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In recent weeks, investors have been focused on small cap oil and gas companies that do not have exposure to Libya and other troubled spots, but stand to benefit from oil's recent spike in price. While analyst consensus is that the world can function without Libya's exports, Victor Shum, an energy analyst at Purvin and Gertz, warns "the worry is about what's next. What if protests persist in Iran and things get out of hand?" The Bedford Report examines the outlook for companies in the Oil and Gas sector and provides research reports on Abraxas Petroleum Corporation (NASDAQ:AXAS - News) and Samson Oil & Gas Ltd. (AMEX:SSN - News). Access to the full company reports can be found at:

www.bedfordreport.com/2011-03-AXAS

www.bedfordreport.com/2011-03-SSN

Riding small-cap energy's huge 2011 run, shares of Samson Oil & Gas hit new 52 week highs earlier this month. Last week the company reported that gross profit for the first half of 2010 increased 69 percent to $1.3 million from $0.7 million for the year-ago period. Net assets at the end of the period increased to 476.6 million from $25.1 million at the beginning of the period.

The Bedford Report releases regular market updates on the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.