James Buckee, chairman of the North Sea-focused oil and gas group Enquest, has taken advantage of weakness in the share price to up his stake.
He took 50,000 shares at 97.75p a time, spending a total of £48,875. He now has 481,617 shares in the company.
Shares in Enquest have taken a sharp dive since the start of the month, when Buckee took 50,000 shares at 110.2p a time. The shares fell after Enquest said that production from its Conrie field, which was discovered earlier this year, came on production at lower than expected rates.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Buckee, who has a PhD in Astrophysics, worked for Shell from 1971 to 1977 and for Burma Oil from 1977 to 1987. He then worked at BP rising to chief operating officer of its Canadian operations, becoming chief executive of Talisman Energy (the former BP Canada) in 1993. He became chairman of Enquest in 2010.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
