Director dealings: Industry vet ups stake in Rockrose Energy

Rockrose Energy revealed on Wednesday that senior non-executive director John Morrow had purchased 5,014 ordinary shares in the London-listed oil and gas production firm.

Morrow, who served as head of exploration and production at Glencore from 2011 to 2019, acquired the shares at an average price of 1,984p each, for a total value of £99,477.76.

Back in March, Rockrose Energy made a formal approach to buy Independent Oil and Gas for £26.6m, just days after agreeing to buy Marathon Oil's UK assets in a $140m deal.

However, Rockrose's 20p per share cash offer was rejected by the board of directors of IOG, as they want to continue looking for a strategic partner to develop their assets.

RockRose said it had considered the opportunity to partner with IOG but that any such partnership remained "problematic" due to the financing arrangements IOG had in place with London Oil & Gas.

As of 1625 BST, Rockrose shares had picked up 0.51% to 1,949.80p.

Top Director Buys

Rockrose Energy (RRE)
Director name: Morrow,John
Amount purchased: 5,014 @ 1,984.00p
Value: £99,477.76

Saga (SAGA)
Director name: Hoskin,Gareth J
Amount purchased: 66,719 @ 49.46p
Value: £32,999.75

Plutus Powergen (PPG)
Director name: Longley,James
Amount purchased: 9,166,667 @ 0.30p
Value: £27,500.00

Plutus Powergen (PPG)
Director name: Tatnall,Charles
Amount purchased: 9,166,667 @ 0.30p
Value: £27,500.00

Saga (SAGA)
Director name: Eisenschimmel ,Eva
Amount purchased: 22,924 @ 43.71p
Value: £10,020.08

Walker Crips Group (WCW)
Director name: Lam,Sean Kin Wai
Amount purchased: 30,000 @ 25.10p
Value: £7,530.00

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