From Earlier: RDS Proposed Offer for Cove Energy

Proposed cash offer by Shell Exploration and Production B.V, a wholly-owned subsidiary of Royal Dutch Shell plc

for Cove Energy plc: Proposed Offer of 195 pence in cash for each Cove share. - The Proposed Offer values the entire issued and to be issued share capital of Cove at approximately £992.4 million and would represent a premium of: - 73.3 per cent. to the closing price of 112.5 pence per Cove share as of 4 January 2012, the last business day prior to Cove's announcement of the sale process for the company; and - 28.5 per cent. to the average closing price of 151.75 pence per Cove share over the five business days ending on 21 February 2012, the last business day prior to the date of this announcement.