focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Momo Que?
LTH know what's in play. Derampers do one. It will happen when it happens,go and get some sun. Chill! For gods sake! Talk on here is getting beyond a joke.
Jog on muppet
Yeah defo being held back,ha,ha
Obviously being held back.
answers appreciated, undersold? Awaiting info?
High risk, high reward, great team at helm, turnaround PLC . 20015 now 0.18 wait till years end it will be well on its way into orbit, of course I'm ramp-ng as an investor. Contracts on the way.Rocket man! Research board.
The founder of Cove Energy sold up for a big profit but says there is still oil to be found For a man who has just made a fortune selling Cove Energy, the Mozambique explorer he founded and ran, John Craven appears to be a little downcast. By his own admission, he is an obsessive geologist. He has spent the past three years poring over seismic data to develop the world’s most exciting gas discovery in recent times. Now the time has come for him to hand over his baby. The Thai state-backed group PTT Exploration and Production announced on Friday that all the conditions for its £1.22 billion takeover had been met. “The project has become addictive,” Mr Craven tells The Times. “I’ll miss it when it’s gone. Most geologists who get in a play like this really enjoy it. You don’t want to let it go.” He is going to take a long holiday, his first break for years, and is under orders not to go anywhere where volcanoes or other geological features will distract him. He promises that East Africa is not on his itinerary, but doesn’t sound entirely convincing. Mr Craven does not fit the stereotype of swashbuckling oil explorers. Softly spoken and with the air of an Oxford don, he shifts uneasily in his chair when asked about his estimated £22 million payout from selling his stake. “You’ll have to look at the offer document,” he says. It’s not a bad return from his original investment of £250,000, even if he is too modest to say so. Cove Energy’s prize asset is an 8.5 per cent stake in the Rovuma gasfield off the coast of Mozambique. Operated by the American independent Anadarko, it contains 30 trillion to 60 trillion cubic feet of recoverable gas, equivalent to more than five times what remains in the North Sea. The region is the hottest exploration province in the world. With the technology — and economics — now in place to ship the gas in liquid form as LNG to energy-hungry Asian markets, every big oil company wants a piece of the action. When Cove’s management put the company up for sale in December, the bidding war that unfolded was the most dramatic witnessed by the City for some time. The share price was 95p at the start of the process, and Mr Craven admits to privately hoping for a deal somewhere above 150p. When bidding finally ended last month, Cove was sold for 240p a share, a premium of more than 150 per cent. “It was a superb result — it exceeded expectations,” he said. The story would have been different had Mr Craven not enjoyed a huge slice of good fortune almost 30 years ago. He was in charge of exploration for the American company Gulf Oil (later acquired by Chevron), which was drilling off the coast of Ireland. In the days when rig locations were marked by hand on maps with red crayons, he accidentally ordered the second well to be drilled in the middle of a busy shipping lane. After a frantic weeke