Cove Energy puts itself up for sale, shares rocket

Cove Energy, the east Africa focused oil and gas company has put itself up for sale as the management looks to extract maximum value from the successful development of its offshore operation in Mozambique.

Cove Energy, the east Africa focused oil and gas company has put itself up for sale as the management looks to extract maximum value from the successful development of its offshore operation in Mozambique.

The announcement today has seen the stock jump 7% in morning trading after a strong 12 months which have seen Cove climb 18.5%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.