LONDON (ShareCast) - Three directors at Wessex Exploration have demonstrated their support for the oil and gas group after it said no hydrocarbons were found at the GM-ES-3 well in French Guiana.

Drilling activities have been terminated and the well is being plugged and abandoned, the firm said.

The biggest purchase was made by Andrew Yeo, the company's Chief Financial Officer, who bought 3.1m shares at 1.40p a time, costing him a total of £43,391.

Chairman of the group, Dr Malcolm Butler, purchased 1.0m shares 1.42p for £14,200, while non-Executive Director Iain Patrick bought 930,000 at 1.50p each for £13,950.

The company said the drilling rig will move onto GM-ES-4 exploratory well, which is designed to test a different fan system to the previous three wells drilled by the joint venture. The well is expected to be drilled in early May.

In a statement issued Tuesday morning, Butler said: "We look forward to drilling GM-ES-4 on the separate, Cebus fan and continue our programme of delineating potential new prospects through the interpretation of 3D seismic data on the Central Area."


Top Director Buys

Vesuvius (VSVS)
Director name: Mr Christer Gardell
Amount purchased: 450,000 @ 325.00p
Value: £1,462,500

Vesuvius (VSVS)
Director name: Mr Christer Gardell
Amount purchased: 429,396 @ 327.00p
Value: £1,404,125

Northbridge Industrial Services (NBI)
Director name: Mr Peter Harris
Amount purchased: 100,000 @ 327.50p
Value: £327,500

Bank of America Corp. (BAC)
Director name: Mr R David Yost
Amount purchased: 20,000 @ $11.51
Value: $230,282

Phaunos Timber Fund Ltd. (PTF)
Director name: Sir Henry Studholme
Amount purchased: 90,000 @ $0.51
Value: $46,125

Wessex Exploration (WSX)
Director name: Mr Andrew Yeo
Amount purchased: 3,099,334 @ 1.40p
Value: £43,391

Shanta Gold Ltd. (SHG)
Director name: Mr Anthony Durrant
Amount purchased: 100,000 @ 14.50p
Value: £14,500

Wessex Exploration (WSX)
Director name: Dr Malcolm Butler
Amount purchased: 1,000,000 @ 1.42p
Value: £14,200

Amur Minerals Corporation NPV (AMC)
Director name: Mr Robin Young
Amount purchased: 184,176 @ 7.68p
Value: £14,145

Wessex Exploration (WSX)
Director name: Mr Iain Patrick
Amount purchased: 930,000 @ 1.50p
Value: £13,950


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