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...

Big Oil has decided East Africa is to be its last stand. Every other region has fallen victim to peak oil - and of all the OPEC constituients only S/Arabia can meet quotas- much of which is hi sulphur and hence useless for most purposes ..ln addition the so called swing producers such as the Russias,Norway and Mexico are in rapid decline . As for the continent of Africa. After sinking over 30,000 wells in Arabic North Africa and a further 15,000 in West Africa 'Big Oil' is turning its eye eastwards which happens to have had a mere 500 wells sunk with an astonishing succcess ratio of over 75% ,,EG -Counties like Uganda,Tanzania,Kenya, DRC , CAR Ethiopia,Mozambique & the Sudan ..All the big bellweather players- CNOOC and P/C of China , BP, Total/Elf , Chevron/Texaco , Petrobas, Ex/ Mobil, Shell, plus Europeon darling oil stocks like TLW(UK), M&P,(Fr) , Eni,(ltalia) Statoil (Norway) and R/Dutch are q/ing up in massive droves in a massive prospect buy up grab. l have held an interest in Cov; and have done for over two years. But rather than the 'smash and grab' scenario as is my usual trader/speculator style i intend on playing this through to the endgame.-albeit i did crystalize a little profit to fund a sizeable (750k- shares not !! )) tranche of DPL two weeks or so ago- as i see big money to be had there too..Spudding in June the silverback Gorilla prospect with 100 mmboe of unrisked recoverable reserves Only sold COV due to rapid rise in s/p since start of the current year- and wanted a stake in DPL .....As for DPL ; This is the stock Uncle Tom has been ambigiously tipping recently . How many tiddlers such as DPL priced @ 6.75p have Ex / Mob and Total in talks reg their acreages? Prospects which themselves are in the shadow of one of TLWs recent 1.2 billion prospect buys in the area; and which share a quite similar geology .And even managed to farm out to French midcap Maurel and Prom a highly attractive deepwater lead - retaining 10%. ? As for COV- With the number of leads they have- even if they only deliver on a fraction l see 3 figure s/p within 6 months. ................

grevis - someone is dumping a load of these? someone is also obviously buying a load of these as well. Do we have to such inane posts on here? What do you expect? This share has had an amazing run. The price has more than doubled in less than two months. Of course there are people taking profit. The interesting thing here in my opinion is the resilience. The share takes a haircut and whoosh, out come the buyers again. Looking forward to the Collier announcement! Does anyone have a timeframe on when we can seriously expect to see an RNS about Collier?

Overloaded with these....looks so promising.....another big strike could send it flying again....

Lets hope so rf.

Somebody telling me to get into this in a very very big way in the next few days. 500-1000p valuation hey mitzy?? These being talked about as possible 1.5bill valuation and the next Cairn Energy. About 1100% upside from here or price per share of about 600p which is a little to the conservative estimate of yours if true. Moneyweek really into this one as well. Eyes down.

I am with you on this one kate.

certainly a far better bet than CHAR

lev 2 showing a few sellers @ 56p inc. 100,000 ....but it will no doubt be hoovered up . ....Very resilient stock. ,,,,could prove to be the stock of 2010. Mr.C -You have a position ?

i do now .... thought it worth some modest exposure

good man .......modest exposure you say ? Well better on here rather than on your local golf course ,,,;-) .........lncidentally hoped you dumped those CSR

why? those CSR are only 10p out of the money

if my memory serves me right you were looking to diversify from oilees and miners and happened to mention CSR when about 470 ...l replied could see upside to 510p and then a brick wall ..then retracement back to that level . As it happened they went as far north as 520p then then retreated to sub 440 .l suppose what i am trying to say is that i hope you sold at the 520 level ...............

i bought these ones on 6th April so the timing wasn't great! ...... should have waited a few days and bought at 430

Off thread I know (apologies) but there was quite a lot of Director selling at CSR a couple of weeks ago which is why I took my profit and ran.

(well, more of an amble really)

Depends if you had high heels on or not ?....can look sexy on sheep !...(see pictures of "go navy")....(some time ago now !)....

delete

Well suspended.

Looks like the hot money will get a good shaking down today on this news.

Operations Update
Highlights
Drilling operations ceased at Collier 1 well for safety reasons.
Collier well can be re-entered.
Drilling programme continues with Ironclad prospect, followed immediately by Barquentine, near the Windjammer discovery.

Cove Energy plc ("Cove" or the "Company") has been informed by Anadarko Petroleum Corporation ("Anadarko"), operator of the Rovuma Area 1 offshore block Mozambique ("Area 1 Offshore") (Cove 10% paying interest, 8.5% net), that it has ceased drilling operations on the Collier 1 well, having encountered pore pressure issues at the top of the predicted reservoir

Tipped today.

In what ?, or on or over what ?.