Been looking at this one ever since results were published back on the 7th april. Its both an Oil Explorer and Developer and just throws off cash and makes a profit. I wouldnt initialy go into it because the shares were very tightly held especially by the US Oil Company Harken Energy I think they had around 85% of the share equity and the stock was not very liquid, but thats changing as Harken sells off shares into the market especially to the Large Institutions. In fact its just sold another tranch off today.

It really as a lot going for it and since the results as been tipped by two Brokers Teather and Greenwood and Equity Development) as strong Buys but the good thing is that the price as not yet really moved, the city have not caught onto this one yet and this is an ideal opportunity to get on board. Its also won new contracts and its NAV estimated short term to be 367p, long term 729p is up against a share price of only 161p. The P/E for the company for 2005 is only 6 and for 2006 a mere P/E of 4, compare that to some of the Blue Skers around and it is amazingly cheap. The institution Fidelity have also taken a big stake in the last couple of days and those boys know what they are doing.

Last Results to 31st December 2004.


Financial Highlights



Revenues up 28% to $10,974,000 (2003: $8,556,000)



Gross Profit up 65% to $5,349,000 (2003: $3,239,000)



Profit before tax up 292% to $3,127,000 (2003: $797,000)



No debt as at 31 December 2004



Finding cost of approximately $5 per barrel in the three years ending 31
December 2004



107% increase in Capital Expenditure budget for 2005 (2004: $8,700,000)

- fully funded from cash available and cashflow from production


Operational Highlights



2 exclusive contracts signed in Colombia in 2004 and another exclusive
contract in Peru added post the year end



Portfolio now much enlarged and prospect rich - trend towards exploration
against backdrop of established production

- 6 contracts and 1 pending contract covering approximately 3 million
acres in Colombia, Peru and Panama

- 100% ownership of all contracts



Production widened to 10 wells from 4 contracts as at 31 December 2004

- Record daily production of 2230 bopd from 11 wells as at 3 April 2005



Multiple exploration prospects within enlarged portfolio in all 3
countries already independently reported on

- First exploration expenditure since flotation on properties held under
contract to occur in 2005



Anticipate signing at least 2 additional exclusive contracts or Technical
Evaluation Agreements during the remainder of 2005

Director Speak.

Commenting of the results for 2004 and progress post the year end, Stephen Voss,
Managing Director, said:



'We are very optimistic about Global's position within the oil industry. We
identified many years ago three pre-eminent countries in which to operate -
Colombia, Peru and Panama - that have continually offered improved industry
terms and economic and political stability. All three continue to have few
independents operating in them and as a consequence Global continues to maintain
its first mover advantage and the opportunity to acquire additional attractive
acreage.



We have significantly enlarged our portfolio since our flotation three years ago
and now have a much diversified portfolio offering multiple prospect
opportunities in addition to established production. This production throughout
2004 against historically high oil prices resulted in record financial results
for the year.



Our production and strong-pipeline of near-term production allows the Company to
continue to build on a solid financial base whilst beginning to pursue the
considerable exploration prospects under contract and pending contract which the
management believe are capable of significantly enlarging and transforming the
Company going forward.'


Forward Outlook

We are very optimistic about Global's position within the oil industry. We
identified many years ago three pre-eminent countries in which to operate -
Colombia, Peru and Panama - that have continually offered improved industry
terms and economic and political stability. All three continue to have few
independents operating in them and as a consequence Global continues to maintain
its first mover advantage and the opportunity to acquire additional attractive
acreage.



We have significantly enlarged our portfolio since our flotation three years ago
and now have a much diversified portfolio offering multiple prospect
opportunities in addition to established production. This production throughout
2004 against historically high oil prices resulted in record financial results
for the year.



Our production and strong-pipeline of near-term production allows the Company to
continue to build on a solid financial base whilst beginning to pursue the
considerable exploration prospects under contract and pending contract which the
management believe are capable of significantly enlarging and transforming the
Company going forward.ENDS.

Conclusion.

Way undervalued in my eyes and a lot of others in the industry aswell. The future is very exciting. Remember its not a Petrel or a White Nile so dont expect fireworks. Its got an high beta and the shares are still relatively tightly held. Further news flow will move the share price this year and beyond. You will have to be patient with this one but I beleive it to be an exceptional investment.

DYOR.

cheers GF.

TA looks rather strong.....................

On a smaller scale looks to be in an upward trend chanel. RSI looks very positive.



cheers GF.

From Eqity Development.

Global Energy Development; Here comes the growth; production and cash flow to rise.
Apr 22, 2005
No surprises in results
Further positive newsflow expected
Core NAV (proven and probable) now 376p/share
Further risked upsides of 353p / share means full valuation of 729p / share
Increase due to oil price forecast, royalty changes and further data on the first well in Block 95, Peru, ENDS.

You can see the full Broker note here at this link and beleive me its well worth having a read. Just click on view document and you should get the full report, if you dont just sign up free it only takes a minute.



http://www.equity-development.co.uk/client/view.php?docid=182&newsletterid=

cheers GF.

hmmm damn cant buy it online!!! lol Was just gonna dive in... guess will wait for Monday!

Did a quick lookup on it and it sounds very tempting!

I read in a recent post of yours that you where off to "digital-look" stock screener to search for some stocks, is this what you came up?

Ive liquidated come of my funds recently in a couple of blue skyers like PIX (down 10% today thank f**K) so il definately check this one out, I need to get a bit of stability back in my portfolio

cheers for the info

Well worth having a look over the road aswell where energyi probably the most informed poster on mining there is, is a big fan and tips it, not the usual rubbish that you get on that site for a change.

cheers GF.

Hi Blackbelt ,

yes it was in there with the criteria that I set although I wasnt specificaly looking for this one. I have a couple of others from my sifts that I am still working on. Forgot to mention the market cap is only 45million.

cheers GF.

KEY CHANGES TO VALUATION

We have made a number of key changes to our cashflow models and valuation
reflecting changed assumptions of both reserves and the pace of development
and exploration.

