Jill Ralph and Maynard Paton discuss Falkland Oil & Gas (LSE: FOGL), an oil explorer that recently owned up to poor drilling news and saw its shares crash 50%. However, a sizable cash hoard could now limit the downside at this unpredictable small cap.

The resources sector has always provided its fair share of falling knives that can persuade even the most cautious of investors to take a wild punt. If Falkland Oil & Gas tempts you, please click here to read the Fool's exclusive oil and gas report before you hit the buy button.

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Neither Maynard Paton nor Jill Ralph own shares in Falkland Oil & Gas. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.