Soco International Chairman adds 50,000 shares

13th Dec 2013 15:43

Soco International's Non-Executive Chairman, Rui de Sousa, has acquired 50,000 shares in the international oil and gas exploration and production company. The shares were purchased at 384.97p each for a total spend of £192,485. In its interim management statement last month the group said it was "comfortably positioned" to continue an annual return of cash to shareholders and also to retain exposure to a high potential exploration programme.It further reported that in the year to October 31st, production net to its working interest averaged 15,616 barrels of oil equivalent per day, and said its guidance for the full year remained at 16,000. At the mid-November point net cash and liquid investments totalled approximately $200m.Earlier this week, Goldman Sachs downgraded its rating on the stock to 'sell', with a reduced target price of 420p, down from 460p previously. Top Director BuysBioquell (BQE) Director name: Mr Nicholas M T AdamsAmount purchased: 145,000 @ 135.00p Value: £195,750Soco International (SIA) Director name: Mr Rui C De SousaAmount purchased: 50,000 @ 384.97p Value: £192,485Planet Payment Inc. (PPT) Director name: Mr Carl Joseph WilliamsAmount purchased: 50,000 @ 132.72p Value: £66,360Bioquell (BQE) Director name: Mr Nigel KeenAmount purchased: 35,000 @ 135.00p Value: £47,250Shanta Gold Ltd. (SHG) Director name: Mr Anthony DurrantAmount purchased: 200,000 @ 11.20p Value: £22,400Falkland Oil & Gas Ltd. (FOGL) Director name: Mr David L HuddAmount purchased: 70,000 @ 25.25p Value: £17,675InterQuest Group (ITQ) Director name: Mr Paul FrewAmount purchased: 20,000 @ 84.15p Value: £16,830Reconstruction Capital II Ltd. (RC2) Director name: Mr Ion Alexander FlorescuAmount purchased: 70,000 @ € 0.19 Value: € 13,650Falkland Oil & Gas Ltd. (FOGL) Director name: Mr R T LiddellAmount purchased: 50,000 @ 25.25p Value: £12,625London Mining (LOND) Director name: Sir Nicholas BonsorAmount purchased: 11,820 @ 100.12p Value: £11,834Top Director SellsDriver Group (DRV) Director name: Mr David WebsterAmount sold: 750,000 @ 120.00p Value: £900,000InterQuest Group (ITQ) Director name: Mr Paul FrewAmount sold: 20,000 @ 84.00p Value: £16,800