Director/PDMR Shareholding

RNS Number : 0416A

Hurricane Energy PLC

24 September 2020

 

24 September 2020

Hurricane Energy plc

("Hurricane" or the "Company")

Director/PDMR Shareholdings

Hurricane Energy plc, the UK based oil and gas company, 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	150,000	2.9700p
Dr David Jenkins	Non-Executive Director	145,000	2.9718p
John van der Welle	Non-Executive Director	150,000	2.9300p
Sandra Shaw	Non-Executive Director	164,474	3.0400p
Beverley Smith	Non-Executive Director	334,448	2.9900p
Antony Maris	Chief Executive Officer	169,084	2.9571p
Steve Holmes	Chief Operations Officer	49,198	3.0187p

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)  Beverley Smith f)  Antony Maris g)  Steve Holmes
2.	Reason for the notification
a)	Position/status:	a)  Chairman b)  Non-Executive Director c)  Non-Executive Director d)  Non-Executive Director e)  Non-Executive Director f)  Chief Executive Officer g)  Chief Operations Officer
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)  2.9700p b) 2.9718p c) 2.9300p d) 3.0400p e) 2.9900p f) 2.9571p g) 3.0187p a)  150,000 b)  145,000 c)  150,000 d)  164,474 e)  334,448 f)  169,084 g)  49,198
d)	Aggregated information:	See above 4 (c)
e)	Date of the transaction:	(a)/(b)/(c)/(e)/(f)/(g): 23 September 2020 (d): 24 September 2020
f)	Place of the transaction:	London Stock Exchange (AIM)

Contacts: 

Hurricane Energy plc Antony Maris, Chief Executive Officer Philip Corbett, Head of Investor Relations	[phone]
Stifel Nicolaus Europe Limited Nominated Adviser & Joint Corporate Broker Callum Stewart / Ashton Clanfield	[phone]
Morgan Stanley & Co. International plc Joint Corporate Broker Andrew Foster / Tom Perry / Alex Smart	[phone]
Vigo Communications Public Relations Patrick d'Ancona / Ben Simons [e-mail]	[phone]

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

 

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