Company chairman of Leni Gas & Oil David Lenigas topped up his stake in the firm just one day after announcing the acquisition of Goudron E&P firm Sorgenia International.
Mr Lenigas bought 3m shares at 1.26p per share for £37,800, taking his total holding in the company to 14.69%.
Company director Neil Ritson also dug deep, buying 5m shares at 1.25p each.
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The £62,500 move brought Ritson's total holding to 12.5m ordinary shares, representing 1.36% of the total issued share capital.
In addition, Ritson will be granted 20m ordinary shares upon the company share price reaching 20p prior to 31 December 2012.
Leni G&O bought Goudron E&P on Monday for an initial $1m, with a further £1m to be paid on the successful completion of the transaction.
Despite the recent good news, which also saw the firm announce a three year equity line facility of up to £5m, the company's share price has still fallen 3.51% in the last year. Last month, the group announced that despite rising revenue, pre-tax losses have widened after group administration costs hit £940,000 for the six months to the end of June.
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Director name: Mr Edward F G Nealon
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Director name: Mr Neil Ritson
Amount purchased: 5,000,000 @ 1.25p
Value: £62,500
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Director name: Mr Roger McDowell
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Value: £37,800
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