PTT Exploration & Production to Request London Stock Exchange to Delist Cove Energy
01 Agosto 2012 - 12:30AM
Dow Jones News
By Phisanu Phromchanya
BANGKOK--PTT Exploration and Production PCL (PTTEP.TH) said
Wednesday it plans to request that the London Stock Exchange delist
shares of Cove Energy PLC (COV.LN) from its Alternative Investment
Market after Cove's shareholders, who collectively own 91.4% of the
company, accepted a cash offer by a unit of the Thai company to buy
Cove.
PTT Exploration will proceed to seek written consent from the
Republic of Mozambique's Ministry of Mineral Resources to take
control of Cove, the Thai firm said in a statement to the Stock
Exchange of Thailand.
Cove has an 8.5% participating interest in the Rovuma Project in
Mozambique, which has estimated gas reserves of up to 60 trillion
cubic feet. It also has a 10% stake in the Rovuma Onshore Area,
also in Mozambique, as well as interests ranging from 10%-25%
across seven blocks offshore of Kenya deepwater.
Write to Phisanu Phromchanya at
phisanu.phromchanya@dowjones.com
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