Faroe Petroleum Plc Share News (FPM)

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Oil and gas exploration company Faroe Petroleum said three of its directors bought shares on Monday.

Chief Executive Officer Graham Stewart bought 109,141 shares, Chief Financial Officer John Cooper bought 73,714 shares and Chief Operating Officer Helge Hammer bought 71,936 shares.

The shares were bought at 53.3479 pence each.

Following the transactions Stewart, Cooper, and Hammer hold 4.9 million, 1.9 million and 2.7 million shares respectively.

Faroe Petroleum on Tuesday said drilling has started on the Kvalross exploration well in the Norwegian Barents Sea.

Faroe said the drilling work has started on the 7224/2-1 exploration well, in which it holds a 40% interest. Wintershall Norge AS has a 40% stake and is the operator, with the other 20% held by Petoro AS.

The stock closed down 5.7% at 49.75p Tuesday.
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Investment company Octagonal said Non-Executive Director Martin Davison bought a total of 3.3 million shares through his pension fund. Davison bought 3 million shares at 1.2p each on Monday and another 265,000 shares at 0.95p each on Friday. After the purchases, Davison holds 10.8 million shares, or a 1.92% stake. The stock closed up 4.5% at 1.28p Tuesday.
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Real Estate Investors said Chairman John Crabtree bought 72,000 shares at 69.5p each. He now holds 226,666 shares in the trust, representing 0.12% of the issued share capital. The stock closed up 2.0% 69.9p Tuesday.
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Hansa Trust said Alex Hammond-Chambers, a director, bought 2,500 shares at 780p each. He now holds 4,900 shares. The stock closed up 0.1% at 773.40p Tuesday.
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Fulcrum Utility Services said Chief Financial Officer Martin Harrison sold 128,000 shares at a price of 28.00p per share on Monday. Following this transaction, Harrison has a beneficial interest in 208,538 shares, representing approximately 0.1% of the issued share capital. Shares in the energy and multi-utility services provider closed down 2.8% at 26.85p Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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