Ecopetrol Back-in. We now assume, for simplicitys sake and for DCF valuation
only, that Ecopetrol will back in to the Alcaravan and Bolivar licences
effective 1/1/2007 thereby reducing GEDs interest to 50% in each case. In
reality the process would be likely to take place on a well by well basis as has
already been seen on Cajaro-1. We also assume that no cash changes hands. We
believe that the Torcaz and Canacabare licenses will be respectively too
marginal and too small for Ecopetrol to back into. Los Hatos and Rio Verde are
not subject to Ecopetrol back-in and will remain 100% GED. Should the back-in
occur a year earlier (i.e. 1/1/2006) this would drop core value by 36p/share.
Palo Blanco. The imminent workover of Estero-3 and the drilling of Los Hatos-1
could rapidly augment production in the area. Estero-5 encountered thinner
sands than expected in the Ubaque, but production is rising steadily from the well
providing evidence for substantial reserves upsides from the field as the strong
water drive sweeps oil through the reservoir. We assume that four more
development wells will be drilled on the field with Estero-6 being completed by the
end of 2005, and Estero-7, 8 and 9 in the second half of 2006. We carry a higher
reserves number than Ryder Scott reflecting our positive stance towards the field.

Bolivar GED hopes to install the long awaited gas injection equipment on the
Catalina field in June 2005. This involves converting the watered out Catalina-1
well into an injection well and completing the existing Buturama-2 well as a
producer. We understand that the use of gas injection and multilateral wells on
Catalina is viewed as improved oil recovery by ANH and that the effective royalty
may drop from its current 20% this year. We have assumed it falls to 8% and this
provides a substantial boost to NPV (30p/share). GED expects to see measurable
improvements in recovery within 6 months. After the Llanos basin drilling has
completed GED hopes to commence drilling the first of 3 horizontal multilateral
development wells on the Catalina field over the next year. We assume a further
8 producing wells and two water injectors would be drilled into the Catalina
structure in subsequent years. We have upgraded our reserves estimate for the
field (on a 100% basis) to 12.8mmbbls from 9.0mmbbls reflecting some of the
increased recovery likely with the multilateral well programme. There is scope for
substantial further upgrades to the reserves on Catalina. Longer term there is
further appraisal/development upside on the existing Reposo and Trigos
structures that have been logged as oil discoveries.

Rio Verde The successful completion of Tilodiran-1 and Macarenas-1 in the last
6 months has confirmed commercial production from both fields. GED hopes to
optimise pump design on both wells perhaps doubling production from each well.
GED plans to shoot development seismic over the fields in the next few months in
order to better locate subsequent development wells. We expect Tilodiran-2 to be
drilled later this year and Macarenas-2 at the end of 2006. We have upgraded our
reserves estimates to 4.4mmbbls from 3.2 mmbbls following the positive results
of both re-completions.
Back-in factored in
4 more wells envisaged
Gas injection
Royalty rate expected to
fall significantly lifting
value
Optimising pump selection
key to short term
production

Torcaz GED plans to test a huff and puff CO2 miscible flood injection scheme
on the Torcaz field in 2005 (together with possible fraccing) and has abandoned
plans for in-situ combustion to enhance recovery. GED will truck pressurised CO2
from Ecopetrols refinery 75km from the field and inject it into the field via the
producing well for a certain period. The CO2 dissolves in the crude oil reducing its
viscosity and density and hopefully enhancing production and recovery. We will
watch the results of this test with interest but have continued to assume a
conventional development in our valuation

Los Hatos We have added a valuation for a second full exploration well in the
Los Hatos contract which we expect to spud at the end of 2006.
Bolivar exploration We have included a separate, very conservative valuation
for the exploration prospects in the Bolivar concession which we believe could
start to be targeted in 2008. This is separate from our valuation for the appraisal
of existing discoveries on the contract.

Bretaňa We have decided to delay development for a year based on GEDs
conservative view of timescales. The twinning and testing of Bretaňa-1 now looks
likely to have slipped into Q2 2006 and may be delayed further by the rainy
season. Again rig availability is the main constraint.
Peru exploration GED has stated it intends to drill an exploration well in Block
95 in 2008. We believe it is more likely that such a well would be drilled back to
back with twinning of Bretaňa-1 in early 2007. We have also substantially
upgraded our risked valuation for this well where the structure is now mapped as
almost 200mmbbls unrisked. There remains a further 800mmbbls of unrisked
leads on the licence which we continue to place no value on. We would hope to
assign some value to this after the expected electromagnetic and seismic surveys
have been completed.

Panama Despite the delay in the award of the Panama licence we maintain our
existing option valuation. Once awarded GED hopes to shoot both 2-D and 3-D
seismic over the acreage in the next 18 months in order to refine drilling targets
for 2006/7. We will review prospectivity in greater detail post the licence award
expected in Q2/Q3.

Tax Shelter We expect GEDs Colombian operations to continue to benefit from
a tax shelter which we include in our valuation. We believe that the remaining
losses carried forward will expire in 2006 after which we expect GED to become a
full Colombian corporate tax payer. Before 2007 the small tax payment expected
is a Colombian presumptive income tax only.

cheers GF.

How politically stable are the countries they are in ie Colombia, Peru and Panama. Any marauding bandits likely to put a spanner in the works. Excellent web site and very up front with info. They have a lady to look after investors and seem to have a caring attitude which makes a change. Still number crunching, but looks good so far.

Web site. www.globalenergyplc.com

MS

Yea, looks good fundamentally and Fidelity dipping in really inspires confidence. I wouldnt go looking for a small oil stock at the mo cos ive read a lot of stuff urging caution, but this one does look like a winner at first glance. Ill be back when ive done my homework on it.

This needs to be resolved and could be a problem. It's worth taking a good look at the parent company Harken, who's tack record is a bit chequered and not the flavor of the month stateside. They still hold 70%.

The Vampire - 28 Apr'05 - 12:30 - 420 of 423


I cannot trade with Comdirect or Halifax, as the stock is not crest.
Seems this will prove as a barrier to many private investors.
The company needs to resolve this situation.

The above from the other place.

MS

Can buy with Hoodless Brennan.
wilbs

I suspect you can now buy with anyone who as the right to sell. If they cannot buy them for you tell them you are going elsewhere. I bought a thosand Quids worth today through the small share centre, and there were no problems.

