Regulatory Story
Go to market news section View chart   Print
Magnolia Petroleum Plc  -  MAGP   

Directors' Dealings

Released 07:00 28-Jan-2013

Directors' Dealings

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas      

28 January 2013

              Magnolia Petroleum Plc(`Magnolia' or `the Company')              

                              Directors' Dealings                              

Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and
production company, received notification on 25 January 2013 that Steven Snead,
the CEO, Ronald Harwood, a non-executive director, and Gavin Burnell, a
non-executive director, have each made the following purchases in the ordinary
shares of the Company:

  Director     Date of     Ordinary     Price     Subsequent   % of Issued 
              Purchase      Shares      paid       Holding        Share    
                          Purchased                              Capital   
Steven Snead 25 Jan 2013      500,000      2.9p    200,415,998        23.56
Ronald       24 Jan 2013      850,000      2.9p     30,582,426         3.60
Gavin        25 Jan 2013      200,000     2.92p     14,385,797         1.69


For further information on Magnolia Petroleum Plc visit or contact the following:

Steven Snead                Magnolia Petroleum Plc         +01 918 449 8750    
Rita Whittington            Magnolia Petroleum Plc         +01 918 449 8750    
Antony Legge/James Thomas   Daniel Stewart & Company Plc   +44 (0) 20 7776 6550
John Howes/John-Henry Wicks Northland Capital Partners     +44 (0) 20 7796 8800
Lottie Brocklehurst         St Brides Media and Finance    +44 (0) 20 7236 1177
Frank Buhagiar              St Brides Media and Finance    +44 (0) 20 7236 1177


Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration
and production company.  Its portfolio includes interests in 90 producing and
non-producing assets, primarily located in the highly productive Bakken/Three
Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich
Mississippi Lime and the substantial and proven Woodford and Hunton formations
in Oklahoma.

Summary of Wells

Category                                                      Number of wells
Producing                                                                  90
Being Drilled/Completed                                                    15
Elected to participate/waiting to spud                                     17
TOTAL                                                                     122

This summary excludes four out of six wells acquired as part of the acquisition
of 800 gross acres with a 100% working interest in Osage County, Oklahoma, as
announced on 10 February 2012. These four wells are currently `shut in' and
will require a workover programme at some point in the future to bring back
into production.


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Directors' Dealings - RNS