Cove offers nice shelter for exploration investors

Dolmen clients set for big profit, and Petroceltic looks positive, writes Samantha McCaughren.

26th February, 2012
Cove offers nice shelter for exploration investors
John Craven, chief executive of Cove, has a stake in the firm worth tens of millions of euro. Photo: Tony O'Shea

Exploration stocks are risky by nature, but interest in the sector has shot up as hundreds of small Irish investors look forward to a very nice return on their punt on Cove Energy.

Last Friday, a new offer for Cove trumped the €1.17 billion bid from Shell earlier in the week. PTT Exploration, Thailand's national petroleum exploration and production company, is now proposing to pay 220p per Cove share. This would represent a premium of...

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