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...

StockMarketWire.com
Shell Exploration and Production has decided not to take part in the Takeover Panel's auction of Cove Energy.

Shell made an offer to acquire Cove in February in order to in order to enter potential liquefied natural gas developments in Mozambique, and other exploration positions in the region.

It says the the Takeover Panel has announced an auction procedure to conclude this potential takeover.

Shell Bidco has decided not to revise its offer of 220 pence in cash for each share of Cove, and not take part in the auction procedure for Cove.

Late RNS today 18.15 hrs


31 July 2012







Cove Energy plc


Result of first Golfinho/Atum gas complex appraisal well



Cove Energy plc ("the Company" or "Cove", AIM:COV), the AIM quoted upstream oil and gas company, notes the statement made by Anadarko Petroleum Corporation ("Anadarko"), the operator of Area 1 Rovuma Offshore Mozambique, in its second quarter 2012 results issued on 30 July 2012, which announces the result of the first appraisal well on the Golfinho/Atum gas complex, with the well encountering 254 net feet of natural gas pay.


The following excerpt is taken directly from the Anadarko 2012 second quarter results announcement released on 30 July 2012:



"Exploration Summary

Anadarko continued an active and successful exploration and appraisal program during the second quarter of 2012. Offshore Mozambique, the company extended its exploration success beyond the Prosperidade complex with the discoveries of Golfinho and Atum, forming the company's second major natural gas complex. The Golfinho/Atum complex is estimated to hold 10 to 30-plus trillion cubic feet of recoverable natural gas resources and is completely contained within the Offshore Area 1 block. Anadarko has begun an accelerated four-well appraisal program at Golfinho/Atum, with the first appraisal well encountering 254 net feet of natural gas pay. Significant progress was also made during the quarter at the company's Prosperidade complex, where the appraisal drilling program was successfully completed, and well testing is ongoing."