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...

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 ?.

Independent newspaper.

......-en brevite- The initial windjammer find is worth 42p to COV and the later find increased its value to 47p so dont allow yourself to be suckered out of your shares as many were yesterday. Those who sold at 42p must be kicking them selves. Their stock was simply hoovered up by bigger players in big tranches in and out of auction who exploited this sudden weakness..l imagine trading parameters will be between 47 and 52p until next well is spudded and once again the massive interest will fuel the stocks momentum .. While the collier 1 drilling result can only be construed as unfortunate- somebody on another thread did mention operators were encountering heavy pressure above t/d last week- the operators have made a most prudent decision, considering the sheer cost of their drilling ship, to simply move on to the ironclad and Barquentine prospects. This is a drilling programme and not a one horse wonder .They can always return to Collier at a later date and find another way in the designated basin; and with a little delicate tinkering ect ect l have seen this problem overcome time and time again . And the cause of this presssure ? Could simply be a body of water but more likely to be the lighter gasses seperating from heavier gas or even condensate ... The "hot" money to which P refers was taken from the mkt last week when s/p fell from its high of 62p as news of Colliers probs entered the public domain thearby attracting those with shorting inclinations. Some big buys at well above mkt price suggests Colliers probs were already factored into s/p . ...l am in transit as such at the moment but will repost as soon as possible. But have no fear; the demise of COV is greatly exxagerated

Nice write-up TFC....I have far too many of these (for the size of my portfolio)....but will wait for good results to come.....

TFC - glad you've dropped the cod-frog nonsense! ..... good post as RF commented; and no i did not get bounced out of these

The Independent

"Cove Energy

Our view: Buy

Share price: 49p (-6p)

Cove Energy's shares dropped by 11 per cent yesterday on news that it had ceased drilling at its second "Collier 1" well because of safety concerns. We say: even more reason to buy.

Cash shell Lapp Plats was reborn as Cove Energy last year thanks to former Dana exploration director John Craven and former Shell Algeria chairman Michael Blaha. The plan was to mop up distressed companies' assets, and within months, the newly formed Cove did a deal with Norway's Artumas for interests in Tanzania and Mozambique. It then put together a five-well drilling campaign with operator Anadarko Petroleum for offshore Mozambique, with 40m from an equity placing. In February, Cove went from a good idea to an explorer that stands out from the crowd when its first well, Windjammer, uncovered a significant gas column sending the stock soaring from 23.5p to 43.5p in just four days.

Optimism is still running high. While Collier is suspended, the remaining three wells will go ahead. And if there is time at the end of the programme, Collier will be revisited. Either way, we are sufficiently impressed with Cove's swift progress and early success that Collier is of little concern. For investors interested in explorers, Cove has an unusual combination of cash, assets and promise. Buy it while it's cheap"

THE TIMES

Risky buy at 49p

It was the Sunday Times who said DES was a flop a few weeks back.

And they were correct, so far.