It's a pretty short covering letter, but it's not as bad as many I've seen. I normally expect to see people address each of the qualitites / skills I asked about in the advert, and to make some comment on the company (normally they'll say how wonderful it is in some way, but I really just want them to indicate they know who we are or at least care enough to find out).
Logic, structure, common sense, literacy (often missing in my posts on here), caring about the job and the company and an ability to find out some background information that I didn't give them – get that across. Honesty is nice too, but far harder to judge. The rest of a skill set can generally be learnt provided you have a reasonable grounding in something close and reasonable intelligence.
Nothing worng with saying you have been looking for a position in ******* for some time and you believe you could adapt your current skill set in the following way (make it sound real though).