Non-executive director Craig Burton has sold 3m shares in Matra Petroleum at an average price of 4.16p a share but he still holds 45.2m shares - 4.53% of the Russia-focused oil and gas explorer.
This follows last Friday's disposal of 18m shares by Macquarie Bank, which retains a 11.02% stake in Matra.
Burton is a director of a number of quoted resources companies.
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
Matra has started drilling the first appraisal well on on the Arkhangelovskoe License in Orenburg, Russia. There was a delay because of the lack of an interim generator but the site has been linked to the local electricity supply. The drilling will take around four months and cost $4.5m. Matra had €659,000 in the bank at the end of June 2009.
Matra joined AIM in April 2006 following the reversal of Inke Petroleum into AIM-quoted Ming Resources. Matra sold its Hungarian interests in December 2008 in order to concetrate on its Russian exploration interests.
Top Director Buys
Value: € 132,504
Value: £20,262
Top Director Sells
Value: £480,000
Value: £124,800
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
