Tuesday January 21, 2020

Cove puts exploration stock back in vogue

Exploration stock is in fashion among Irish investors, thanks to the fairytale ending experienced by Cove Energy, which was founded by Fastnet backer John Craven.

13th October, 2012

Exploration stock is in fashion among Irish investors, thanks to the fairytale ending experienced by Cove Energy, which was founded by Fastnet backer John Craven.

Thai energy company PTT sealed the deal to buy Cove for $1.9 billion (€1.5 billion) after pipping Shell at the post in a bidding war. The company has an 8 per cent share in a gas field in Mozambique, which caught the eye of the international exploration players.

That deal netted Cove's...

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