Director backs Tullow Oil after $1bn loss

Tullow Oil director Jeremy Wilson has increase his in the company, hours after it posted a $1.09bn (£752.6m) loss for 2015.

Wilson purchased 30,000 shares for nearly £44,000 in a bid to give the market confidence about the company’s future.

It takes his total holding to 45,000 shares, a stake of 0.005%.

In its results for the year to 31 December 2015, the FTSE 250 oil and gas exploration and production group said revenues had fallen 27% for the year from $2.21bn in 2014 to $1.61bn, due to the fall in oil prices.

Its pre-tax operating cash flow also fell 38% from $1.55bn to $967m while gross profit fell 46% from $1.10bn to $591m.

However the company had pegged back its full-year loss from $1.97bn to $1.09bn in 2015.

It said Tullow has focused on cost savings, improved efficiencies, and a lower capital expenditure, for which it is aiming to cut another $1.1bn of capex in 2016.

Chief executive Aidan Heavey said 2016’s challenge is to be “equally robust” in responding to remaining uncertainties.

Top Director Buys

Judges Scientific (JDG)
Director name: Cicurel,David
Amount purchased: 9,275 @ 1,675.00p
Value: £155,356.25

Banco Santander S.a. (BNC)
Director name: Botin,Francisco Javier
Amount purchased: 50,000 @ 271.49p
Value: £135,745

Banco Santander S.a. (BNC)
Director name: Botin,Francisco Javier
Amount purchased: 50,000 @ 270.94p
Value: £135,470

Tullow Oil (TLW)
Director name: Wilson,Jeremy
Amount purchased: 30,000 @ 145.47p
Value: £43,641.00

Brewin Dolphin Holdings (BRW)
Director name: Miller,Simon Edward Callum
Amount purchased: 10,000 @ 254.90p
Value: £25,490.00

Electra Private Equity (ELTA)
Director name: Bramson,Edward
Amount purchased: 550 @ 3,409.00p
Value: £18,749.50

Cohort (CHRT)
Director name: Walmsley,Sir Robert
Amount purchased: 4,965 @ 332.00p
Value: £16,483.80

Northgate (NTG)
Director name: Caseberry ,Jill
Amount purchased: 5,000 @ 329.11p
Value: £16,455.50

Redrow (RDW)
Director name: Lyons,Michael
Amount purchased: 3,000 @ 397.76p
Value: £11,932.80

Diageo (DGE)
Director name: Humer,Franz B
Amount purchased: 462 @ 1,793.00p
Value: £8,283.66

Henderson Far East Income Ltd. (HFEL)
Director name: Chapman,Julia
Amount purchased: 2,616 @ 267.29p
Value: £6,992.40

Phsc (PHSC)
Director name: King,Stephen A
Amount purchased: 15,000 @ 24.00p
Value: £3,600.00

Asian Total Return Investment Company (ATR)
Director name: Keljik,Christopher A
Amount purchased: 1,041 @ 191.15p
Value: £1,989.87

Bp (BP.)
Director name: Gilvary,Brian
Amount purchased: 95 @ 334.45p
Value: £317.73

Diageo (DGE)
Director name: Mikells,Kathryn
Amount purchased: 10 @ 1,793.00p
Value: £179.30

Interserve (IRV)
Director name: Melizan,Bruce
Amount purchased: 36 @ 420.00p
Value: £151.20

Countrywide (CWD)
Director name: Clarke,Jim
Amount purchased: 40 @ 377.09p
Value: £150.84

Taylor Wimpey (TW.)
Director name: Jordan,James J
Amount purchased: 82 @ 182.80p
Value: £149.90

Taylor Wimpey (TW.)
Director name: Redfern,Peter
Amount purchased: 82 @ 182.80p
Value: £149.90

Interserve (IRV)
Director name: Haywood,Tim
Amount purchased: 35 @ 420.00p
Value: £147.00

Interserve (IRV)
Director name: Ringrose,Adrian M
Amount purchased: 30 @ 420.00p
Value: £126.00

Interserve (IRV)
Director name: Dance,Steven
Amount purchased: 30 @ 420.00p
Value: £126.00

Imi (IMI)
Director name: Twite,Roy
Amount purchased: 16 @ 777.00p
Value: £124.32

Imi (IMI)
Director name: Shook ,Daniel
Amount purchased: 16 @ 777.00p
Value: £124.32

Imi (IMI)
Director name: Selway,Mark W
Amount purchased: 16 @ 777.00p
Value: £124.32

Glaxosmithkline (GSK)
Director name: Dingemans,Simon
Amount purchased: 9 @ 1,368.63p
Value: £123.18

Glaxosmithkline (GSK)
Director name: Witty,Sir Andrew P
Amount purchased: 9 @ 1,368.63p
Value: £123.18

There were no director sells at the time of publication