PTTEP received over 90% of valid acceptances from Cove shareholders

Mr. Tevin Vongvanich (นายเทวินทร์ วงศ์วานิช), the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP, revealed that on 31 July 2012 at 1.00 p.m. (London time) PTTEP Africa Investment Limited or PTTEP AI, a wholly owned subsidiary of PTTEP has received valid acceptances from Cove Shareholders 91.37% of the existing issued share capital of Cove which is satisfactory to PTTEP AI’s requirement. He said PTTEP would request the London Stock Exchange for the cancellation of trading in Cove Shares on Alternative Investment Market (AIM). Meanwhile, PTTEP will proceed with the Republic of Mozambique's Ministry of Mineral Resources for their written consent to the indirect change of control in Cove. On 23 May 2012, PTTEP announced the terms of a recommended cash offering for Cove share at the price of 240 pence each. Cove has an 8.5% participating interest in the Rovuma Project, which is a world-class gas discovery. “Rovuma” has estimated gas reserve of up to 60 trillion cubic feet (“TCF”). Besides locates in the project is the oil prospect called the Black Pearl Oil Prospect. In addition, Cove also has a 10% stake in the Rovuma Onshore Area in Mozambique, as well as 10-25% interests across seven blocks in Kenya offshore deepwater. The Acquisition would mark PTTEP’s entry into the highly prospective East Africa hydrocarbon region. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION This announcement is for information purposes only and is not intended to be, and does not constitute or form any part of, any offer to sell or subscribe for or any invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise. This announcement does not constitute a prospectus or prospectus equivalent document. The Offer is made solely pursuant to the terms of the Offer Document which contains the full terms and conditions of the Offer, including details of how to accept the Offer. Any decision in respect of, or other response to, the Offer should be made only on the basis of the information contained in the Offer Document. Overseas jurisdictions The laws of relevant jurisdictions may affect the availability of the Offer to persons who are not citizens, residents or nationals of the United Kingdom. Persons who are not resident in the United Kingdom, or who are citizens, residents or nationals of a jurisdiction outside of the United Kingdom, should inform themselves about and observe any applicable legal and regulatory requirements. Any failure to comply with the laws and regulatory requirements of the relevant jurisdiction may constitute a violation of the securities laws of such jurisdiction. Unless otherwise determined by PTTEP AI or required by the Takeover Code and permitted by applicable law and regulation, the Offer is not and will not be made, directly or indirectly, in or into, or by the use of the mails of, or by any means or instrumentality (including, without limitation, by mail, telephonically or electronically by way of internet or otherwise) of interests or foreign commerce of, or by any facilities of a national, state or other securities exchange of any Restricted Jurisdiction, and the Offer may not be accepted by any other such use, means, instrumentality or facility from or within any Restricted Jurisdiction. Accordingly, unless otherwise determined by PTTEP AI or required by the Takeover Code and permitted by applicable law and regulation, copies of this announcement and any other documents related to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction. All persons receiving this announcement (including, without limitation, custodians, nominees and trustees) should observe these restrictions and any applicable legal or regulatory requirements of their jurisdiction and must not mail or otherwise forward, send or distribute this announcement in, into or from any Restricted Jurisdiction. The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and/or regulation and therefore any persons who are subject to the laws and regulations of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. The Offer is for the securities of a corporation organised under the laws of England and is and will be subject to the procedure and disclosure requirements of England. Since this announcement has been prepared in accordance with English law and the Takeover Code, the information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England. Notice to US investors The Offer is being made for securities of a corporation organized under the laws of England, and Cove Shareholders in the United States should be aware that this announcement, the Offer Document and any other documents relating to the Offer have been or will be prepared in accordance with the Takeover Code, the AIM Rules and UK disclosure requirements, format and style, all of which differ from those generally applicable in the United States. The financial statements of PTTEP and Cove and all financial information that is included in this announcement, or that may be included in the formal offer documentation or any other documents relating to the Offer, have been or will be prepared otherwise than in accordance with US GAAP and may not be comparable to the financial statements or other financial information of US companies. The Offer is for the securities of a non-US company which does not have securities registered under Section 12 of the US Securities Exchange Act. The Offer is being made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the US Securities Exchange Act, subject to the exemptions provided by Rule 14d-1 under the US Securities Exchange Act and otherwise in accordance with the requirements of the Takeover Code. Accordingly, the Offer is and will be subject to disclosure and other procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments that are different from those applicable under US domestic tender offer procedures and laws. In the United States, the Offer will be deemed made solely by PTTEP AI and not by any of its financial advisers. In accordance with, and to the extent permitted by, the Takeover Code, normal UK market practice and Rule 14e-5 under the US Securities Exchange Act, PTTEP AI or its nominees, or its brokers (acting as agents) or their respective affiliates may from time to time make certain purchases of, or arrangements to purchase, Cove Shares outside the United States, other than pursuant to the Offer, before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Such purchases, or arrangements to purchase, will comply with all applicable UK rules, including the Takeover Code and the rules of the London Stock Exchange, and Rule 14e-5 under the US Securities Exchange Act to the extent applicable. In addition, in accordance with, and to the extent permitted by, the Takeover Code, normal UK market practice and Rule 14e-5 under the US Securities Exchange Act, UBS and its respective affiliates will continue to act as exempt principal traders in Cove Shares on the London Stock Exchange and engage in certain other purchasing activities consistent with their respective normal and usual practice and applicable law. Any information about such purchases will be disclosed as required in the UK and will be available to all investors (including Cove Shareholders in the United States) from any Regulatory Information Service including the Regulatory News Service on the London Stock Exchange website, www.londonstockexchange.com Each Cove Shareholder in the United States is urged to consult with his independent professional adviser regarding any acceptance of the Offer including, without limitation, to consider the tax consequences associated with such shareholder's acceptance of the Offer. Neither the SEC nor any other United States state securities commission has approved or disapproved the Offer, or passed judgment upon the adequacy or completeness of this announcement or the Offer Document. Any representation to the contrary is a criminal offence. It may be difficult for Cove Shareholders in the United States to enforce their rights and any claim arising out of the US federal securities laws, since PTTEP AI and Cove are incorporated under the laws of countries other than the United States, and some or all of their officers and directors may be residents of countries other than the United States. Cove Shareholders in the United States may not be able to sue a non-US company or its officers or directors in a non-US court for violations of the US securities laws. Further, it may be difficult to compel a non-US company and its affiliates to subject themselves to a US court's judgment or jurisdiction. 1 August 2012 For media inquiry, please contact Corporate Communication and Reputation Management Department Bussaban Cheencharoen Tel. +66 (0) 2537 4607 E-mail: [email protected] Tongchit Pongorapin Tel. +66 (0) 2537 4587 E-mail: [email protected] Vanduan Vijintanasarn Tel. +66 (0) 2537 5418 E-mail: [email protected] -NT-

• ข่าวPTT Exploration and Production
• ข่าวเทวินทร์ วงศ์วานิช
• ข่าวเทวินทร์ วงศ์
• ข่าวPTTEP
• ข่าวo:eco