Cove has received all necessary consents and approvals including the consent of the Government of the Republic of Mozambique, as represented by the Minister for Mineral Resources and Empresa Nacional de Hidrocarbonetos E.P. (“ENH”), required pursuant to the farm-in agreement entered into by Cove together with Maurel & Prom (“M&P”) for the acquisition by Cove from Artumas Group of a 10% participating interest in the Exploration and Production Concession Contract (“EPCC”) in the Rovuma Onshore Area, Mozambique.
Cove also holds a conditional 8.5% interest in the contiguous Mozambique Rovuma Offshore Area, where drilling operations have recently commenced. This is subject to approval of the Government of the Republic of Mozambique.
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