See also April 8th comment- closing positive view with 79% relative return.

Almost every time I’ve looked at directors dealings over the last few weeks I spot a small resources company. This time it is Heritage Oil (HOIL, 253p).

Heritage initiated a London listing in April this year, trading around the 300p mark, before heading up to a high of 350p in June and a low of 190p in August.

Non exec directors Michael Hibberd and Gregory Turnbull each bought 50,000 shares on 5th September at 215p and 212p respectively.

Hibberd followed this up with a further purchase of 75,000 shares at 182p on September 16th, taking his holding to 125,000 shares (plus options on 1.15m shares). Turnbull now holds 350,000 shares (and options on 600,000).

Good news? Each investing GBP 100k-250k. Two directors. decent percentage of existing (Hibberd new position and Turnbull 17%). But I’d like to see more directors buying for this to get a ‘STRONG signal’ rating.

Signal strength: MEDIUM