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...

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.

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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...

dealerdear - thanks mate - i had a pleasant surprise this morning - off loaded cov real quick at near high - good day - ggg didnt do too badly either but i am in long there now so dont really mind what it does as very confident there - see a broker target 18p - that not enough imo for ggg! ggg has cash funds to fast track latest find towards end 2010 - cov was a pure gamble - bit of a fluke & i hope nobody paid 74p also for cov!! gl and have a good evening

required field agreed - i think long is good here too (for cov) - but i have much invested elsewhere so needed a quick win - gl

cynic i always smile reading your posts - make me laff - keep it up - cheers

RF - there's a 3rd way, the true way to eternal life ..... avoid the damn thing!

Well done gibby. You deserved that for taking the risk.

cheers dealerdear - good luck with your deals also

had a shock today - i have quite a bit of sam for an age now - almost forgotten about 'em - actually blue today! lol

Hoping for 70p again soon.

Going well, but reaching the 70p resistance level again & with no news, suspect this may fail to breach it.

Needs some news of some kind......positive would help....

agreed HC -70p is proving something of a brickwall type resistance as such at the moment .But i strongly believe it could be breached quite easily and without more news !; Likewise l strongly also believe had the prerequisite oil infrastructure existed in East Africa on a parity with that of the west of that crazy continent the ironclad well would have proven commercial ...110 feet payload is not an amount to be sneezed at .....and i equally believe we shall witness a number of wells being sunk within its vicinity in the not so distant future . .<>......Barquentine next ......Albeit yet another wildcattter it nevertheless shares the same permissive geology as windjammer suggesting gas will be more likely to be found than oil ...But who can say >? . Have a good feeling reg. COV as do Pan /Gordon who in a house brokers note stated Windjammer was HUGE and could easily have 10 tcf as 7tcf as has been verified, FURTHERMORE it claims lronclad had perhaps as much as 3TCF and 230 mmboe en situ but in such poor porousity/permeability basins and in isolation was thus not commercially viable-but needless to say the well was plugged with re-entry an absolute priority ...PG furthur claimed Collier was a 3TCF find but had proven far too dangerous to continue drilling without further analysis / but in planning its business model operators had identified yet even more lucrative leads .................................... 3 drills / 3 strikes ....cant ask for better in this game Harry ....75p -EASY !!!!!!!.....Barquentine looks very promising abd when the BD spuds it the s/p will rise a tad .......