Southeast Asia-focused oil and gas explorer Coastal Energy Company kept up its recent rally, almost 40% this month, on news that its chairman opened his account.
Bernard de Combret, former deputy chairman of the executive board of French oil giant Total, bought 166,600 Coastal shares at CAN$2.878 each, about 160p.
That cost de Combret, also a non-executive director of Petrofac since 2003, more than £267,000.
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
Coastal's portfolio in Thailand contains significant proven, probable and possible reserves both the onshore and offshore.
In June, chief executive Randy Bartley said combined production from the three wells at Songkhla was 7,500 barrels of oil per day, while onshore gas production at Phu Horm was 1,750 boepd barrels of oil equivalent per day.
The net loss from continuing operations narrowed to $3.2m in the first quarter ended 31 March from $4.6m in 2008.
Top Director Buys
Value: £267,026
Value: £50,000
Value: £29,700
Value: £24,000
Value: £22,200
Value: £20,300
Value: £14,900
-
What’s happening to the NatWest share sell-off? Impact of general election 2024 explainedThe UK government has held shares in NatWest Group since the 2008 Financial Crisis. But a plan to sell off a large chunk of them appears to have been delayed.
-
Will a general election delay interest rate cuts in the UK?Many had been expecting a summer rate cut and an Autumn general election. Has Rishi Sunak scuppered one by bringing forward the other?