Tommorow I hope buy at least 20 thousand worth (market being reasonable) and it might be via 2 brokers but who cares when the end result is a positive.

I ask and urge you to read the Broker report from Eqity Development above.


cheers GF.

From Oil Barrel...................................




11.04.2005
GED Posts Strong Results And Eyes Exploration Debut In Colombia
Global Energy Development, which trades on Londons Alternative Investment Market, has posted record financial results, with revenues up 28 per cent at almost US$11 million and net income up 148 per cent at US$2.6 million. The company, which focuses its efforts on Colombia, Peru and Panama, is currently pumping 2,230 barrels per day from its properties and has a proved and probable reserve base equivalent to 16.5 million barrels of oil.

Global is taking a cautious approach to growing its portfolio. It focuses on countries with generous fiscal terms - Colombia and Peru offer some of the most attractive terms in the industry - and prefers to sign up for low-cost entry positions (known as technical evaluation agreements) that allow it to scout out a blocks potential before committing to expensive seismic and drilling work. The company steers clear of blue-sky exploration and favours projects that can be quickly monetized through low cost drilling, workovers and tie-ins. Even so, the exploration spend is expected to ramp up in the coming years until it equals the development budget. This will be funded from cash flows from rising production streams.

This year should see the companys first spend on exploration outside of a technical evaluation agreement with some US$1million of the 2005 US$18 million capex budget earmarked for exploration. This cash will be spent on reprocessing and revaluation of existing data on its properties in Panama and Colombia plus the acquisition of new micro-magnetic geophysical data in Peru.

Globals production stream comes from its assets in Colombia, where it plans to drill or workover at least four or five wells over the next 18 to 20 months. It has already had some early success in this programme. In March, for example, the company worked over the Canacabare-1 well in the Anteojos field, which neighbours - and is connected to - the companys existing Palo Blanco field. Both fields lie in the Alcaravan Contract Area. The workover has increased production from the well from around 100 bpd to 198 bpd. It is now looking for offset well locations for further developing drilling on the field.

Global bulked up its holdings in Colombia over the course of last year. In September, it signed a new Exploration and Production Concession contract with ANH for the Rio Verde area, covering 75,000 acres in the central Llanos region. Two existing wells in the contract area, Tilodiran-1 and Macarenas-1, were recompleted and brought on production over the turn of the year. A development well, Tilodiran-2, is planned for the end of 2005 or early 2006 plus seismic work over the remaining acreage.

In November, the company signed up for the Los Hatos Exploration and Production Concession contract, which lies to the south of the companys producing Palo Blanco oilfield. An exploration well, Los Hatos-1, is planned for the fourth quarter and the company is optimistic that the well will mirror the success of the nearby Cajaro-1 producer, which is part of the Palo Blanco development.

Global is also active in Peru, where it holds rights to Block 95 in the Maranon Basin in the northeast of the country. This block includes the Bretana field, which was discovered in 1974 with the successful test of the Bretana-1 well, which flowed 800 barrels per day of 18-degree API gravity oil. Global hopes to drill its first well on this structure in late 2006 or early 2007. An exploration well on the block is slated for late 2008.

In Panama, Global hopes to finalise a contract later this year to explore three on and offshore blocks, including the Garachine Block Area which lies within 100 miles of the strategic Panama Canal. This is a historic oil area, with several shallow onshore wells finding good oil shows in the Mid Miocene back in the 1920s. More recent offshore seismic exploration in the eastern Gulf substantiated this potential.

This year the company expects to sign up at least two more contract areas or technical evaluation agreements. Its adding up to a nice little business in an industry-friendly region yet the stock often flies below the radar of many investors. Spun out of US oil outfit Harken Energy, liquidity is a problem as the Texan firm still holds around 85 per cent of the stock. Addressing this issue could pave the way for making this growing company more attractive to would-be investors.

cheers GF. PS remember Harken are selling into the market and we got in first. Things look good for a bright future.

And liquidity is getting better by the week, check out the list of RNS posts.

cheers GF.

Added this morning but it seems some of the banks dont deal in this one. Couldnt get them with the HSBC strange.

cheers GF.

I bought 884 first thing through Hoodless but had to phone through for a quote.
wilbs

This one's not for me GF. I don't like the tight grip Harken has with a 70% holding. They only employ 9 people so it must be the secretary who does the drilling. Good luck with it, hope you make a bundle.

MS

LOL Mickey, I bet she gets a bit of drilling aswell.

cheers GF. PS, well it must be a good share its the only one I can find that hasnt fallen this morning LOL.

That put a smile on my face GF nice one.

MS

LOL. Thats what you need when the markets are like this, a good laugh.

Ended up positive today, it didnt fall like all others.

cheers GF.

Punters buying in, but doesnt show on individual trades. Was the same Friday.

cheers GF.

GF. Is the more or less flat SP chart over last year due to Harken's huge stake restricting fluidity? If so what are the future prospects for them further releasing their equity? Cheers.

Word is that they are prepared to release more into the market. Its a situation we will have to watch. Two brokers both with Strong Buys points to this one being a good un as long as investors can get the stock.

cheers GF.

hi gf, good to see you looking at this one
I stared buying small in oct at 169p
built up gradually on dips to 7200 standing ave
155p per share so not much of a gain yet.
The stats and forcasts look very good indeed
so much so i tried to buy another 3000 shares about
3 weeks ago only to be horrified my broker could not
get them without paying a kings randsom,
but even more concerning he warned me i could have
a problem shifting my existing holding especially if
trying to shift in one trade.
note your comments of more stock becoming available
in the market if the stock becomes more liquid the
sp should rise conciderably.

regards HUSTLER

Well Im keeping my fingers crossed Hustler, glad to see you in this one.

cheers GF.

Global Energy Development PLC
12 May 2005


Immediate Release 12 May 2005


GLOBAL ENERGY DEVELOPMENT PLC

ACCELERATION OF EXPLORATION PROGRAMME WITHIN PERUVIAN CONTRACT

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce that it has accelerated certain work obligations required
under its Licence contract for the Exploration and Exploitation of Hydrocarbons
in the Block 95 Area (the 'Contract') located in the Maranon Basin of
Northeastern Peru.

