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.
Chapman has been chief executive for 10 years having joined the board at the time of the demerger.
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
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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
