dolmen stockbrockers speculative buy on pcl

Now Dolmen Stockbrokers of Ireland have a Speculative Buy on PCL.

Previously they were recommending that holders of Cove consider moving profits into PCL, now they have gone one step further and initiated coverage of PCL.

Here's the opening remarks. The link to the full report (PDF file) is at the bottom.

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Pancontinental

Speculative Buy

Making all the right shapes

Previous Close: 20c
Price Target: 30c

Coverage initiation

We are initiating coverage of Pancontinental with a
Speculative Buy rating reflecting its risk level and a price
target of 30c AUD. Despite its run we believe that the ASX
listed explorer continues to offer upside as it approaches
the Q3 drilling of the Mbawa oil prospect In Kenya.
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Here's the link to the full coverage:
http://www.google.com.au/url?sa=t&rct=j&q=mbawa&source=web&cd=7&sqi=2&ved=0CF4QFjAG&url=http%3A%2F%2Fwww.rte.ie%2Fnews%2Fbusiness%2Fmorningrep%2Fdownload%2F2012%2F0326dolmen.pdf&ei=4eBwT8roNKuXmQWUmZGZBg&usg=AFQjCNHuyEO1JT9Vysin2Ps08OVX5t31Gg