News

North Sea focused oil group Venture Production has had a stellar couple of years with its shares rocketing alongside the price of oil.

While shares in the group have continued to soar, directors at the group have maintained a consistent selling strategy.

Chief operating officer Jonathan Murphy has seen no reason to change tack, disposing of 50,000 shares at a price of 871p per share. The sale netted him £435,000 and leaves him with a stake of 159,000.

It marks the second sale in as many weeks for Murphy who sold an additional 50,000 shares last month.

In September the group announced that a combination of higher production and surging oil prices helped it turn in a profit of £97.7m against a loss of £5.9m a year earlier. Average production rose 80% to 43,600 barrels per day.

Separately homebuilder Persimmon announced that its chairman, John White, has acquired 600,000 shares in the group at an average price of 194.33p from life president and former chairman Duncan Davidson.

The transaction cost White around £1.16m and takes his stake to 1.95m. Davidson's stake has now been reduced to around 14.57m.

Top Director Buys

Persimmon (PSN)
Director name: Mr John White
Amount purchased: 600,000 @ 194.33p
Value: £1,165,980

Imperial Energy Corporation (IEC)
Director name: Mr Peter Levine
Amount purchased: 20,000 @ 650.00p
Value: £130,000

Panmure Gordon & Co (PMR)
Director name: Mr Charles Stonehill
Amount purchased: 50,000 @ 154.00p
Value: £77,000

Durban Deep.Npv (DRD)
Director name: Mr Mark Wellesley-Wood
Amount purchased: 50,000 @ $1.19
Value: $59,650

Durban Deep.Npv (DRD)
Director name: Mr Mark Wellesley-Wood
Amount purchased: 50,000 @ $1.19
Value: $59,650

Sound Oil (SOU)
Director name: Mr Simon Howard Davies
Amount purchased: 500,000 @ 4.50p
Value: £22,500

Quadrise Fuels International (QFI)
Director name: Mr Anthony Lowrie
Amount purchased: 100,000 @ 18.50p
Value: £18,500

Walker Crips Weddle Beck (WCW)
Director name: Mr Stephen Bailey
Amount purchased: 4,500 @ 352.00p
Value: £15,840

Christie Group (CTG)
Director name: Mr Chris Day
Amount purchased: 5,000 @ 233.00p
Value: £11,650
Top Director Sells

Dana Petroleum (DNX)
Director name: Mr Thomas P Cross
Amount sold: 360,000 @ 1,269.75p
Value: £4,571,100

Jardine Math.Sr (JAR)
Director name: Mr Henry Keswick
Amount sold: 50,000 @ $19.54
Value: $976,875

Jardine Math.Sr (JAR)
Director name: Mr Henry Keswick
Amount sold: 50,000 @ $19.50
Value: $975,000

Dana Petroleum (DNX)
Director name: Mr David MacFarlane
Amount sold: 48,000 @ 1,269.75p
Value: £609,480

Venture Production (VPC)
Director name: Mr Jonathan Murphy
Amount sold: 50,000 @ 871.50p
Value: £435,750

Glisten (GLI)
Director name: Mr Paul Simmonds
Amount sold: 50,000 @ 400.00p
Value: £200,000

Devro (DVO)
Director name: Mr Graeme Alexander
Amount sold: 151,359 @ 110.00p
Value: £166,495

Devro (DVO)
Director name: Mr John Neilson
Amount sold: 87,322 @ 110.00p
Value: £96,054

Devro (DVO)
Director name: Mr Trevon Morgan
Amount sold: 83,684 @ 110.00p
Value: £92,052