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...

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.

but only so far Harry .Some quaters of the city have great expectations reg DES . Cant say i concur as yet - but methinks theres a trick in the tail there somewhere. ...REG: Trading in COV .....-Over 1.5 million shares bought in tranches of 200,000+ today a full 3p to 5p over offer price prevailing at the time . ,,,,,,,Somebody feels confident ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,O/T Apologies et al / Roly -.Did you not get my recent mail ?

No Jamie , try my moneyam email address , and i can send you my other address.

righty o - will do ............Are you holding COV yourself Roly ..? lf Funds allow l would give them the usual Aldwickk mulling and dip a toe -think about it anyway. Also have a peep at tiddler DPL ( one of uncle toms reckies ) . As for COV -Most of the mainstream brokers to whom i speak every day its not even on their respective radars despite BR s massive stake and the wildcat extraordinaire W/J discovery . l used to find that odd until i realised how many of them were certainly not there on merit / Mr.C ..NOW while you may play golf i dont think for a second you were duped into parting with yr holding. ........cynical-indeedy ...but mad - no

yes, i hold COV and DPL. i sold COV when they ceased drilling at its second "Collier 1" then changed my mind and bought back in again.

COV looking at 38p soon and if this breaks 24p on the cards. Very speculative.

can rats swim?

Halifax, you sound like one of those cold war spy's.

He's the Piped Piper.

Nice little rise this morning

Where did this clown "hlye" come from? sunshine, get a life. This company has been transformed in the last couple of weeks. Just for your info - a very interesting note has been issued today with a buy recommendation - target price??? Guess what??? yeah, you got it - 100p!!! good luck all holders!

sorry - forgot to include the source of the buy recommendation - Panmure Gordon.

oh no not a brokers buy note time to sell!

LOL! ; )

Pan Gor broker note:
"Cove is an oil and gas play with interests in Tanzania and Mozambique. It is a virtual company in terms of the very limited number of personnel employed full-time within the business. The philosophy of management, fronted by John Craven ex CEO of Petroceltic, is one of seeking low capex-high value projects. Cove will support projects in exploration, appraisal, and as they move into development, but will sell their interests on to others before production. Young basins are sought, in terms of evidence of a working petroleum system, whilst there is also a preference for emerging basins, given their better terms and better prospects. Strong seismic is required to de-risk projects whilst joint ventures will be sought with good operators and, with regard to the latter, Cove has done very well to partner with the Texas-based Anadarko (c. $35bn market cap). The US giant is running the drill programme, but Cove has an 8.5% interest in its exciting off-shore Mozambique prospects, and this has prompted our involvement in the story, initially via a placing at 40p announced on the 11th March.
Then on the 20th April, Cove announced that the second well in the off-shore Mozambique drilling programme, Collier 1, had been suspended "for safety reasons" due to high pore pressures in the well. The partners in the drilling programme opted to move the Belford Dolphin drillship to drill other prospects (Ironclad and Barquentine) whilst they work out how to handle the pressure. The market has reacted poorly to this, undeservedly in our opinion, since it likely just reflects inadequate equipment on board the rig to deal with the issue and Collier will be revisited at a later date. In the meantime focus will next move to the Ironclad (oil) prospect some 30kms south-west of Collier."

Perhaps it is the broker note which has suddenly moved the sp up 30%