Shell has confirmed a deal with Cove Energy in its bid to target East Africa.
Oil giant Royal Dutch Shell has agreed to buy an East Africa-focused exploration firm for £1.1 billion amid predictions that the region will become a major natural gas source.
Shell has offered 220p a share for London-listed Cove Energy, which has major operations in Mozambique, Kenya and Tanzania, matching a rival bid made by Thai state-controlled oil firm PTT.
The oil and gas industry has taken increased interest in East Africa after large gas discoveries were made in the region, with analysts predicting a hive of activity as exploration firms seek to satisfy high demand in Asia for liquid natural gas (LNG).
Michael Blaha, Cove executive chairman and a former Shell employee of 29 years, said Shell would be an "excellent partner" given its "project development, operating and marketing experience" in the LNG industry.
- Forums
- ASX - By Stock
- FAR
- cove sold
cove sold
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
|
|||||
Last
49.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $45.28M |
Open | High | Low | Value | Volume |
49.0¢ | 49.0¢ | 49.0¢ | $10.77K | 21.98K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 14178 | 49.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.0¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 14178 | 0.490 |
2 | 30000 | 0.485 |
4 | 87930 | 0.480 |
2 | 70000 | 0.475 |
2 | 78150 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 10000 | 1 |
0.510 | 129688 | 3 |
0.515 | 2239 | 1 |
0.520 | 79910 | 2 |
0.525 | 30000 | 1 |
Last trade - 12.19pm 25/07/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |