COV Cove Energy

TIDMCOV

RNS Number : 9846I

Cove Energy PLC

31 July 2012

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."

Ends

   Cove Energy plc                                           Tel: +44 (0)20 7831 3113 

John Craven, CEO

c/o Billy Clegg

Cenkos Securities

   Jon Fitzpatrick                                                Tel: +44 (0)20 7397 8900 
   Ken Fleming                                                   Tel: +44 (0)131 220 9772 
   FTI Consulting                                              Tel: +44 (0)20 7831 3113 

Billy Clegg / Edward Westropp

Notes to Editors:

Cove has established a strong position in East Africa with exploration interests in Area 1 Offshore Mozambique, which contains the Prosperidade gas complex (Windjammer, Barquentine, Lagosta, and Camarao), the Golfinho/Atum gas complex and Tubarao gas and Ironclad oil discoveries where drilling, appraisal and well testing operations are planned to continue through 2012.

Cove also holds exploration interests in Mozambique Onshore and Kenya Offshore.

Cove Energy has a strong management team with a wealth of experience in the oil and gas business and the operation and management of companies in the public arena. Michael Blaha, Executive Chairman and formerly Country Chairman for Royal Dutch Shell Group in Algeria, is a Petroleum Engineer with thirty two years industry experience, most of his career spent working at Shell. John Craven, Chief Executive Officer was previously CEO and founder of Petroceltic International plc, and is a petroleum geologist with thirty eight years experience in senior technical and executive positions in major and junior oil and gas companies.

www.cove-energy.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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