Cove Executives Said to Start New Oil Explorer Focused on Africa

Former executives from Cove Energy Plc are starting a new oil and gas exploration firm focused on Africa after selling the London-based company for $1.9 billion to Thailand’s PTT Exploration and Production Pcl earlier this year, people familiar with the group’s plans said.

Ex-Cove executives including Chairman Michael Blaha, Chief Executive Officer John Craven, and Finance Director Michael Nolan may be involved with the new firm, to be called Discover, the people said, asking not to be identified ahead of an official announcement. Discover has secured some private financing and may pursue an eventual initial public offering in London, the people said.