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.
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
The group said it would evaluate development options for the discovery over future months.
Top Director Buys
Value: € 4,200,000
Value: € 1,719,792
Value: £196,100
Value: £184,800
Value: $147,425
Value: £87,941
Value: £61,920
Value: £37,912
Value: £42,700
Value: £42,700
-
Digital assets ‘at risk of being lost’ due to lack of planning for death, Which? poll findsNews The consumer watchdog has issued a warning about digital assets after a survey found the majority of people have not drawn up instructions for how to access them after their death.
-
Apple loses court battle over €13bn tax bill - should you invest?The case against Apple was brought by the European Commission and ends an eight-year dispute
