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Hurricane Energy PLC - Director/PDMR Shareholdings

RNS Number : 3705L
Hurricane Energy PLC
29 April 2020
 

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):

 

Price(s)

Volume(s)

a)      10.8300p

b)      10.4000p

c)      10.2839p

d)      11.2869p

e)      11.2869p

f)      11.2869p

g)      11.2869p

h)      11.2869p

a)   100,000

b)   50,000

c)   50,000

d)   44,297

e)   44,297

f)    44,297

g)   44,297

h)   44,297

 

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

[email protected]

+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

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Hurricane Energy PLC

Price: 5.105

Market: LSE
Market Cap: £102.58 m
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