Kurdistan oil explorers fall as militants seize oilfields

|By:, SA News Editor

Shares tumble in explorers of oil in Iraq's Kurdistan region after Islamic militants seized two oilfields in the region.

DNO International (OTCPK:DTNOF), which produces about two-thirds of its from the Kurdish region, posted its biggest drop in Oslo trading in more than six months; while Genel Energy (OTCPK:GEGYF -1.8%) and Gulf Keystone (OTCPK:GUKYF -3.3%) also are falling sharply.

The recent progress made by ISIS in advancing toward Kurdish areas is creating fear among investors, says a Carnegie analyst.