Petroceltic duo buy stakes

Two directors at Petroceltic International have added to their holdings in the Irish oil company.

Chief executive Brian O'Cathain took 1m shares at 5.2p a time and now has 3.78m, about 0.16% of the company. Finance director Alan McGettigan took 1.12m shares at 5.3p a pop and now has 4.18m.

The share purchases come soon after Petroceltic said it has managed to get more gas flowing out of its AT-8 well on the Ain Tsila discovery in Algeria through a process called fracture stimulation, which creates a crack in the rock that allows trapped gas to escape.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Top Director Buys

Petroceltic International (PCI)

Director name: Mr Alan McGettigan

Amount purchased: 1,115,968 @ 5.30p

Value: £59,146

Petroceltic International (PCI)

Director name: Mr Brian O'Cathain

Amount purchased: 1,000,000 @ 5.20p

Value: £52,000

Quindell Portfolio (QPP)

Director name: Mr Laurence Moorse

Amount purchased: 911,085 @ 1.70p

Value: £15,488