CEO and CFO of Eland Oil & Gas show faith in company's future

4th Jun 2014 16:03

The Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of AIM-listed Eland Oil & Gas have purchased a total of 100,000 shares. The largest deal was made by CEO Leslie Blair, who bought 80,000 shares at 109.30p each for a total spend of £87,440.CFO George Maxwell spent a more modest £21,980 on 20,000 shares. The deals come after Westhouse Securities upgraded the stock to 'neutral' following its results earlier in the week, which gave a positive outlook despite an increase in operating expenses that had led to widened losses for the year. Notably, the group has brought OML 40 on production this year as a result of its efforts in 2013, cheering investors further with the news it expects to benefit from "a significant reduction" in underlying tax rates in Nigeria.Top Director BuysCyprotex (CRX) Director name: Mr Stephen HarrisAmount purchased: 400,000 @ 6.40p Value: £25,600Eland Oil & Gas (ELA) Director name: Mr George Walter Mitchell MaxwellAmount purchased: 20,000 @ 109.90p Value: £21,980Top Director SellsInchcape (INCH) Director name: Mr Andre LacroixAmount sold: 78,118 @ 619.82p Value: £484,191Victrex plc (VCT) Director name: Mr David R HummelAmount sold: 26,591 @ 1,806.00p Value: £480,233Victrex plc (VCT) Director name: Mr David R HummelAmount sold: 23,409 @ 1,800.00p Value: £421,362Serabi Gold (SRB) Director name: Mr Daniel KunzAmount sold: 5,096,084 @ 5.75p Value: £293,025Brewin Dolphin Holdings (BRW) Director name: Mr Stephen FordAmount sold: 62,500 @ 319.00p Value: £199,375Alliance Trust (ATST) Director name: Mr Alan TrotterAmount sold: 23,415 @ 453.01p Value: £106,072NR