Sirius Petroleum is at its highest in 3 years on news that directors have bought £300,000 of shares in the AIM-listed oil company.
Mike Hirschfield, former group finance executive of Lupus Capital, snapped up 3.1m shares at 5p each, costing him £155,000.
Fellow director Toby Hayward shelled out £145,000 for 2.9m shares at the same price.
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Between them, the pair now own almost 8% of the business; Hirschfield with 2.85% and Hayward 5.05%.
The shares doubled to 5p at the end of August after London-based Capital Investment Office guaranteed Sirius at least $80m of debt funding by for its first marginal oil field project.
"We now have a substantial funding line which will enable us to execute our first asset deal in line with our strategy to create shareholder value through the acquisition of proven marginal oil assets in Nigeria," said chairman Babatunde Agboola.
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