(Sharecast News) - Touchstone Exploration revealed on Thursday that chief executive Paul Baay had offloaded 131,000 shares in the AIM-listed exploration and development firm.
Baay, who founded Touchstone, sold the shares on Wednesday at an average price of 54.0p each, for a total value of £70,740.
The proceeds from the sale were used to satisfy costs and withholding taxes associated with the company's officer share option exercises.
Back in August, Touchstone Exploration announced the completion of its five-phase production testing at the Royston-1X well.
Among the significant discoveries during the testing, the deepest oil located on the Ortoire block was found at a depth between 11,102 and 11,168 feet, registering an oil gravity between 34.1 to 40.0 degrees API. However, the low permeability reservoir indicated limited natural oil flow to the surface.
As of 1530 BST, Touchstone shares were up 6.48% at 57.50p.
Reporting by Iain Gilbert at Sharecast.com
Top Director Buys
Arbuthnot Banking Group (ARBB)
Director name: Almond,Jayne
Amount purchased: 5,617 @ 890.00p
Value: �49,991.30
Symphony International Holdings Ltd. (SIHL)
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Symphony International Holdings Ltd. (SIHL)
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Director name: Almond,Jayne
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Value: �26,850.00
Dowlais Group (DWL)
Director name: Baxter,Celia
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Value: �20,284.90
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Director name: Thadani,Anil
Amount purchased: 25,000 @ $0.45
Value: $11,250.00
Dowlais Group (DWL)
Director name: Baxter,Celia
Amount purchased: 12,251 @ 87.72p
Value: �10,746.53
Abrdn Diversified Income And Growth (ADIG)
Director name: Bradley,Trevor
Amount purchased: 12,860 @ 77.76p
Value: �9,999.81
Eco (atlantic) Oil & Gas Npv (di) (ECO)
Director name: Friedman,Alan Mark
Amount purchased: 60,000 @ $0.18
Value: $6,211.92
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Director name: Bradley,Trevor
Amount purchased: 7,140 @ 78.05p
Value: �5,572.76
Audioboom Group (BOOM)
Director name: Tobin,Michael
Amount purchased: 3,597 @ 139.00p
Value: �4,999.83
Abrdn Diversified Income And Growth (ADIG)
Director name: Bradley,Trevor
Amount purchased: 5,000 @ 78.29p
Value: �3,914.60
Top Director Sells
Touchstone Exploration Inc Npv (di) (TXP)
Director name: Baay,Paul R.
Amount sold: 131,000 @ 54.00p
Value: �70,740.00
Wildcat Petroleum (WCAT)
Director name: Singh,Mandhir
Amount sold: 26,300,000 @ 0.15p
Value: �39,450.00
Touchstone Exploration (TXP)