Under the terms of the Contract, which became effective last month, Global is
required to acquire approximately 4800 square kilometres of micro-magnetic
geophysical data in and around the identified Bretana field located in Block 95
and elsewhere throughout Block 95 during Phase 2 which commences 12 months from
the effective date, namely April 2006.

Global has already executed a contract with Fugro Airborne Surveys, a leading
provider of airborne geophysical services, to undertake an aeromagnetic survey
on the Contract area with activities expected to commence within the next couple
of months.

Airborne geophysics has been utilized in petroleum exploration for many years
with aeromagnetic surveys being the most widely used component. Aeromagnetic
surveys provide a fast, low-cost method of structurally mapping large areas.
Magnetometers towed by either an airplane or helicopter measure the intensity of
the Earth's magnetic field over a selected area. Differences between actual
measurements and theoretical values indicate anomalies in the magnetic field
which represents changes in rock type or thickness. Entire basins can be
characterized and mapped with recent advances in computer technology meaning
even subtle geological effects can now be detected. Aeromagnetic surveys can be
used to supplement more sparsely distributed seismic data and provide further
guidance on where exploration efforts should be focused to achieve optimum
results.

In addition to commencing Phase 2 early, Global anticipates acquiring above the
4800 square kilometres of micro-magnetic geophysical data specified by the
Contract.

Global owns a 100% working interest in the Contract, which assigns Global
exclusive exploration and production rights to approximately 1,275,000 acres,
subject only to an initial 5% royalty. The size of the royalty is to be
determined by future production levels. The Contract duration is approximately
7 years for the initial exploration phases and 23 years for the exploitation
phase.

Global currently anticipates drilling its first well under this Contract in the
identified Bretana field in late 2006 or early 2007 and follow this with an
exploratory well elsewhere in the Contract area in late 2008.

Commenting on acceleration of work under the Peruvian Contract, Stephen Voss,
Managing Director of Global said:

'Micro-magnetic geophysical data and the map products produced are an essential
component of any exploration programme that must evaluate a large number of
prospective geologic opportunities. Block 95 offers a number of opportunities
which we have identified over the last three years and this early acquisition of
data will enable us to tightly tailor our future seismic acquisition programme
to focus on the highest graded potential prospects thereby increasing the
changes of a successful drilling programme. Through currently accelerating our
work obligations beyond that which is required under the Contract we hope to
advance quickly to the drilling of our first well in Block 95.

wilbs

positive news out today and
stock becoming more liquid
sp should now respond

regards HUSTLER

Yes excelent news. Patience is the key with this one.

cheers GF.

Interesting - I topped up again on this early this morning and my trade has still not shown up.

Baza

Same happened with me Baza on a couple of occasions. Somone mentions why earler in the thread.

cheers GF.

Cheers GF

Gone up nicely today Baza, remember these quite ones are the one to be on when the big, big, news comes out.

Just patience Baza itl come for us.

cheers GF.

This one is worth waiting for, the
Aim market is still being battered.
In say a years time this one will
without doubt be a lot higher when
sense returns.
regards HUSTLER

Yes agreed Hustler. Patience is the key.

cheers GF.

Global Energy Development PLC
19 May 2005






Immediate Release 19 May 2005

GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY


Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), has been
notified that following an increase in the Company's issued share capital, as
announced on 29 April 2005, Fidelity International Limited's ('FIL') and its
direct and indirect subsidiaries', being non-beneficial holders, interest in
2,812,716 Ordinary Shares in the capital of the Company, now represents 9.99% of
the Company's issued share capital.




For further information:



Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7808 5550

www.globalenergyplc.com

wilbs

Yes an excelent endorsement of the company from probably the best fund in the World.

cheers GF.

And another RNS, we certainly arent short of newsflow on this one.........

Global Energy Development PLC
23 May 2005



Immediate Release 23 May 2005

GLOBAL ENERGY DEVELOPMENT PLC

ACQUISITION OF NEW SEISMIC

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce that it has entered into a contract and work has commenced
to acquire approximately 56 kilometres of new 2D seismic within its Rio Verde
Exploration and Production Contract (the 'Contract').

The seismic is being acquired around the two existing, producing wells located
on the Rio Verde acreage, Tilodiran 1 and Macarenas 1, in order to evaluate and
proceed with the drilling of an additional well within the Contract area in the
short-term and further wells in the longer-term. In addition, a proportion of
the seismic is also being acquired elsewhere in the Contract area to consider
future exploratory wells.

The new seismic will be processed alongside the reprocessing of 300 kilometres
of existing seismic as required under the terms of the Contract.

Commenting on the acquisition of new seismic within the Rio Verde Contract area,
Stephen Voss, Managing Director of Global, said:

'The Company is pleased with the progress made already in the Rio Verde
Contract. Tilodiran 1 and Macarenas 1 were rapidly brought on to production
following the Contract signing in September last year and have had good ongoing
performance. Cumulative production to date from Tilodiran 1 and Macarenas 1,
which commenced production in December 2004 and January 2005 respectively, is
approximately 48,000 barrels. The new seismic data will enable Global to
select optimum locations for further drilling in Rio Verde and the Company hopes
to be able to commence the drilling of a new well, Tilodiran 2, before the end
of 2005. With the addition of future new wells, Rio Verde is expected to
contribute strongly to Global's established production and provide further
cashflow to fund ongoing work within several of the Company's contract areas.'





For further information:


Global Energy Development PLC +44 (0) 20 7808 5550
Catherine Miles, director of investor relations +44 (0)7909918034

www.globalenergyplc.com

cheers GF.

A cracking piece of news and a cracking rise..................

Global Energy Dev signs Colombia deal; sees testing beginning late 2006
AFX


LONDON (AFX) - Global Energy Development PLC has signed a new exclusive Technical Evaluation Agreement with the National Hydrocarbons Agency of Colombia for the evaluation of potential hydrocarbon resources in the Valle Lunar area located in the established Llanos Basin of eastern Colombia.

Stephen Voss, Managing Director of Global Energy Development, said: 'The company believes it is an area of significant medium heavy oil reserves which is of a less expensive and technically straightforward class to extract, as substantiated by data already available... (We anticipate) signing a concession contract and proceeding with shallow borehole testing in late 2006.'

