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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Why you need a £1 million pension for a comfortable retirement
Feature Research suggests younger savers need to put more into their pension to account for inflation and housing costs ahead of retirement. We explain how to build a £1 million pension pot
By Marc Shoffman Published
Faulty coins worth up to £1,000 – do you own one?
A recent auction fetched £1,000 for a £2 coin with a ‘rare’ error on it. How can you spot these coins and how much could you get for them?
By Vaishali Varu Published