Onyx Spot Oil Regulatory News (OIL)

10 Oct 2007 07:00

Oilexco Incorporated09 October 2007 Oilexco Incorporated9 October 2007 NOTIFICATION OF TRANSACTIONS OF DIRECTORS,PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS This form is intended for use by an issuer to make a RIS notification requiredby DR 3.1.4R(1). (1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.(2) An issuer making a notification in respect of a derivative relating to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. Please complete all relevant boxes in block capital letters. 1. Name of the issuer Oilexco Incorporated 2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or (ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or (iii) both (i) and (ii) (i) ONLY 3. Name of person discharging managerial responsibilities/director Arthur S Millholland Michael Cairns 4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person NOT APPLICABLE 5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest(3) In respect of the holding of those in (3) above 6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares Common shares of no par value 7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them As in (3) above 8. State the nature of the transaction Arthur S Millholland: Exercise of Options Michael Cairns: Exercise of Options and Sale of Shares 9. Number of shares, debentures or financial instruments relating to shares acquired Arthur S Millholland: 450,000 @ $0.27 Michael Cairns: 40,000 @ $3.46 10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) Arthur S Millholland: 0.2058% Michael Cairns: 0.0183% 11. Number of shares, debentures or financial instruments relating to shares disposed Michael Cairns: SOLD 40,000 shares 12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) Michael Cairns: 0.0183% 13. Price per share or value of transaction Arthur S Millholland: Exercise of Options: CDN$ 121,500 Michael Cairns: Exercise of Options: CDN$ 138,400 Michael Cairns: Sale of Shares: CDN$ 618,528 14. Date and place of transaction Arthur S Millholland: 4th October in Canada Michael Cairns: 2nd October and 2nd October in Canada 15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) Arthur S Millholland: 1,361,500(0.6227%) shares and 4,210,000 (1.9253%) options Michael Cairns: 0 Shares and 250,000 (0.1143%) options 16. Date issuer informed of transaction Arthur S Millholland: 4th October Michael Cairns: 3rd October If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes 17. Date of grant 18. Period during which or date on which it can be exercised 19. Total amount paid (if any) for grant of the option 20. Description of shares or debentures involved (class and number) 21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise 22. Total number of shares or debentures over which options held following notification 23. Any additional information None 24. Name of contact and telephone number for queries Ed Dawson, 02077471504 Name and signature of duly authorized officer of issuer responsible formaking notification Art Millholland Date of notification 9th October 2007 This information is provided by RNS The company news service from the London Stock Exchange