CNVGF
Cove Energy PLCGrey Market
CNVGF is defunct.
  • Jul. 31, 2012, 12:40 PM
    PTT says Cove Energy (CNVGF.PK) shareholders who collectively own 91.4% of the company have accepted its takeover offer, adding that as a result the offer has become unconditional as to acceptances.
    | Jul. 31, 2012, 12:40 PM
  • Jul. 16, 2012, 10:59 AM

    Royal Dutch Shell (RDS.A +0.4%) says it will not revise its offer for Cove Energy (CNVGF.PK), effectively conceding the auction of the company to PTT. Shell had been interested in acquiring Cove in order to enter potential liquefied natural gas developments in Mozambique and other exploration positions in the region. (earlier)

    | Jul. 16, 2012, 10:59 AM
  • Jul. 16, 2012, 3:14 AM

    Thai energy company PTT extends for the third time its $1.9B offer for Cove Energy, but doesn't sweeten the terms; today is the deadline for PTT and rival suitor Shell (RDS.A) to make their final bids or else begin the first formal takeover auction for a listed British company since 2008. (previously)

    | Jul. 16, 2012, 3:14 AM
  • Jul. 12, 2012, 3:01 AM

    Shell (RDS.A) extends its offer for Cove Energy to July 25, its fourth such extension. As of yesterday, just 3.27% of Cove's shares had been tendered to Shell. (PR, previously)

    | Jul. 12, 2012, 3:01 AM
  • Jul. 9, 2012, 8:14 AM

    Thai energy company PTT extends the deadline for its offer to buy Cove Energy (CNVGF.PK) until July 13 after it received acceptance from just 0.25% of Cove's investors by the previous July 6 deadline. PTT is locked in a battle with Royal Dutch Shell (RDS.A, RDS.B) to take control of the Mozambique-focused explorer.

    | Jul. 9, 2012, 8:14 AM
  • Jun. 28, 2012, 3:38 AM
    Shell (RDS.A) extends its bid for Cove Energy (CNVGF.PK) to July 11, having received acceptances of the offer totaling just 3.46% of Cove's shares.
    | Jun. 28, 2012, 3:38 AM
  • Jun. 14, 2012, 10:26 AM
    Royal Dutch Shell (RDS.A) extends the deadline for its £1.12B ($1.74B) offer to acquire Cove Energy. Shell is still trying to persuade Cove shareholders to back its offer instead of PTT's £1.22B ($1.... but so far only 4.8% have done so. Cove and Anadarko recently have announced new discoveries of natural gas deposits in Mozambique, sparking hopes of a higher offer.
    | Jun. 14, 2012, 10:26 AM
  • May 24, 2012, 3:27 AM

    Shell (RDS.A) extends its $1.8B offer to acquire Cove Energy (CNVGF.PK) to June 13, after Thailand's PTT Exploration came in with a higher $1.9B bid yesterday, sending Cove shares +11.2% in London to 249p, above PTT's 240p/share bid. Some expect Shell to pony up as much as $2.5B; Shell plays coy - it's "considering its options and will make a further announcement if appropriate." (previously)

    | May 24, 2012, 3:27 AM
  • May 23, 2012, 2:40 PM
    Cove Energy (CNVGF.PK) shares end +11.2% in London to 249p, above the new 240p/share bid from Thailand's PTT and indicating investors think Royal Dutch Shell (RDS.A -2%) may raise the offer. Heard On The Street's Andrew Peaple calculates Shell could yet pay up to $2.5B for Cove; it also has more firepower than PTT, with net debt to equity of 9.9% vs. PTT's 33%.
    | May 23, 2012, 2:40 PM
  • May 23, 2012, 3:29 AM

    Thailand's PTT Exploration and Production trumps Shell's (RDS.A) bid for Cove Energy (CNVGF.PK), offering £1.22B ($1.9B) for the Mozambique-focused explorer. Cove's management says it now backs PTT's bid, with the reversal coming just hours ahead of a deadline for investors to accept Shell's $1.8B offer. Shell -1.2% in London.

    | May 23, 2012, 3:29 AM
  • May 21, 2012, 12:29 PM
    With just days remaining before a deal deadline, Cove Energy (CNVGF.PK) says it continues to believe the $1.8B offer from Royal Dutch Shell (RDS.A, RDS.B) is in the best interests of shareholders. Cove's earlier announcement that it found even more gas on its license in Mozambique has not sparked a bid battle for the company.
    | May 21, 2012, 12:29 PM
  • May 9, 2012, 3:32 PM

    Mozambique President Emilio Guebuza confirms talks with Royal Dutch Shell (RDS.A) about developing the country's natural gas resources, including a possible LNG "mega-project," and approves of Shell's $1.8B bid for Mozambique-focused gas producer Cove Energy (CNVGF.PK). "We want them to develop profits for shareholders," Guebuza says.

    | May 9, 2012, 3:32 PM | 2 Comments
  • Apr. 24, 2012, 2:32 PM

    Rivals are unlikely to trump Shell's (RDS.A) latest bid for Cove Energy (CNVGF.PK), Alexis Flynn writes, even as Cove shares top Shell's 220p offer price in London trading. Cove is run by ex-Shell veteran Michael Blaha, and Shell’s track record of developing large-scale gas infrastructure surely is a big draw for the Mozambique government.

    | Apr. 24, 2012, 2:32 PM
  • Apr. 24, 2012, 4:09 AM

    Cove Energy's (CNVGF.PK) board will recommend shareholders accept an increased cash offer from Shell Exploration and Production (a subsidiary of RDS.A). Shell's sweetened offer of 220 pence/share values Cove at £1.12B ($1.8B).

    | Apr. 24, 2012, 4:09 AM | 2 Comments
  • Feb. 28, 2012, 8:30 AM

    India’s state-run Oil and Natural Gas Corp. and GAIL (India) Ltd., a state-owned natural gas processing firm, say they are considering a bid for African nat gas explorer Cove Energy (CNVGF.PK), but have yet to decide whether to make a formal offer. Royal Dutch Shell (RDS.A) and Thailand's PTT have already submitted bids. Cove +1.8% in London trading.

    | Feb. 28, 2012, 8:30 AM
  • Feb. 24, 2012, 2:09 PM

    Thai oil and gas company PTT Exploration and Production submits a £1.1B bid ($1.7B) for African explorer Cove Energy (CNVGF.PK +19%), trumping a previous offer from Royal Dutch Shell (RDS.A). Cove’s board, which had previously supported Shell’s bid, says it is reviewing both offers and that no decision has been made.

    | Feb. 24, 2012, 2:09 PM