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...

http://blogs.chron.com/newswatchenergy/archives/2010/08/anadarko_discov_1.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+houstonchronicle%2Fnewswatchenergy+%28NewsWatch%3A+Energy%29

August 17, 2010
Anadarko discovers oil in Mozambique
Anadarko has found oil in Mozambique, but is currently investigating whether it is a commercial discovery, Reuters reported today.

The daily Noticias newspaper quoted Mineral Resources Minister, Esperanca Bias as saying oil deposits were found in wells with depth of around 5,100 meters.

Researchers were still carrying out evaluations to confirm samples from three other Rovuma Basin wells, Bias said.



Anadarko's minority partner, Cove Energy, said it was waiting for more "detailed analysis" at the prospect and would "update the market shortly," Reuters said. Shares in Cove jumped 14 percent.

btw - bought few minute ago just over 60 - pure gamble!

That I think would have been an earlier statement that has now been superceded by something.

Good luck!

possibly - i am not sure - still searching and watching the sp like a hawk lol!

gibby suggest you get out before they go through 50p!

It was on Bloomberg , not likely to be a commercial find

this reminds me of the day falklands 4 tanked for no reason - then up again as quick as they went down almost - that was a good day!!!

anadarko opened up on nasdaq http://www.nasdaq.com/aspx/dynamic_charting.aspx?selected=APC&symbol=APC

What was that 690k AT trade then ?

remeber also apc much bigger fish than cov....

http://www.economy-news.co.uk/anadarko-17201008.html


Anadarko Petroleum undervalued says UBS
Written by Will Peters
Tuesday, 17 August 2010 14:38
Anadarko Petroleum also announces new oil find in Mozambique.

--------------------------------------------------------------------------------


Anadarko Petroleum Corp (NYSE:APC) shares are higher by 2% at 52.98 in morning trade on news that the company has discovered oil in Mozambique.

The equity analyst team at UBS also believes that regardless of the new find Anadarko shares are undervalued.

UBS have set a new target share price of 66 on Anadarko - that is 27.07% higher than at this morning's opening price of 51.94.

The Mozambique oil find will need further tests before the commercial viability of the find can be ascertained.

Shares in Cove Energy, Anadarko's minority partner on the exploration block off the coast of Mozambique, jumped 14 percent.

London-based Cove said in a statement responding to the reports that it was waiting for more detailed analysis at the Ironclad prospect, in which it has a 8.5 percent stake, and would update the market shortly.


Icahn increases exposure to Anadarko

Billionaire Carl Icahn disclosed that his hedge-fund group raised its stake in Chesapeake Energy Corp to about 2 percent of shares outstanding and added new holdings in two other energy companies.

Icahn Capital LP increased its holding to 12.7 million Chesapeake Energy shares as of June 30 from 2.12 million as of March 31, according to a Form 13F filed today with the US Securities and Exchange Commission.

The funds also acquired 2 million shares of Anadarko Petroleum Corp. and 240,000 American depositary receipts of Ensco Plc during the second quarter, according to todays filing.

The market value of the billionaires energy holdings rose to about $348 million as of June 30 from about $52 million as of March 31, filings show.

Icahn Enterprises LP, the holding company for Icahns investment-advisory business, reported earlier this month that the market value of the fund energy equity securities rose to about $923 million from $77 million at the close of the first quarter.

roll on tomorrow - gla

+8.5 when i left london this morning and -8.5 at close ..... suckers suckered?

Its said, reports from Andarko that its low porosity and low permeability, hence likely not commercial.

Only one of many to be drilled ..... don't panic .

followers of HAWK, EME and others chant the same mantra!

But this isn't them , its Cove different location with many more drill's

so has my dentist ..... enough silliness; well past my bedtime her

Her ? tell us more ..... we won't tell the wife

Was it really 74p this morning ?

The company tried to hide the fact that the well was a dud and amazingly, the sp opened up around 67p which would have made a very quick profit for Gibby. I hope he sold cause as you can see, it has come down to earth quickly. 68/69 was the tops but like you, it shows up as 74p.

Hopefully, nobody paid that!!

There are 2 ways of dealing with this...buy and sell quickly or keep for the long term.....I'm in for the latter...