(Sharecast News) - Pantheon Resources revealed on Thursday that non-executive chairman Michael Spencer had five million ordinary shares in the AIM-listed oil and gas exploration and development firm.

Spencer, who took over as chairman in March, purchased the shares at an average price of the shares at an average price of 14.5p each, for a total value of £728,792.60.

Following the transaction, Spencer holds a beneficial interest in 83.99m ordinary Pantheon shares, representing approximately 5.8% of the company's issued share capital.

As of 1530 BST, Pantheon shares had shot up 18.27% to 15.99p.

Reporting by Iain Gilbert at Sharecast.com

Top Director Buys

Pantheon Resources (PANR)

Director name: (Michael Spencer) ,Spencer of Alresford

Amount purchased: 2,879,258 @ 15.00p

Value: £431,888.72

Pantheon Resources (PANR)

Director name: (Michael Spencer) ,Spencer of Alresford

Amount purchased: 2,120,742 @ 14.00p

Value: £296,903.88

Ashtead Technology Holdings (AT.)

Director name: Cahuzac,Jean

Amount purchased: 9,500 @ 423.43p

Value: £40,225.75

Touchstar (TST)

Director name: Jones,Lynden

Amount purchased: 50,000 @ 77.00p

Value: £38,500.00

Venture Life Group (VLG)

Director name: McGreevy,Paul

Amount purchased: 48,373 @ 62.00p

Value: £29,991.26

Venture Life Group (VLG)

Director name: McGreevy,Paul

Amount purchased: 15,663 @ 63.80p

Value: £9,992.99

Venture Life Group (VLG)

Director name: McGreevy,Paul

Amount purchased: 8,066 @ 61.90p

Value: £4,992.85

Venture Life Group (VLG)

Director name: McGreevy,Paul

Amount purchased: 8,066 @ 61.90p

Value: £4,992.85

Venture Life Group (VLG)

Director name: McGreevy,Paul

Amount purchased: 8,105 @ 61.60p

Value: £4,992.68

Gran Tierra Energy Inc. (cdi) (GTE)

Director name: Guidry,Gary

Amount purchased: 540 @ $7.81

Value: $3,477.69

Top Director Sells

Applied Nutrition (APN)

Director name: Pollard ,Joseph

Amount sold: 550,000 @ 276.00p

Value: £1,517,999.99

4imprint Group (FOUR)

Director name: Brukwicki ,Michelle

Amount sold: 1,400 @ 3,706.00p

Value: £51,884.00