The total acreage covered by the agreement is approximately 2.1 mln acres.

The Latin America-focused petroleum exploration and production company said the deal enlarges its acreage position by approximately 70 pct to 5.1 mln acres held in Colombia, Peru and Panama.

The Valle Lunar agreement targets medium heavy oil deposits and grants Global the exclusive option to sign a future exclusive Exploration and Production Concession contract, typically approximately 25 years in duration, for acreage within the area that Global identifies as prospective and suitable for exploratory drilling and production operations.

tc



COPYRIGHT



Copyright AFX News Limited 2005. All rights reserved.

cheers GF.

keep the good news rolling gf
still a very thin market
but good to see fidelity raising stake
to 10%, all still looks very positive
as it has for sometime but now the sp
seems to be responding at last,
about time - an oil company pumping oil,
raising forecasts, new prospects, and single
figure p/e, not many bargains about like this.
should be higher a lot higher.
regards HUSTLER

Another little gem you have spotted GF.

I only have a small stake - but 20% on a small stake is still 20%.

Well done & thanks again for sharing your research

Baza

Its starting to happen.....................

Global Energy expects 'material' increase in 2005 production
AFX


LONDON (AFX) - Global Energy Development PLC, the Latin America-focused oil group, is expecting a sharp increase in production this year once its Colombian fields come on stream.

Additional output will come from the Los Hatos site which is adjoined to the producing Palo Blanco field within the Alcaravan contract area.

Further drilling and workovers at the Rio Verde field will also help drive production in the coming months.

'Production for 2005 is expected to be materially above what was achieved in 2004,' Global Energy said in an AGM statement.

The majority of the anticipated uplift is expected to come in the second half of 2005.

The group is also expecting improved pricing following a new crude oil sales contract it signed with Petrobras last month.

Further, Global Energy said it hired independent engineers, Ryder Scott, to review the reserves potentials of its various assets in Peru, Panama and Colombia.

mbe/bam

cheers GF.

Hi GF.
News is becoming regular now
and good news at that, more production
this year and oil prices remaing high.
Volumes have been low recently but
appears more activity is now brewing.
Sp up today, but i feel this is only the begining
a fast surge forward beyond 2.00 would realy
get it going.
All the best
HUSTLER

Good news as harken are selling down their stake and making the share more liquid................................


GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY


Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company, was today notified that
Harken Energy Corporation, a Delaware corporation, has sold a total of 900,000
ordinary shares of its holding in the Company's issued ordinary shares and now
holds 23,250,516 ordinary shares, representing 66.52% of the Company's issued
share capital.



For further information:

Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177

www.globalenergyplc.com


cheers GF.

Hi Gf
Good to see Harken reduce stake to 66%,
brokers have obviously been involved and advised
the board, seems to be working if more liquid the
price should rise. As it was the holding was unatractive
more like a close company, this now has platform to move
higher we hope from what we are told, a lot higher on
recent news.
regards
HUSTLER

Yup getting a head of steam up now Hustler.

cheers Gf.

Hi Gf
Thomas the tank engine is about to get a supercharger.
When fitted look out, 180 is daft, not speed but price
500 - 650+ where is Richard Noble what record Global thrust has arrived.
Compared to speed this has the scope to be a record breaker.
holding tight
HUSTLER

Cheers Hustler.

I see Harken have sold off more stock today, which means these are getting more liquid virtually by the day.

Global Energy Development PLC
22 June 2005


Immediate Release 22 June 2005



GLOBAL ENERGY DEVELOPMENT PLC


HOLDING IN COMPANY

Global Energy Development PLC (the 'Company'), the Latin America focused
petroleum exploration and production company, was today notified that Harken
Energy Corporation, a Delaware corporation, has sold 1,000,000 ordinary shares
of 1 pence each in the Company and now holds 22,250,516 ordinary shares,
representing 63.66% of the Company's issued share capital.




For further information:

cheers GF.

It's about to happen Gf.
Spread the word.
regards
HUSTLER

Will do.

cheers GF.

Going very well now and a lot more to come, please see the header refering to projected NAV.

cheers GF.

Really getting a head of steam on now. Difficult to get online but just give your broker a ring.

cheers GF.

And up again she goes.

cheers GF.

Broker advised that this stock only available as paper transaction.

Yup but it makes no difference with most Brokers, just give them a ring instead of using online facility.

Its moved up again I see. Looks like a stock shortage at the moment.

cheers GF.

Investors not being put off The Master, just ticked up again, now nearlly 11% on the day.

cheers GF.

Well its nearly 15% as I write - thanks GF for shareing your research on this and bringing this to our attention. Looks like you called it spot on.

Finished nicely. Lets keep it going next week.


cheers GF.

Hi Gf
only the begining
Harken sold of more stock good move
now we are about to have some fun.Hold on tight
all the best
HUSTLER

Cheers mate. It looks a good un. ( just look at the analyst report at the top of the thread, they are giving it away.) Think we could really earn some dosh here as the Adfvn boys havent a clue yet.

Just wait while they get hold of it. Should go through the rafters and I see this one as a real bouncer.

Yipee.

cheers GF.

PS, if you have access to Adfvn Hustler, why not bang out the Brokers note.

Cheers GF.

Hi guys,

Have been in at 175 level, i think I just miss the chance to top, isn't it?
many thanks and have a nice weekend.

Well done pui.

cheers GF.

Cracking looking chart.



cheers GF.

Looks like we missed this report aswell.......................

10.06.2005
GED Boosts Its Latin American Portfolio By 70 Per Cent With New Acreage In Colombia

AIM-quoted Global Energy Development has boosted the acreage in its Latin American portfolio by 70 per cent with the signing of a new Technical Evaluation Agreement covering a whopping 2.1 million acres in the Valle Lunar area in eastern Colombia. The new acreage lies in the established Llanos Basin and has hosted previous exploration activity, with two wells producing medium gravity oil in 1981. The TEA lasts for 16 months, during which time GED must reprocess 800 km of 2D seismic and acquire an aeromagnetic survey over the area. The results of this preliminary survey work will hopefully lead to the signing of a long-term exploration and production concession contract for the acreage. The company hopes to undertake shallow borehole testing by late 2006.

