29 Apr 2020 15:20
29 April 2020
Hurricane Energy plc
("Hurricane" or the "Company")
Director/PDMR Shareholdings
Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has been notified of transactions by Hurricane directors and Persons Discharging Managerial Responsibility ("PDMRs") in ordinary shares of £0.001 each in the Company ("Ordinary Shares").
A summary of the transactions follows:
Name | Position | Ordinary Shares Purchased | Average Price Paid per Ordinary Share |
Steven McTiernan | Chairman | 100,000 | 10.8300p |
Dr David Jenkins | Non-Executive Director | 50,000 | 10.4000p |
John van der Welle | Non-Executive Director | 50,000 | 10.2839p |
Sandra Shaw | Non-Executive Director | 44,297 | 11.2869p |
Daniel Jankes | General Counsel | 44,297 | 11.2869p |
Richard Chaffe | Acting Chief Financial Officer | 44,297 | 11.2869p |
Melissa Clare | General Manager (Aberdeen) | 44,297 | 11.2869p |
Moira Slightam | Subsurface Technical Director | 44,297 | 11.2869p |
The below information is intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
1. | Details of the person discharging managerial responsibilities | |||||
a) | Name: | a) Steven McTiernan b) Dr David Jenkins c) John van der Welle d) Sandra Shaw e) Daniel Jankes f) Richard Chaffe g) Melissa Clare h) Moira Slightam | ||||
2. | Reason for the notification | |||||
a) | Position/status: | a) Chairman b) Non-Executive Director c) Non-Executive Director d) Non-Executive Director e) General Counsel f) Acting Chief Financial Officer g) General Manager (Aberdeen) h) Subsurface Technical Director | ||||
b) | Initial notification/Amendment: | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Hurricane Energy plc | ||||
b) | LEI: | 2138007Z66OO4XWKM819 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary shares of 0.1p each in Hurricane Energy plc ("Shares") ISIN: GB00B580MF54 | ||||
b) | Nature of the transaction: | Open market purchase of Shares. | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: | See above 4 c) | ||||
e) | Date of the transaction: | (a)/(b)/(c): 28 April 2020 (d)/(e)/(f)/(g)/(h): 29 April 2020 | ||||
f) | Place of the transaction: | London Stock Exchange (AIM) | ||||
Contacts:
Hurricane Energy plc Dr Robert Trice, Chief Executive Officer
| +44 (0)1483 862 820 |
Stifel Nicolaus Europe Limited Nominated Adviser & Joint Corporate Broker Callum Stewart / Ashton Clanfield
| +44 (0)20 7710 7600 |
Morgan Stanley & Co. International plc Joint Corporate Broker Andrew Foster / Tom Perry / Alex Smart
| +44 (0)20 7425 8000 |
Vigo Communications Public Relations Patrick d'Ancona / Ben Simons hurricane@vigocomms.com | +44 (0)20 7390 0230 |
About Hurricane
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.
The Lancaster field (100% owned by Hurricane) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. Hydrocarbons were introduced to the FPSO system on 11 May 2019 and the first oil milestone was achieved on 4 June 2019.
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a phased work programme targeting sanction of an initial stage of full field development.
Glossary
FPSO | Floating production storage and offloading vessel |
Spirit Energy | Spirit Energy Limited |