Director dealings: Phoenix Global chairman ups stake

Phoenix Global Resources chairman Michael Rake purchased 201,997 ordinary shares in the AIM-listed oil and gas producer on Monday.

The former BT chairman acquired the shares at an average price of 24.50p each, for a total value of £49,489.27.

Phoenix reported an increase in interim revenues on the back of higher oil prices in September.

For the six months ended 30 June, the firm’s revenue increased by 4.5% to $92.9m off the back of average oil production of 10,776 barrels of oil per day, down from a pro forma basis of 11,304 per day for the second half of the previous year.

Phoenix attributed the drop in production to delays in new drilling projects, bad winter weather and some natural decline.

Offsetting the drop in production was the jump in oil prices from $49.57 per barrel in the first six months of last year to $60.43 a barrel.

As of 1630 GMT, Phoenix shares were untraded on 24.20p.

Top Director Buys

Caledonia Mining Corporation (di) (CMCL)
Director name: Curtis,Steven Ronald
Amount purchased: 67,082 @ $8.07
Value: $330,224.04

Caledonia Mining Corporation (di) (CMCL)
Director name: Learmonth ,John Mark
Amount purchased: 26,582 @ $8.07
Value: $130,855.00

Phoenix Global Resources (PGR)
Director name: Rake,Sir Michael
Amount purchased: 201,997 @ 24.50p
Value: £49,489.27

Advfn (AFN)
Director name: Chambers,Clement H
Amount purchased: 5,000 @ 28.00p
Value: £1,399.99

Alliance Trust (ATST)
Director name: Samuel,Christopher
Amount purchased: 89 @ 715.75p
Value: £637.02

Share Plc (SHRE)
Director name: Tolkien,Richard
Amount purchased: 646 @ 23.25p
Value: £150.20

Share Plc (SHRE)
Director name: Stone,Richard William
Amount purchased: 645 @ 23.25p
Value: £149.96

Share Plc (SHRE)
Director name: Birkett,Mike
Amount purchased: 645 @ 23.25p
Value: £149.96

Share Plc (SHRE)
Director name: Thomas ,Gareth
Amount purchased: 645 @ 23.25p
Value: £149.96

Share Plc (SHRE)
Director name: Ecsery,Francesca Eva
Amount purchased: 645 @ 23.25p
Value: £149.96

Meggitt (MGGT)
Director name: Green,Philip Ernest
Amount purchased: 25 @ 487.20p
Value: £121.80

Top Director Sells

Palace Capital (PCA)
Director name: Sinclair,Ronald Neil
Amount sold: 21,240 @ 309.00p
Value: £65,631.60

Palace Capital (PCA)
Director name: Silvester,Stephen John
Amount sold: 4,056 @ 309.00p
Value: £12,533.04