With oil prices under the cosh, it would take a brave - or long-sighted - investor to dip their toe in the water at the moment. But a trio of insiders from Faroe Petroleum (FPM), including chief executive Graham Stewart, have done just that. The directors have forked out just under £136,000 in aggregate for 254,791 shares in the North Sea driller, although the subsequent share price performance underlines the fragility of valuations within the sector.
IC TIP:
Buy
at
46p
However, hope springs eternal. Mr Stewart recently described this year's drilling programme as "material and exciting". The company is moving ahead with drilling at the Kvalross exploration well in the Barents Sea and has two further wells in the Norwegian Sea in the schedule. Encouragingly, the company has just been awarded six exploration licences in offshore Norway via the country's 2015 APA (Awards in Pre-defined Areas) licence round. In light of market conditions, Faroe and its exploration partners have not made any firm commitments, but Faroe continues to benefit from generous rebates under Norway's tax system, so it is poised to move quickly when markets dictate.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Applied Graphene Materials* | Jon Mabbitt (ce) | 11 Jan 16 | 7,619 | 175 | 13,333 | 121,735 | 0.557 |
| Applied Graphene Materials* | Mike Townend | 11 Jan 16 | 7,619 | 175 | 13,333 | 7,619 | 0.035 |
| Applied Graphene Materials* | Sean Christie | 11 Jan 16 | 7,619 | 175 | 13,333 | 7,619 | 0.035 |
| Applied Graphene Materials* | Oliver Lightowlers (cfo) | 11 Jan 16 | 7,619 | 175 | 13,333 | 39,877 | 0.182 |
| Applied Graphene Materials* | Dr Bryan Dobson (ch) | 11 Jan 16 | 7,619 | 175 | 13,333 | 123,205 | 0.563 |
| Applied Graphene Materials* | Professor Karl Coleman | 11 Jan 16 | 7,619 | 175 | 13,333 | 1,724,126 | 7.883 |
| Asian Total Return Investment Co | CA Keljik | 12 Jan 16 | 1,075 | 184.963 | 1,988 | 99,187 | 0.136 |
| BP Marsh & PartnersΩ | Daniel Topping | 7 Jan 16 | 824 | 153.95 | 1,269 | 29,936 | 0.103 |
| Best of the Best | Colin Hargrave | 13 Jan 16 | 10,000 | 175.5 | 17,550 | 126,579 | 1.306 |
| Canadian Overseas Petroleum | Arthur Millholland (ce) | 8 Jan 16 | 1,122,000 | 3.071 | 34,456 | 11,861,657 | 2.459 |
| Diamondcorp* | Euan Worthington (ch) | 13 Jan 16 | 830,000 | 6 | 49,800 | 2,807,766 | 0.630 |
| Diamondcorp* | Jonanthan Willis-Richards | 13 Jan 16 | 167,000 | 6 | 10,020 | 2,500,229 | 0.561 |
| Diamondcorp* | Paul Loudon (ce) | 13 Jan 16 | 830,000 | 6 | 49,800 | 6,977,604 | 1.567 |
| Faroe Petroleum | Graham Stewart (ce) | 11 Jan 16 | 109,141 | 53.348 | 58,224 | 951,553 | 0.355 |
| Faroe Petroleum | Helge Hammer | 11 Jan 16 | 71,936 | 53.348 | 38,376 | 499,349 | 0.186 |
| Faroe Petroleum | Dr John Cooper (cfo) | 11 Jan 16 | 73,714 | 53.348 | 39,325 | 174,127 | 0.065 |
