Robert Adair, executive chairman of Melrose Resources, has upped his stake in the oil and gas explorer, buying 100,000 shares at 196.10p each.
Adair, who was the original founder of Melrose in the 1990's, spent £196,100 and now holds 52.86% of the company.
Last week, Melrose Resources said it was pleased with the results from East Dikirnis No.1 which confirms the presence of further oil rim accumulations in the Mansoura concession.
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The group said it would evaluate development options for the discovery over future months.
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Value: £196,100
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