TIDMPXOG

RNS Number : 9780W

Prospex Oil and Gas PLC

07 August 2018

Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas

7 August 2018

Prospex Oil and Gas Plc

('Prospex' or the 'Company')

Director/PDMR Notification

Prospex Oil and Gas Plc, the AIM quoted investment company, announces that James Smith, Non-Executive Director of the Company, yesterday purchased 3,000,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 0.36 pence per Ordinary Share.

Following the abovementioned purchase, Mr Smith is interested in 10,000,000 Ordinary Shares, representing approximately 0.82 per cent. of the Company's issued share capital.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

* * ENDS * *

For further information visit www.prospexoilandgas.com or contact the following:

 
Edward Dawson    Prospex Oil and Gas Plc       Tel: +44 (0) 20 3766 
                                                0325 
Rory Murphy      Strand Hanson Limited         Tel: +44 (0) 20 7409 
 Ritchie Balmer                                 3494 
 Jack Botros 
Duncan Vasey     Peterhouse Corporate Finance  Tel: +44 (0) 20 7469 
                                                0932 
Frank Buhagiar   St Brides Partners Ltd        Tel: +44 (0) 20 7236 
 Charlotte Page                                 1177

Notes

Prospex Oil and Gas Plc is an AIM quoted investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low cost re-evaluation techniques to identify and de-risk prospects.

PDMR Notification

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              James Smith 
     --------------------------------  ------------------------------------ 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------- 
 a)   Position/status                   Director of the Company 
     --------------------------------  ------------------------------------ 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  ------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                              Prospex Oil and Gas Plc 
     --------------------------------  ------------------------------------ 
 b)   LEI                               213800NY9RH8O1B72D27 
     --------------------------------  ------------------------------------ 
 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      Ordinary shares of 0.1p each in the 
       instrument, type of instrument    share capital of the Prospex Oil & 
                                         Gas plc 
     --------------------------------  ------------------------------------ 
      Identification code               GB00BW4NPC58 
     --------------------------------  ------------------------------------ 
 b)   Nature of the Transaction         Purchase of Ordinary Shares 
     --------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)             Price(s)      Volume(s) 
                                          0.36 pence    3,000,000 
                                                       ---------- 
     --------------------------------  ------------------------------------ 
 d)   Aggregated information            3,000,000 
       Aggregated volume Price           0.36 pence 
     --------------------------------  ------------------------------------ 
 e)   Date of the transaction           6 August 2018 
     --------------------------------  ------------------------------------ 
 f)   Place of the transaction          AIMX 
     --------------------------------  ------------------------------------

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 rns@lseg.com or visit www.rns.com.

END

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August 07, 2018 02:01 ET (06:01 GMT)

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