This paper presents the results of an experimental study of the stability of foamy oil created by liberation of dissolved gas. Experiments were conducted in a high pressure cell. The volume of foamy oil produced, either by a step reduction in pressure or by a gradual (linear) reduction in pressure, and its subsequent decay were observed visually. The effects of oil viscosity, asphaltene content, height of the oil column, dissolved gas content and pressure decline rate were investigated. The experimental results show that foamy oil stability increases with higher oil viscosity, higher oil column, higher dissolved gas content and higher pressure decline rate. Asphaltene content was not observed to increase the foamy oil stability significantly. The results also show that the foam quality of foamy oils is much lower than aqueous foams.