FSA has fined the CEO, chief commercial officer and exploration manager of Genel Enerji, a Turkish oil exploration company, a total of £1.16 million for market abuse. The individuals were all aware of the results of the findings of a joint venture of which Genel Enerji was part with a UK-listed company (Heritage). They dealt in Heritage shares two days before Heritage published positive findings from a joint venture project and then sold the shares when publication of the findings led to a large increase in the value of the shares. They made over £300,000 profit between them. The three individuals contacted FSA three months after the trading to offer to disgorge the profits and admit what they had done. The fines include the profit disgorgement.