Stephen Voss, GEDs managing director, said the area has a highly effective petroleum system with analogies to the heavy oil belt of Venezuela. It is an area of significant medium heavy oil reserves which is of a less expensive and technically straightforward class to extract, as substantiated by data already available, said Voss. We anticipate the potential deposits to be at shallow depths requiring relatively modest costs.

The initial work programme under the terms of the TEA is expected to cost some US$544,000, which will be funded from current cash flows. The company enjoys a revenue stream from its properties in Colombia, which produce around 2,200 barrels of oil per day.

The company is keen to grow this number without busting its low-cost strategy. It can do this by undertaking well workovers and infill drilling and by developing deposits that lie near its existing production facilities.

In March, for example, GED worked over the Canacabare-1 well in the Anteojos field, which neighbours - and is connected to - the companys existing Palo Blanco field. Both fields lie in the Alcaravan Contract Area. The workover increased production from the well from around 100 bpd to 198 bpd. GED is now looking for offset well locations for further developing drilling on the field.

The company has also moved quickly on its Rio Verde acreage, which it signed for in September 2004. Two existing wells in the contract area, Tilodiran-1 and Macarenas-1, were recompleted and brought on production in December 2004 and January 2005 respectively. Since then they have produced 48,000 barrels of oil. In the meantime, the company has kicked off a 56 km 2D seismic survey around the Tilodiran-1 and Macarenas-1 wells in order to evaluate drilling locations for further wells, with plans to drill Tilodiran-2 before the end of the year. The seismic will also stretch further into the Rio Verde acreage to identify possible exploration opportunities.

In Panama, Global hopes to finalise a contract later this year to explore three on and offshore blocks, including the Garachine Block Area which lies within 100 miles of the strategic Panama Canal. This is a historic oil area, with several shallow onshore wells finding good oil shows in the Mid Miocene back in the 1920s. More recent offshore seismic exploration in the eastern Gulf substantiated this potential.

GED is also active in Peru and last month announced that it had accelerated its plans for Block 95 in the Maranon Basin in the northeast of the country. This block includes the Bretana field, which was discovered in 1974 with the successful test of the Bretana-1 well, which flowed 800 bpd of 18-degree API gravity oil. Global is keen to get to grips with this heavy oil deposit and has signed up a seismic contractor to acquire an aeromagnetic survey over the acreage. It also plans to acquire the 4,800 sq km of micro-magnetic geophysical data specified by the contract ahead of time and then proceed to drilling on the Bretana field in late 2006 or early 2007, to be followed by an exploration well in late 2008.

Despite this acceleration of its plans in Peru, Global is taking a cautious approach to growing its portfolio. It focuses on countries with generous fiscal terms - Colombia and Peru offer some of the most attractive terms in the industry - and prefers to sign up for low-cost entry positions (known as technical evaluation agreements) that allow it to scout out a blocks potential before committing to expensive seismic and drilling work. The company steers clear of blue-sky exploration and favours projects that can be quickly monetized through low cost drilling, workovers and tie-ins.

Its adding up to a nice little business in an industry-friendly region yet the stock often flies below the radar of many investors. Spun out of US oil outfit Harken Energy, liquidity is a problem as the Texan firm still holds around 85 per cent of the stock. Addressing this issue could pave the way for making this growing company more attractive to would-be investors. ENDS.

Well we know the liquidity problem is being sorted out. Harken now hold around 65% of the stock.


cheers GF.

shouldnt you also look at een who are ged's neighbours and not at all demanding valuation with big news due in july

Looks like we have a tree shake this morning. Never mind the trend is obviously upwards.

cheers GF.

Investors buying on the pullback.

cheers GF.

Down despite buys being very much larger than sells.

Well might aswell award the game to MilwaLL despite being socked 10 nil.

PATHETIC.

cheers GF.

Hi Gf
Fret not 17% gain on Friday.
Markets battered today
only 9% rises against 22% losers.
Last close gainers battered most overalll,
we will survive and be a lot higher come the fall.
Remember we are in the funny season at the moment.
regards
HUSTLER

Cheers mate.

GF.

Come on Guys, this should make you buy the shares and as yet untouched by the B/B herd. LOL.



cheers Gf.

GF what do you think of een who are ged's neighbours in the llanos basin
IMHO een well undervalued at 90m when next full year results could give 10m profit mad isnt it .

Hi Gordon,

it looks rather promising at the moment, but I have ordered the company report and then I will see the full accounts.

Hoping its really good but please remember I go for value stocks. No matter what.

Will be back in touch.

cheers GF.

GF while your looking for undervalued stocks check out PWR its also not on anyones radar in my opinion and think will be tipped by shares mag soon ?

Nice to see this one moving back up to recent highs.

cheers GF.

A small fall today, but big big news coming up.

cheers GF.

Hi Gf
Still near its high
this one has only one way to go
higher & higher & higher
hold on tight.
Wishing well.
HUSTLER

Cheers Hustler. Heres a bit of news..................

Global Energy Development PLC
06 July 2005




Immediate Release 6 July 2005





GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY



Global Energy Development PLC (the 'Company'), the Latin America focused
petroleum exploration and production company (LSE-AIM: 'GED'), was notified on 4
July 2005 by The Bank of New York Europe Limited on behalf of Merrill Lynch
Investment Managers Limited that Merrill Lynch Investment Managers Limited as
discretionary managers of Merrill Lynch International Investment Funds ('MLIIF')
European Opportunities Fund has an interest in 1,052,192 ordinary shares of 1
pence each of the Company, representing 3.01% of the Company's issued share
capital.




For further information:



Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177


www.globalenergyplc.com

cheers GF.

Moving up this morning, still WAY undervalued.

cheers GF.

Just catching breath before
the next surge forward GF.
Have a look at it's chart,
we are on board that is all that
matters at present, it's just a waiting game.
all the best
HUSTLER

GF,

can you please put a 1 year chart in the header?

TIA.

Done Andy. Hustler not much ativity here today. Seems to really move up on news flow.

cheers GF.

GF,

many thanks.

