Bahamas Petroleum director buys

AIM-quoted Bahamas Petroleum Company's non-executive director Dursley Stott has invested nearly £16,000 in the oil and gas explorer's shares.

Stott bought 100,000 shares at 15.825p each. This takes his stake to 315,000 shares. Stott is based in the Isle of Man, where BPC is domiciled, having switched from the Falkland Islands in May 2010.

BPC chairman Alan Burns has been a seller in recent months. He has raised just over £2.1m from share disposals and still owns 2.65% of BPC.

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The share price has increased by more than 430% in the past year with most of that gain coming in the last quarter of 2010. This rise followed positive results from a seismic programme for its licenses next to Cuban waters. At the end of September 2010, BPC raised £5.1m at 42.5p a share.

BPC recently signed an agreement with the Osprey Navigation Company to conduct a survey over four of its licenses in the Bahamas.

The Bahamas government is not agreeing to drilling applications until stringent environmental procedures are put in place to guard against disastrous leak like the one suffered by BP in the Gulf of Mexico. Top Director Buys

Graphite Enterprise Trust (GPE) Director name: Mr Jeremy TigueAmount purchased: 16,279 @ 305.00p Value: £49,651

Bahamas Petroleum Co (BPC) Director name: Mr Robert Thomas Dursley Stott Amount purchased: 100,000 @ 15.82p Value: £15,820

Top Director Sells

Chemring Group (CHG) Director name: Mr Paul A RaynerAmount sold: 9,677 @ 3,322.00p Value: £321,470

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