| Fishing Republic | Steve Gross (ce) | 8 Jan 16 | 112,716 | 17.3 | 19,500 | 11,180,216 | 41.601 |
| Hansa Trust | Alex Hammond-Chambers (ch) | 12 Jan 16 | 2,500 | 780 | 19,500 | 4,900 | 0.061 |
| Henderson Opportunities Trust | PA Jones | 12 Jan 16 | 1,500 | 806.825 | 12,102 | 7,500 | 0.094 |
| Henderson Smaller Companies Investment Trust | Mary Sieghart | 12 Jan 16 | 1,470 | 678.125 | 9,968 | 5,918 | 0.008 |
| Inspiration Healthcare | Mark Abrahams (ch) | 11 Jan 16 | 125,000 | 40 | 50,000 | 155,154 | 0.506 |
| Inspirit Energy Holdings | John Gunn (ch & ce) | 7 Jan 16 | 5,000,000 | 0.395 | 19,750 | 360,029,580 | 46.228 |
| John Laing | Anne Wade | 7 Jan 16 | 10,000 | 205 | 20,500 | 20,256 | 0.006 |
| JPMorgan Japan Smaller Companies Trust | Y Nakajima | 13 Jan 16 | 5,000 | 263.3 | 13,165 | 5,000 | 0.011 |
| Majestic Wine | James Crawford (cfo) | 8 Jan 16 | 7,000 | 354.95 | 24,847 | 7,000 | 0.010 |
| Majestic Wine♥ | James Crawford (cfo) | 8 Jan 16 | 2,000 | 354.95 | 7,099 | 9,000 | 0.013 |
| Marks & Spencer | Alison Brittain | 11 Jan 16 | 2,500 | 428.586 | 10,715 | 5,096 | <0.001 |
| Marks & Spencer | Andrew Fisher | 11 Jan 16 | 3,536 | 428.456 | 15,150 | 3,536 | <0.001 |
| NewRiver Retail* | Allan Lockhart | 11 Jan 16 | 15,384 | 325 | 49,998 | 277,944 | 0.119 |
| NewRiver Retail* | David Lockhart (ce) | 11 Jan 16 | 18,000 | 325 | 58,500 | 1,740,000 | 0.746 |
| NewRiver Retail* | Mark Davies (fd) | 11 Jan 16 | 7,522 | 325 | 24,447 | 39,857 | 0.017 |
| NewRiver Retail* | Nick Sewell | 11 Jan 16 | 3,076 | 325 | 9,997 | 120,244 | 0.052 |
| OctagonalΩ | Martin Davison | 11 Jan 16 | 3,000,000 | 1.2 | 36,000 | 10,765,000 | 1.922 |
| OctagonalΩ | Martin Davison | 8 Jan 16 | 265,000 | 0.95 | 2,518 | 7,765,000 | 1.386 |
| PeerTV | Kavi Dhana | 13 Jan 16 | 302,432 | 1.85 | 5,595 | 974,463 | 7.915 |
| Personal Assets Trust | Robin Angus | 8 Jan 16 | 3 | 34,650 | 1,040 | 4,211 | 0.248 |
| Personal Assets Trust | Frank Rushbrook | 11 Jan 16 | 3 | 34,535 | 1,036 | 13,331 | 0.785 |
| Provexis | Ian Ford (fd) | 7 Jan 16 | 2,798,168 | 0.286 | 8,003 | 5,000,000 | 0.304 |
| Real Estate Investors | John Crabtree (ch) | 12 Jan 16 | 72,000 | 69.5 | 50,040 | 226,666 | 0.122 |
| Rolls-Royce★ | David Smith (cfo) | 12 Jan 16 | 203 | 557.942 | 1,133 | 20,578 | 0.001 |
| Rolls-Royce★ | Ruth Cairnie | 7 Jan 16 | 356 | 545 | 1,940 | 7,793 | <0.001 |
| Rolls-Royce★ | Colin Smith | 12 Jan 16 | 3,356 | 557.942 | 18,725 | 214,729 | 0.012 |
| Rolls-Royce★ | Ian Davis (ch) | 12 Jan 16 | 611 | 557.942 | 3,409 | 38,450 | 0.002 |
| Rolls-Royce★ | Ian Davis (ch) | 07 Jan 16 | 363 | 545 | 1,978 | 37,839 | 0.002 |
| Rolls-Royce★ | Sir Frank Chapman | 07 Jan 16 | 726 | 545 | 3,957 | 15,674 | 0.001 |