No problems Andy.

cheers GF.

GF remeber SVR ??? looks to have hit the bottom and stands good chance of
recovering to 40p imho ?

Hi Gordon.

Posted on thread.

cheers GF.

Lost it's heartbeat at present GF
but not for long
all the best
HUSTLER

Yup we need a bit of news to get the momentum going again.

cheers GF.

Looking an absolute bargain at todays price with short term nav of circa 400p and longterm nav circa of 8 , P/e only 4 aswell. Its just waiting to be bought. With forward P/E of forecast 5.

cheers GF.

Could not agree more Gf
giving it away at this price.
I feel 6.00 now would still be a bargain
can only put it down to a thin market, and
still not that easy to trade any real volume,
but as the news spreads i am sure it will pick
up fast.
All the best
HUSTLER

Global Energy Development PLC
02 August 2005


Immediate Release 2 August 2005



GLOBAL ENERGY DEVELOPMENT PLC

Exercise of Warrants

Global Energy Development PLC (the 'Company') announces that following receipt
of notices to exercise warrants at an exercise price of 60p from four
shareholders of the Company, with the latest notice received on 22 July 2005,
the Company has allotted and issued credited as fully paid 81,108 new ordinary
shares in the Company (the 'New Shares'). Application has been made for the New
Shares to be admitted to trading on AIM and admission is expected to occur on 8
August 2005.



Following admission, the issued share capital of the Company will be 35,046,155
ordinary shares.



Following today's announcement there are 84,275 warrants outstanding in respect
to the Company's ordinary shares with an expiry date of 8 August 2005 and an
exercise price of 60p, these being held by minority shareholders.

Global Energy Development PLC
16 August 2005


Immediate Release 16 August 2005



GLOBAL ENERGY DEVELOPMENT PLC


RIG MOBILIZATION TO FIRST EXPLORATORY WELL ON LOS HATOS CONTRACT



Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), announces
that it has commenced rig mobilization to the first well, Los Hatos 1, within
its exclusive 85,000 acre Los Hatos Exploration and Production Concession
contract (the 'Contract') in Colombia.


The Contract, part of an approximate 5.1 million acre portfolio currently held
by Global in Colombia, Peru and Panama, is located in the central Llanos region
and is contiguous southwards to Global's Alcaravan Association contract which
contains the established, producing Palo Blanco field.


The Los Hatos 1 exploratory well is updip and approximately 300 metres from the
Cajaro 1 well within the Palo Blanco field, with this well having cumulative
production to date of approximately 328,000 gross barrels of oil since it was
placed on to production in June 2003. Global anticipates Los Hatos 1 to have a
significantly larger oil zone thickness than Cajaro 1's 11 feet.


Global expects to spud Los Hatos 1 by late August 2005 with the well equipped
for production by early October 2005.


Should Los Hatos 1 be successful it will increase to five the number of Global's
contracts currently producing, with 100% ownership by Global of all contracts,
and the Company would expect the Los Hatos Contract to add to the Company's
independently reported proved and probable reserves as at 31 December 2005.


Following the operations on Los Hatos 1, Global expects the rig to be mobilized
sometime during the fourth quarter to another exploratory well, Tilodiran 2,
within the producing Rio Verde Exploration and Production Concession contract.

Hi guys,

just using a customers PC over here in Aussieland in the middle of my 8 week business trip (should read piss up). The aussies are really shaking at the thought of playing our lads down at Trent Bridge, they have been really rocked at just how good we are. Hope everyones making money and should be certainly on this one.

Expecting results to be corking.

Sees ya later cobbers.

Cheers Gf.

Global Energy Development PLC
16 August 2005


Immediate Release 16 April 2005

GLOBAL ENERGY DEVELOPMENT PLC


NOTIFICATION OF RESULTS



Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), announces
that Harken Energy Corporation ('Harken'), a Delaware corporation and the holder
of approximately 62% of the Company's issued ordinary shares, has filed with the
Securities and Exchange Commission of the United States, its Quarterly Report on
Form 10-Q for the quarter ended 30 June 2005. Harken's Form 10-Q, filed on a
consolidated basis, includes certain financial information, on a United States
GAAP basis, with respect to the Company's operations.


Global anticipates announcing interim results for the six months ended 30 June
2005, on a U.K. GAAP basis, on Thursday, 1 September 2005.



For further information:


Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177

www.globalenergyplc.com
+44 (0) 7909918034

it is the next mover in the oil sector it could make you rich in short time go for it
dont miss the boat

Global Energy Development PLC
01 September 2005


Immediate Release 1 September 2005

GLOBAL ENERGY DEVELOPMENT PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2005

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce its interim results for the six months ended 30 June 2005.

Highlights:

Revenues up 64.8% at $9,103,000 against the comparable period last
year (2004: $5,524,000);

Gross profit up 69.4% at $4,997,000 (2004: $2,949,000);

Profit before tax up 38.3% at $3,138,000 (2004: $2,269,000) and
greater than the full year ended 31 December 2004;

Net income up 42.6% at $2,797,000 (2004: $1,961,000) and greater
than the full year ended 31 December 2004;

Capital expenditure up 158.3% at $6,361,000 (2004: $2,463,000) with
capital expenditure for the year ended 31 December 2005 anticipated at
approximately $16 million;

No debt as at 30 June 2005;

Escalation of production underway for the second half of 2005;

Rapid progression towards exploratory drilling on several existing
contracts; and

Additional acreage anticipated to be secured during the remainder of
2005 and into 2006.

Commenting on the outlook for the Company, Mikel Faulkner, Chairman, said:

'For the remainder of 2005, Global intends to grow production, to add to the
high potential acreage already under the Company's control and progress rapidly
to exploratory drilling on several of its newer acreage positions which the
management of Global believe offer significant scope for substantial finds based
on historic data and recently completed third-party reports. Global looks
forward to the remainder of 2005 and beyond with confidence.'

Cracking results.

Sees you in two weeks baza.

cheers GF.

My tip for the first half of 2006. A really bad winter on the way can only mean still higher Oil prices.

OPEC can produce as much as they want but if demand is greater than supply
well!.

Not only that but the big boys are awash with cash. Watch out for consolidation/takeovers.

cheers Gf.

