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Simon Escott [pictured], Chief Executive of Baltic Oil Terminals plc, has purchased 50,000 ordinary shares of 1p each in the company at 16.75p per share, according to a regulatory announcement at the London Stock Exchange.

Following this purchase, Escott has an interest in 4,766,500 shares, representing approximately 5.04 percent of the company's issued shares.

Baltic Oil Terminals plc is a UK public company listed on the AIM market in London. It operates and leases terminals and tank capacity in Kaliningrad, Rotterdam and Aabenraa. In December 2010, the company entered into an agreement for the acquisition of Petroval Bunker International B.V., a fuel oil storage and bunker supply business based in Rotterdam, from Petroval Pte. Ltd. for US$10.8 million in cash.

Petroval operates two heated fuel oil tanks with a total capacity of 120,000 cubic metres, in Europoort Rotterdam, which it leases from Vopak. The current leases expire in April 2014.

In November 2011, Baltic Oil Terminals entered into an agreement for the acquisition of Haahr Tank-Lager A/S for US$9.9 million in cash. The business, which has been re-named Dan-Balt Tank Lager A/S, operates a 160,000 cubic metres refined oils terminal at Aabenraa in Denmark.

Simon Escott - Career Summary

Escott has extensive management experience in the oil and gas and petrochemical industries. He is a qualified Petroleum and Mechanical Engineer and has worked in a senior capacity for ESSO GmbH, BP Brazil, Phillips Petroleum Incorporated, Elf Aquitaine S.A., Pennzoil/Cities Services (Brazil), Norsk Hydro A/S, Saga Petroleum A/S, Zhetybay Quest Petroleum GmbH, Reliance Industries Limited and the Mannai Corporation WLL.

He has run major construction projects for Brown & Root Incorporated in the North Sea and for ABB Lummus Crest Incorporated in India.

In 1992, Escott was a Project Director for the Russian World Bank Oil Rehabilitation Loans 1 and 2, based in Moscow and Siberia. He co-founded Baltic Oil Terminals in 2004.