Took a punt on this a few months back....thanks EK...who tipped this and brought it to my attention !.....looks good for Aminex as well...

Still trading within the 48-58p range. Up 11% today, but on no news so I expect that to get nipped back pdq.

looks like there is something going on here again today! ; ) oil, perhaps?

This often goes like that with no news. Then back down.

Rumour about a big oil or gas discovery (see EK)...sp rising ?...in anticipation....

We live in hope!

If this bursts through 60p : could be in for a very sharp rise.

Still rising, making up for my DPL disappointment....

It's all quite small farm-in holdings though, even if a strike:

Tanzania, Mnazi Bay/ Msimbati Gas Fields
Tanzania Producing Asset (16.38 per cent. participating interest)
Tanzania Exploration Asset (20.475 per cent. participating interest)

Mozambique, Rovuma Offshore Area 1/Rovuma Onshore
Mozambique Onshore Asset (10 per cent. participating interest)
Mozambique Offshore Asset (8.5 per cent. participating interest)

Still the same....it could double....

What did EK say ?

200p if it's oil or a good rise if it's only gas......not exactly his words but just about...rumour that they have hit something....and this has come out through intercepted telephone conversations....

Resistance at 60p....hope EK's informants are right....

The text from EK on T1PS.com
"The late Atty Persse of Salisbury plain used to lock up his stable lads after a really telling gallop. There was no way any information was going to get out to the bookmakers. All this, a hundred years ago, was long before the Human Rights legislation entered the statute book.
No such considerations apply to oil rig workers. They are on their mobile phones all day long with telephonic equivalents of NORWICH and, of course, drilling results. Fortunately, many oil rig workers have no idea what they are looking at and, even if they were to, they have a poor understanding of its quantification in stock market terms. Further, the market's fringe operators have a unique capacity to get these messages remarkably muddled. It really makes insider dealing extraordinarily hit and miss.
That said, my soi disant GCHQ contact covering the Indian ocean tells me that the sounds/intercepts for Cove Energy (COV) are very encouraging. If it is oil it is 150p to 200p. If it is merely gas, it is still a big rise. Either way, get hold of Cove below 75p. The formal drill result is soon and, of course, the workers at the bit face must already have some idea of the omens. "

Cove Energy plc is pleased to announce that it has concluded a conditional farm-in agreement with Dynamic Energy Exploration and Production Corporation ("DEPCO") to acquire a 15% participating interest in five contiguous deepwater blocks L5, L7, L11A & B and L12 covering an area of over 30,500 sq kms, offshore Kenya, East Africa. The five Blocks are held in a Joint Venture by Dynamic Global Advisors Kenya Limited, a wholly owned subsidiary of DEPCO with a 30% interest (15% after farmout)and Anadarko Kenya Company, an affiliate of Anadarko Petroleum Corporation, the operator of the blocks with a 70% interest.

Highlights

Extensive contract area - approximately 30,500 sq km (7.5 million acres) over the entire deepwater fairway offshore Kenya, more than three times the size of the Company's Area 1 Offshore Mozambique block.

Diversity of hydrocarbon play types - typical deepwater hydrocarbon plays such as turbidite fan/channels in a number of structural and stratigraphic trapping situations are evident from existing seismic data and are similar to those identified offshore Mozambique.

Evidence of working petroleum systems - adjacent shallow water and onshore wells have oil and gas shows together with active oil seeps on Pemba Island near the southern part of the contract area.

Recent extensive 2 D seismic - over 5000 line kilometres of modern 2 D seismic has been acquired in 2010.

Experienced Operator - Anadarko has considerable offshore Africa deepwater exploration experience and has enjoyed notable success in Ghana (Jubilee) and Mozambique (Windjammer).

Drilling Continuity for Cove - drilling on the Kenya blocks is expected to commence in 2012/13 and is planned to follow the ongoing 2010/11 Mozambique offshore exploration programme ensuring continual drilling activity for Cove in East Africa deepwater basins.

Provides synergy between DEPCO and Cove combining DEPCO's knowledge and strategic data - base in a number of emerging plays offshore Africa with Cove's experienced technical and financial strengths. Both companies will seek to co-operate in future ventures."

Busy company....

Not quite the RNS we were waiting for, but sp already up over the last day or two & hoping for more with imminent drilling result.

One well after another for this little gem......in time this will go past the pound mark regardless of success or not in the present one....will stay put for now...

Up another 2p....goodie....goodie, gum drops....

Trickling up....I get the feeling that it would fly past the pound level in the event of another discovery....nothing sure yet about another find but the sp keeps on rising.......

Good end to the week here as well...sp at it's highest....