BG boss raises more than £1m

BG Group chief executive Frank Chapman has raised more than £1m by selling shares in the oil and gas explorer and producer.

Chapman sold 85,000 shares at £12.80 each, which leaves him with 1.91m shares in BG, which was spun out of British Gas in 1997.

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BG posted earnings of $978m for the three months to September 2010, up from $768m a year earlier. Profit from continuing operations leapt from $818m to $922m, easily beating estimates. Revenue jumped 22% to $4.44bn.

BG thinks there's an extra 2.7 billion barrels of oil equivalent (boe) at its oilfields in the Santo Basin offshore Brazil, 34% more than previous estimates. So-called P90 estimates - a low-case resources estimate with a 90% probability of being realised - are put at 8.3bn boe.

Top Director Buys

Aseana Properties Ltd. (ASPL) Director name: Mr Gerald Ong Chong Keng Amount purchased: 570,000 @ $0.50 Value: $285,000

Arden Partners (ARDN) Director name: Mr Howard FlightAmount purchased: 98,000 @ 51.00p Value: £49,980

Arden Partners (ARDN) Director name: Mr Trevor NorrisAmount purchased: 49,000 @ 51.00p Value: £24,990

Arden Partners (ARDN) Director name: Mr Anthony D BartlettAmount purchased: 25,000 @ 51.00p Value: £12,750

Top Director Sells

BG Group (BG.) Director name: Mr Frank ChapmanAmount sold: 85,000 @ 1,280.03p Value: £1,088,026

Berkeley Resources Ltd. (DI) (BKY) Director name: Mr Matt SymeAmount sold: 730,000 @ 113.13p Value: £825,849

Zotefoams (ZTF) Director name: Mr David StirlingAmount sold: 160,389 @ 138.00p Value: £221,337

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