In imperfect markets, minnows’ role in frontier plays in question

Small companies raising capital on junior markets remain the lifeblood of frontier oil exploration, but critics say that Londons AIM must make more rigorous checks on companies that list. Guinea and Liberia are among those that have found that a minnows interest, industry contacts and ability to raise funds are not alone sufcient to launch an industry in their fragile economies, write Thalia Grifths and Jon Marks.