i think the best possible way would be to use Find
function along with mid, and replace if necessary.

Please venture out with find funciton and mid.

example

Say i have the following text  in A1
afasdgp;oap location: anand1 werfasdf

I want to Extract anand1 alone, i use the following
formula,
=LEFT(TRIM(MID(A1,FIND("location:",A1,1)+9,LEN(A1))),FIND("
",TRIM(MID(A1,FIND("location:",A1,1)+9,LEN(A1))),1))