| Scottish Investment Trust (The) | Jane Lewis | 11 Jan 16 | 1,000 | 563.75 | 5,638 | 1,000 | 0.001 |
| Snoozebox* | David Morrison (ch) | 7 Jan 16 | 333,330 | 6 | 20,000 | 3,333,330 | 1.129 |
| Snoozebox* | Lorcán Murchu (ce) | 7 Jan 16 | 333,330 | 6 | 20,000 | 2,437,330 | 0.826 |
| Snoozebox* | Stephen East | 7 Jan 16 | 83,335 | 6 | 5,000 | 437,335 | 0.148 |
| Snoozebox* | Richard Davies | 7 Jan 16 | 83,335 | 6 | 5,000 | 433,335 | 0.147 |
| SVG Capital | Lynn Fordham (ce) | 11 Jan 16 | 21,403 | 475.991 | 101,876 | 520,565 | 0.308 |
| Thomas Cook | Michael Healy (cfo) | 7 Jan 16 | 20,000 | 115.5 | 23,100 | 1,184,632 | 0.077 |
| Thomas Cook | Peter Fankhauser (ce) | 7 Jan 16 | 20,000 | 116.6 | 23,320 | 2,229,377 | 0.145 |
| Tungsten Corp | Edmund Truell | 12 Jan 16 | 100,000 | 56.99 | 56,990 | 19,987,283 | 15.854 |
| Tungsten CorpΩ | Nick Parker (ch) | 13 Jan 16 | 100,000 | 39.75 | 39,750 | 221,250 | 0.176 |
| U and I | Richard Upton | 7 Jan 16 | 4,335 | 231 | 10,014 | 2,858,636 | 2.288 |
| U and I | Peter Williams | 11 Jan 16 | 50,000 | 230.064 | 115,032 | 20,000 | 0.016 |
| Vast Resources* | Roy Tucker (fd) | 11 Jan 16 | 5,208,312 | 0.8 | 41,666 | 31,607,029 | 1.684 |
| Vast Resources* | Graham Briggs | 11 Jan 16 | 4,166,625 | 0.8 | 33,333 | 4,166,625 | 0.222 |
| WYG | Jeremy Beeton | 8 Jan 16 | 5,000 | 140.25 | 7,013 | 5,000 | 0.007 |
| WYG | Nick Masom | 8 Jan 16 | 28,590 | 139.89 | 39,995 | 28,590 | 0.042 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Bango | Anil Malhotra | 7 Jan 16 | 20,000 | 105 | 21,000 | 3,986,815 | 6.188 |
| Best of the Best | Colin Hargrave | 13 Jan 16 | 10,000 | 175 | 17,500 | 116,579 | 1.203 |
| China Nonferrous Gold | Abuali Ismatov | 8 Jan 16 | 2,502,603 | 22.8 | 570,593 | 0 | 0.000 |
| Concha | Mark Horrocks | 13 Jan 16 | 1,000,000 | 0.85 | 8,500 | 8,285,714 | 0.528 |
| Concha | Mark Horrocks | 12 Jan 16 | 5,000,000 | 0.845 | 42,250 | 9,285,714 | 0.592 |
| Fulcrum Utility Services | Martin Harrison (cfo) | 11 Jan 16 | 128,000 | 28 | 35,840 | 208,538 | 0.134 |
| Fuller Smith & Turner | Richard Fuller | 11 Jan 16 | 1,000 | 1,165 | 11,650 | 7,106 | 0.022 |
| Hargreave Hale AIM VCT 2 | Giles Hargreave | 13 Jan 16 | 46,950 | 101 | 47,420 | 117,201 | 0.450 |
| ITE | Neil Jones (fd) | 12 Jan 16 | 15,000 | 147.81 | 22,172 | 175,868 | 0.068 |
| Topps Tiles | Matthew Williams (ce) | 7 Jan 16 | 16,000 | 153 | 24,480 | 1,733,289 | 0.891 |
| Topps Tiles ♥ | Matthew Williams (ce) | 7 Jan 16 | 24,000 | 150 | 36,000 | 1,709,289 | 0.878 |
| Tracsis | John McArthur (ce) | 08 Jan 16 | 120,000 | 515.9 | 619,080 | 1,062,783 | 3.891 |
| UK Mail | Steven Glew (fd) | 12 Jan 16 | 27,194 | 259.5 | 70,568 | 155,812 | 0.283 |
| *Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust †Depositary receipts ★ C Share Reinvestment Plan | |||||||
