LONDON (Alliance News) - President Energy PLC, an oil and gas exploration and production company, on Tuesday said that Chairman Peter Levine has bought 140,000 shares in the company at 6.5 pence each through PLLG Investments Ltd, his second purchase in as many trading days.
The shares were bought on Monday. The latest share purchase means that Levine owns 117.7 million shares in President Energy, equivalent to a 22.41% stake.
News of Levine's latest share purchase follows from his acquisition of 306,649 shares in President Energy at 6.47p on Friday last week.
President Energy has onshore producing assets and exploration licences in Argentina and Louisiana, US, and onshore exploration licences in Paraguay and Australia.
Shares in the company were up 3.5% at 7.04p on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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