Hurricane Energy PLC Director/PDMR Shareholdings (3705L)

TIDMHUR

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 GBP0.001 each in the Company ("Ordinary Shares").

A summary of the transactions follows:

 
 Name                Position                               Ordinary        Average Price 
                                                    Shares Purchased    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 
                    ----------------------------  ------------------  ------------------- 
                     Acting Chief Financial 
 Richard Chaffe       Officer                                 44,297             11.2869p 
                    ----------------------------  ------------------  ------------------- 
 Melissa Clare       General Manager (Aberdeen)               44,297             11.2869p 
                    ----------------------------  ------------------  ------------------- 
                     Subsurface Technical 
 Moira Slightam       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                Ordinary shares of 0.1p each in Hurricane 
       financial instrument,             Energy plc ("Shares") 
       type of instrument:               ISIN: GB00B580MF54 
       Identification code: 
     --------------------------------  ------------------------------------------ 
 b)   Nature of the transaction:        Open market purchase of Shares. 
     --------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s):             Price(s)       Volume(s) 
                                           a) 10.8300p    a) 100,000 
                                            b) 10.4000p    b) 50,000 
                                            c) 10.2839p    c) 50,000 
                                            d) 11.2869p    d) 44,297 
                                            e) 11.2869p    e) 44,297 
                                            f) 11.2869p    f) 44,297 
                                            g) 11.2869p    g) 44,297 
                                            h) 11.2869p    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                           [phone] 
  Dr Robert Trice, Chief Executive Officer       820 
 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 
                =========================================== 
 

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 [e-mail] or visit www.rns.com.

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April 29, 2020 10:20 ET (14:20 GMT)