Blue Dolphin Surfaces
Shares of Blue Dolphin (Nasdaq:BDCO), a company searching for oil in the carribean gained 28%. The company explores possible oil fields and operates offshore oil rigs as well as two oil piplines and a third pipeline on the way. Recently there have been sturggles, Blue Dolphin has spent a great deal of effort looking for oil and has not found significant reserves. A few days ago Blue Dolphin entered into an agreement where its Galveston 350 will be used by a client for over 11 months. On top of this high oil prices have made Blue Dolphin hot. The company had huge momentum today driving prices near $5.80/share.