lower than at the start of 2011 compared to the gains of 123% and 47% made in 2009 and 2010 respectively.
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