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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cove Energy | LSE:COV | London | Ordinary Share | GB0034353531 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 239.50 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
02/3/2012 09:04 | The rate of tax for starters | steeplejack | |
02/3/2012 08:57 | What clarification do they need? Esperanca Bias is Minister of Mineral Resources. | oldtown | |
02/3/2012 08:51 | Not as much as Mozambique do.... Bet Anadarko are very, very nervous right now...would love to be a fly on the wall... | robs12 | |
02/3/2012 08:47 | The world needs the gas to flow!! | steeplejack | |
02/3/2012 08:44 | Mozambique need the gas/oil(!?) to flow in order to get cash. Then they will do well. They get (significant) tax revenue & further investment in the country. In order for that to happen they HAVE to have the cooperation of overseas investors (e.g. us shareholders). Start introducing (stunningly stoopid) surprises like this and the investors (we) will walk away. Everyone loses, but especially Mozambique. They cannot rewrite the rulebook once the game has started, or the players walk off & go play somewhere else. I suspect a particular poli has decided they can win a few easy votes by suggesting this, rather than engaging brain. 'Tis the way with poli's...! We shall see. | robs12 | |
02/3/2012 08:41 | Have a look at JKX ninja mate Bombed out oiler, great news yesterday, results EoM. £3 targets. | the ballcock | |
02/3/2012 08:39 | Mozambique is entitled to tax a very swift gain by Covet but it's the implications for the country and foreign investment policy going forward.Will other East African countries follow this example,they'll be watching with interest.Meanwhile,S | steeplejack | |
02/3/2012 08:32 | It's poor country, and they need the cash. At the end it's fair. | ninja 19 | |
02/3/2012 08:30 | I would expect a compromise to be agreed on the rate but there is no way the Mozambique Government are going to let this slide. They are in a very powerful bargaining position here. Its not exactly immoral what they are trying to enforce here and I don't think it would deter any new bidders for further licensing rounds. The riches on offer are too great. Public debt is Moz is around $6bn. A few hundred million dollars makes a huge difference for them. | horndean eagle | |
02/3/2012 08:29 | Storm in a teacup: Fox Davies Capital (LON:COV) (COV LN, 226.0p, ▼ 6.6%): Clarification on the press speculations The Company has denied the recent press statements which report that Cove is liable to tax in connection to the proposed indirect transfer of the Company's 8.5% interest in the Rovuma Offshore Area 1 block in Mozambique. Cove Energy has said in the release today, that it is seeking clarity on the issue from the government and will make an official announcement when appropriate. We expect positive movements today. | liam1om | |
02/3/2012 08:24 | offer for share £2.20 CGT @35% =.77p = £1.43 per share after tax | itsonlyme2 | |
02/3/2012 08:24 | The risk arbitragers are being flushed out.I'm going to hold in given my book price is pre the Shell bid but Johnny-come-lately has been stuffed here. | steeplejack | |
02/3/2012 08:20 | wow thats going to be alot of money, people buying in at 2.30-2.40 will be abit miffed now | itsonlyme2 | |
02/3/2012 08:20 | If companies don't play ball then the Mozambique govnt simply withholds permission for the deals to go ahead,that's the problem. | steeplejack | |
02/3/2012 08:18 | Just looking at CGT rates in Mozambique and they aren't exactly low. 35% I believe. | horndean eagle | |
02/3/2012 08:10 | Im out today. I think the Mozambique Government are going to be very aggressive in pursuing COV for the tax. If they don't then they risk missing out on billions more when Anadarko and other partners farm down. An Indian bid of 245 would if you slapped a 25% tax on the gain bring any offer down below 200. Its going to be a drawn out affair whatever happens. | horndean eagle | |
02/3/2012 08:10 | whats going on | itsonlyme2 | |
02/3/2012 08:01 | Sure all will be clarified in "African Time" ie ten years or so. This ill-conceived comment of intent by the the Government has simply muddied the waters and added complications to the bidding process.Result,bid process slows awaiting clarification and any bid premium for future approaches evaporates. | steeplejack | |
02/3/2012 07:58 | Dare to say it...Mozambique are being very silly. | robs12 | |
02/3/2012 07:56 | Steeple jack if Cove shareholders get say Shell shares where will the money come to pay the Mozambique Govt ? Am I as a Cove shareholder then expected to pay the Mozambique Govt CGT when I selll my shares ? | talkman2 | |
02/3/2012 07:53 | AAA Your point is well made. Exxon may well move on APC one day and take them over. I doubt they would be planning on having to pay Moz for the privilege. And what about ENI - same thing. But I still reckon bidders will have been well aware of the potential for a tax issue. We're going to find out! JMHO DYOR | plunger2 | |
02/3/2012 07:52 | I'd be surprised if a paper rather than a cash bid is going to throw the Mozambique government off the scent.The 8.5% Rovuma offshore interest was purchased from Artamus in early 2009,renamed Wentworth in 2010,for next to nothing (about $12m?). Artamus were in a right financial mess at the time.The size of Cove's capital gain will not be lost on the Moz.government. | steeplejack |
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