Leyshon Managing Director builds stake with purchase of 1.8m shares

1st Feb 2013 16:05

Paul Atherly, the Managing Director of China-focused gas exploration company Leyshon Resources, announced Friday that he last week purchased 1.8m shares. Atherly, who has been a director of the company since May 2004, bought the shares at 14.91p a time, costing him £268,380. The transaction was made on January 25th, the same day the group reported the success of its most recent drilling operations. The company stated that its wholly-owned subsidiary, Pacific Asia Petroleum (PAPL), had completed the drilling and wire line logging of two wells known as "ZJS5" and "ZJS6". This was in addition to flow testing of ZJS5 on its newly acquired Zijinshan Gas Project on the eastern fringe of the Ordos Gas Basin in Central China. A flow test without stimulation was conducted on two potential pay zones in ZJS5 which confirmed that fracking would be required to produce commercial gas flows. Speaking at the time Atherley said: "We are very encouraged by the positive progress we have made to date which has exceeded our initial expectations for the Zijinshan Gas Project. "We have made the decision to accelerate the 2013 programme with plans to drill and test six wells, capture 300 kilometres of seismic data with the aim of delineating a resource by the end of the year." Atherly now holds 31.33m shares, equal to 12.56% of the issued share capital. Top Director BuysLeyshon Resources Ltd. (LRL) Director name: Mr Paul Campbell AtherleyAmount purchased: 1,800,000 @ 14.91p Value: £268,380Mitchells & Butlers (MAB) Director name: Mr Alistair DarbyAmount purchased: 31,623 @ 317.73p Value: £100,476Brown (N.) Group (BWNG) Director name: Mr Andrew HigginsonAmount purchased: 25,500 @ 368.00p Value: £93,840Fidelity Special Values (FSV) Director name: Mr Benjamin ThomsonAmount purchased: 9,000 @ 651.75p Value: £58,658ACM Shipping Group (ACMG) Director name: Mr Mark TraceyAmount purchased: 20,425 @ 146.50p Value: £29,923Betfair Group (BET) Director name: Mrs Fru HazlittAmount purchased: 2,500 @ 662.00p Value: £16,550Top Director SellsCarnival (CCL) Director name: Mr Modesto MaidiqueAmount sold: 3,000 @ 2,456.99p Value: £73,710