Despite reporting a much larger loss in its full-year results which were released today, Rockhopper’s (LSE: RKH) share price is still marginally higher today. That may be surprising to some investors since its loss increased from $7m in 2014 to $44m in 2015, with Rockhopper’s impairments and exploration costs increasing rapidly.

Still, the company continues to have a relatively strong balance sheet, with cash resources of $110m. And with significant progress having been made in advancing the Sea Lion development during the year, Rockhopper appears to be making encouraging progress in what was a transitional year.

Furthermore, Rockhopper has strengthened its asset base via the acquisition of Falkland Oil & Gas, and it appears to be in a better position as a consequence to deliver profitability in the long run. Certainly, its performance depends on the price of oil and on progress made in unlocking the potential value from its asset base. But with production increasing in its Mediterranean assets and the scope to develop its other assets, it may be of interest to less risk-averse investors.

Risky bet?

Also releasing news today was Victoria Oil & Gas (LSE: VOG). Its shares have risen by around 10% after it announced a $26m debt facility that will support its production expansion at Logbaba through 2016 and 2017. This is encouraging news for the company, since it now expects to increase gas production from the Logbaba project by 30% following the 107% increase in average daily production in 2015.

The move may be seen as positive by the company’s investors since it means there’s no need to raise the funds from shareholders. And with Victoria Oil & Gas maintaining a prudent view on its gearing levels, the outlook for the business remains relatively encouraging. As such, it could be of interest to less risk-averse investors, although with there being so many other opportunities among larger oil and gas plays that arguably have less risk, most investors may prefer to look elsewhere first.

Business momentum

Meanwhile, shares in iEnergizer (LSE: IBPO) have risen by a whopping 65% today after it announced a very positive trading update. The digital publisher and technology company expects to announce a significant increase in EBITDA (earnings before interest, tax, depreciation and amortisation) for the year to 31 March 2016, which is above and beyond its previous target. The reason for this is a combination of renewed business momentum, contract wins and the successful implementation of a transformation plan.

As a result of today’s positive update, investor sentiment in iEnergizer has markedly improved and this could push its share price higher over the short run. And while this may lead less risk-averse investors to become interested in the stock, it may be prudent to await further details of the company’s improved performance before buying a slice of it.

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Peter Stephens has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.