Sibir Energy's chief executive Henry Cameron spent nearly £1.5m buying shares in the oil explorer.
The group said Cameron bought 600,000 shares on Friday at a price of 246.29p per share. He increases his stake to 1.5m shares, which represents 0.39% of the company.
Sibir said today that an independent analysis has been carried out by Ryder Scott at its Koltogorsky area. The means estimate of the eight blocks according to Ryder Scott is 269m barrels of oil.
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The group said it has encountered hydrocarbon saturated reservoirs in all wells drilled so far.
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