Speculative Oil Play - Blue Dolphin Energy

Many small oil companies have seen their shares skyrocketed for the past week on triple digit oil price due to instability in North African and Middle East.  Some stock like San Diego based Royale Energy (Nasdaq:ROYL) has already gained an amazing 280% to $7.58 per share and is still going up.  Another one of these high flying speculative small oil company is Blue Dolphin Energy(Nasdaq:BDCO).  Shares of the Houston based oil company were traded at $2.6 per share two weeks ago and are traded at $8.73 per share already at the moment, gaining 235% during the period.  The company's oil and gas operations are in the Gulf of Mexico and offshore Indonesia, away from the war zone which is probably why the stock attracts a lot of speculative play as well.  This was a $50 per share stock back in 2006 so there is a lot of room to grow if the oil price spike continues.  But do be aware any speculative play will mean high volatility.