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.
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 has encountered hydrocarbon saturated reservoirs in all wells drilled so far.
Top Director Buys
Sibir Energy (SBE)
Director name: Mr Henry Cameron
Amount purchased: 600,000 @ 246.30p
Value: £1,477,800
John Wood Group (WG.)
Director name: Sir Sir Ian C Wood
Amount purchased: 475,251 @ 188.00p
Value: £893,472
TT Electronics (TTG)
Director name: Mr John W Newman
Amount purchased: 1,000,000 @ 46.90p
Value: £469,000
CLS Holdings (CLI)
Director name: Mr Henry Klotz
Amount purchased: 65,189 @ 302.00p
Value: £196,871
Hill and Smith (HILS)
Director name: Mr David L Grove
Amount purchased: 75,000 @ 195.00p
Value: £146,250
Weir Group (WEIR)
Director name: Mr Stephen King
Amount purchased: 43,500 @ 274.30p
Value: £119,320
TT Electronics (TTG)
Director name: Mr John W Newman
Amount purchased: 250,000 @ 46.90p
Value: £117,250
BBA Aviation (BBA)
Director name: Mr Simon Pryce
Amount purchased: 125,000 @ 79.80p
Value: £99,750
Sports Direct International (SPD)
Director name: Mr Simon Bentley
Amount purchased: 250,000 @ 39.20p
Value: £98,000
John Wood Group (WG.)
Director name: Mr Allister G Langlands
Amount purchased: 50,000 @ 189.30p
Value: £94,650
-
How to find the best luxury hotel dealsKnowing how to find the best luxury hotel deals can help holidaymakers enjoy high-end experiences without the sky-high costs. We reveal how to bag the best value for less.
-
Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
