13 Dec 2012 07:00
WESSEX EXPLORATION PLC
(AIM: WSX)
Director/PDMR Shareholding
Wessex Exploration PLC ("Wessex" or "the Company") announces that on 12 December 2012 Malcolm Butler (Non Executive Chairman) and Andy Yeo (Chief Financial Officer) purchased ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") as follows:
Shares Purchased | Price (pence) | Revised holding | % | |
Malcolm Butler | 200,000 | 4.825p | 400,000 | 0.05 |
Andy Yeo | 217,334 | 4.825p | 2,200,000 | 0.30 |
Contacts | |
Wessex Exploration PLC | www.wessexexploration.com |
Andy Yeo, Chief Financial Officer | +44 (0) 1225 428139 |
WH Ireland Limited | www.wh-ireland.co.uk |
John Wakefield / Marc Davies (Corporate Finance) | +44 (0) 117 945 3470 |
Ruari McGirr / Sebastian Wykeham (Institutional Sales) | +44 (0) 207 220 1691 |
Yellow Jersey PR | +44 (0) 776 853 7739 |
Dominic Barretto | dominic@yellowjerseypr.com |
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Notes to Editors:
Guyane
Wessex holds a net 1.25% interest in the Exclusive Exploration Licence (EEL) covering an approximate 24,100 sq.km offshore area of Guyane (a French prefecture previously known as French Guiana). The EEL interest is held via a 50/50 joint venture between Wessex and Northern Petroleum Plc, using Northpet Investments Limited as the holding company with a total interest of 2.5%. The other partners in Guyane are Shell (45% and operator), Tullow (27.5%) and Total (25%).
Juan de Nova
Wessex holds a 70% interest in the Juan de Nova Est Permit, covering 9,010 sq. km in water depths ranging from 200m to 3,000m, to the east of Juan de Nova Island in the Mozambique Channel. Wessex has been designated as operator, subject to the approval of the French authorities. Global Petroleum Limited (AIM: GBP, ASX: GBP) has a 30% interest.
Southern United Kingdom
Wessex holds three licences in southern United Kingdom - PEDL 238: 50%; PEDL 239: 25%; P1928: 35% - alongside its partner and operator, NWE Mirrabooka (UK) Pty. Ltd (a fully owned subsidiary of ASX listed Norwest Energy NL).
Saharawi Arab Democratic Republic (SADR, Western Sahara)
Wessex holds three blocks - Bojador (39,983 sq.km), Guelta (15,760 sq.km) and Imlili (16,955 sq.km) - under Assurance Agreements which cause Production Sharing Contracts to come into effect once the SADR government is able to take control of the territory. Wessex is the designated operator and holds a 50% interest; Tower Resources (AIM: TRP) has the other 50% interest.