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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 22:05 | I find this FT article fascinating: There is a clear implication that there is a precedent for no tax on a similar transaction (i.e. Riversdale Mining being taken over by Rio Tinto); also the bit about the IMF coming in to help a review of tax. This sort of precedent is very important in the international community; the concept of Moz re-writing its laws retrospectively would cause them serious grief throughout the world. Perhaps the minister was talking aspirationally; in which case we're back to talking "hello money" at the very best (not tax) and even that premise would be tricky for Moz. It seems like COV (and their team) could yet have a few aces to play. Of course I'm only guessing but it's a tad interesting. JMHO DYOR | plunger2 | |
02/3/2012 20:26 | value will out - tax or not :) | eelanguilla | |
02/3/2012 18:27 | Presumably with a cat in it.... :-) | plunger2 | |
02/3/2012 18:03 | This is nothing a brown paper bag won't sort out. DYOR JMHO !!!!! | deckav | |
02/3/2012 17:11 | wasn´t there a story two years ago with Cove and some mad statement from a minister somewhere as well? storm in a teacup....I´m pretty sure that somebody will be having a nice word in someone´s ear about the minister in question........... where did "oldtown" crawl out of? probably got mouthwash and the meths mixed up...... | thecynical1 | |
02/3/2012 16:53 | I reckon the sky will fall on our heads around the same time | fraserdean | |
02/3/2012 16:16 | AAA maybe they dont want huge revenues maybe they want all the resources for themselves, if they dont appove delvelopment on envirolmental grounds what happens when the licences run out the government get the lot, that will make the revenues look like peanut money, who knows whats in their minds | itsonlyme2 | |
02/3/2012 16:15 | Greed changes everything! | hermana3 | |
02/3/2012 16:09 | Don't forget Teodoro Nguema, son of the E Guinea president, he was having a yacht built with a shark tank in it and had a black panther on a chain, met him once before they got all that rich, very polite young man | fraserdean | |
02/3/2012 16:05 | i believe the motor of choice for african dictators and corrupt govmt officials is the classic mercedes 600, in black of course. | 5bag | |
02/3/2012 15:42 | itsonlyme2 - IMO you a wrong, the Government need oil/gas revenues and external investment - why would they want to potentially hold up huge revenues for the sake of what can only be a reatively small receipt. Is is a question of legality - South Africa and Madagascar have both lost legal challenges to their energy ministries recently - and make no mistake if they adopt the Mugabee system of justice they are well and truely stuffed. | aaainvestment | |
02/3/2012 15:39 | The governmnet hasn't said it, one minister has made one comment. Very different as until it is repeated or said by someone more senior it is easy to retract of alter. Yes, this could be protracted, but it could also be sorted very quickly indeed behind closed doors which is what Cove will be trying to do this weekend you'd imagine. | fraserdean | |
02/3/2012 15:37 | How much are the Mozabique assets worth and how much are the Kenyan assets worth?. | squintyflinty11 | |
02/3/2012 15:25 | The British are perfect and wonderful in every way and you're lucky there's just a smigeon of Irish blood in me so i won't give you a jolly good ticking off Liam.I don't know, you'll be banging on about the black and tans next! | steeplejack | |
02/3/2012 15:23 | Its not a question now if its legal or not, the government have stated that they want some tax, end of, all the government have to do is sit back and wait for the sale approval to arrive on their desk and just sit on it,they can consider it for as long as they want months years even or until the laws been introduced for it, or until an agreements reached. | itsonlyme2 | |
02/3/2012 15:22 | I think this is a bit of a storm in a teacup really and i think that the sale will definitely go ahead at the price agreed with ptt. I have actually bought back in for another 10 to 20 % profit having banked most of my profit at 195. Here's betting on a positive rns before market closes ! Moz gov will defo want rdsb in the frame, and i am confident they will step up to the plate and pay reasonable cgt. Not my problem, and i think the market thinks the same judging by the share price movement this pm. | funtimejonny | |
02/3/2012 15:11 | steeplejack - The Brits are just as bad. Look what happened to the UK North Sea oilers last year when the tax on them was hiked out of the blue. | liam1om | |
02/3/2012 14:49 | AAA - Up yours buddy. | peteh1 | |
02/3/2012 14:48 | Very few private clients short and even the data for hedge funds show that shorting by those scallywags is invariably overestimated.Anyway | steeplejack | |
02/3/2012 14:43 | Merchant Securities has warned investors of east Africa-focused oil and gas group Cove Energy to watch the developments in Mozambique closely, after the firm confirmed the possibility of a tax charge levied by the government. The tax is in connection with the proposed indirect transfer of the Cove's 8.5% participating interest in Rovuma Offshore Area One pursuant to a possible takeover of the company. Cove put itself up for sale in January and integrated oil and gas colossus Royal Dutch Shell looks like its preferred suitor. "This is very upsetting news with very serious ramifications for explorers across Africa. By the standards of oil & gas tax-grabs, taxes on capital gains are the worst possible type and they are also the rarest," said Merchant analyst Brendan Long. "This is worse than a retroactive modification of the tax parameters because it goes against the principles of tax agreements between oil companies and host governments and leaves companies with effectively no visibility," he said. Long explains that the Ugandan "tax grab" on Heritage Oil was very damaging to the country's reputation and slowed development of Ugandan oil projects. Nevertheless, the broker maintained its buy rating on the stock but warned investors to "watch this very closely". | fraserdean | |
02/3/2012 14:42 | peteh1 - you are a complete prat, debating and airing the pros and cons is what the BBs are all about - I have never shorted any share not that I owe you an explanation! If all you ever got on this BB was rose-tinted comment it wouldn't be worth reading. Edit: I would advise you also review your techniques for spotting friend or foe as you clearly have a lot to learn | aaainvestment |
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