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	[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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