Hear hear Gf.
I suspect you have a few more oil stocks
tucked away as i have.
and only the beginning of the run for global.
All the best
HUSTLER

Hi Hustler,

just been reading a report from Mark Slater and he says he sees Oil prices going up for many years to come. There just aint enough of it to go around.

I hold Soco, Egdon, and Star aswell as Hamworthy.

cheers Gf.

Looks like its responding to yet higher oil prices.

cheers Gf.

Nice to see this one on its way up again.

cheers Gf.

Going well again today. Seemingly there was a very big buy yesterday. Im awaiting the RNS.

cheers Gf.

GOLDFINGER,
How are you,
I was wondering if you are still in IDD?,
I miss your posts on the idd thread

Hi GF
Good to see a new high 2.82 at post.
Plenty more to come
the price is still daft,
but the market now seems
to be responding.
All the best
HUSTLER

Makes you wonder when the market is going to awaken to this one. Meanwhile Ill just keep buying on the sly. What did the Brokers say the Nav was 18 months out 8 to 9 quid.

CP no not in IDD now.

cheers GF.

Cheers GF

...meanwhile GED continues its steady climb - I do like this share

baza

check een results out on 28th cannot understand why GED double this year and een pretty much gone nowhere EEN is GED neighbour in llanos basin any ideas ?

No idea Gordon, best get aboard GED which is absolutley steaming ahead with a new high. Dont forget NAV prediction of about 8 plus within 18 months and that could be very conservative.

cheers GF.

Just found out, tipped in Shares Mag as main tip. jolly Ho.

cheers Gf.

GF
This is starting to look good. I was a bit reluctant because of the tight hold Harken had. Do you know what Harken's holding is at the moment?

MS

Hi Micky
According to company refs harken hold 34.1%.
I know they have been off loading recently but
i am not sure the figure is that low, however the
more liquid the stock becomes the more attractive it is.
House broker Teather & Greenwood update 15 Sept STRONG BUY.
Shares Mag today main tip,
and a new high up 23p to 3.06 at post.
And still giving it away roll on for more.
All the best
HUSTLER
NB
Just checked out shares mag they quote harken holding 61%
and looking to reduce to just under 50%

HUSTLER

That really does make these look good. Reducing down to below 50% is what I like to hear. I'll have another look tomorrow.

Well worth getting in Mickey before the adfvn crowd.

cheers GF.

I reckon that it might drop back a bit next week after the euphoria of being tipped in Shares Mag. Kicking myself for not topping uplast week.

baza

save the shares mag tip which they tipped before have held GED but think its valuation too high compared to EEN who are doing 4000 BOPD also valued at 96M
anyone got both ??? and some thoughts

The 'valuation' of GED isn't just based on current revenues but also on the company's past growth and future prospects which are potentially huge. Their acreage is immense.

you mean sentiment of GED past record not that brillant and the BOPD growth is
not that astounding check out EEN got all this and more kiss of death comes from shares mag again tipping them at the top

I here GED was tipped by Fat Prophets last week aswell.

Anyone have the Shares Mag item please?.

cheers GF.

Hi Goldfinger, I have it. Send me your email address, will scan it and mail it to you.

Phil.

Thanks Philip, just click on my name and you will be able to send it via this boards message service. Many thanks in anticipation.

cheers Gf.

Hi Goldfinger

I cannot send attachments via the email system on MoneyAM.

Send me an email to:

adidaslad1@hotmail.com

and I shall respond with the info on GED.

Phil

Hi Gf
Go to Money AM home page
to download Shares Mag i am sure your subs allow it.
You must have acrobat which i am sure you have.
Regards
HUSTLER

str9ingy,

Good to see you in some oilers, northern hemisphere winter will soon be here, and then we should see all producers doing ok IMHO.

GED look ok, but I don't like buying when a chart is as steep as that.

Thanks for the help chaps but I got her indoors to pick a copy of the mag up for me. A very positive piece.

Andy its this second half of the year that this one really goes to town.

cheers GF.

EEN reporting tommorrow will get back into GED if falls a bit from this level surely someone can do comparision both in columbia so all what shares said pretty much stands true for EEN but they are delivering more oil and the reserves are about to be increased by 15m proven reserves

Thanks Andy,

Been in a few 'oilers' and done well so far. Best to date was DGO but got out too early....should have stuck with that one!

I found GED myself whilst searching through all the oil minnows in March and bought in at 1.73.....a faster riser than DGO were for me, though seemed to take a while for people to discover them. Always loved this one, though as a 'newbie' investor I initially thought I'd made some mistake as I never saw them mentioned anywhere. -Happy with my choice now.

Srtingy, I beleive theres an awfull lot left in the tank on this one. Best of luck.

cheers Gf.

Hi Gf
Only on tickover at the moment
plenty of gears left to go,
6.00 in third - forth & fifth who knows.
Money making machine.
Lap it up
HUSTLER

Will do Hustler.

cheers Gf.

what are the easiest brokers to get hold of this share? Halifax state them as 'residual' and are unable to trade them . I understand they are tightly held by Harken but there is obviously some liquidity. thanks, Tau.

Hi Tau,

this lot can get hold of them easily WWW.share.com.

The share Centre. Not one of my usual brokers but for some reason they have no problems.

cheers GF.

A nice ride up this morning. Must be Tau whos gone in and bought.

cheers GF.

Well finished the day nicely. May even get a back up piece in Shares Mag tomorrow.

cheers GF.

Up 13 spots today Gf on a good market
feels like changing into 2nd gear is not far away 4.00 plus
b4 xmas i feel.
I note previous posts about liquidity,
more stock is coming to the market as Harken
loosens it's grip this can only be taken as
very good news.
All the best
HUSTLER

cheers for your help goldfinger-finally got my foot in the door. This really does seem to be steaming ahead. well done for pointing this 'value investment' opportunity out around 1.60 (if i remember correctly) there does seem to be a lot more left.

Cheers Tau.

A few statistics here for holders and would be buyers................

From Shares Mag last week..GED being on a 2006 PE of 6.7 compared to a sector average of 14.

And from a reliable poster on the other board..

The Turk - 22 Sep'05 - 16:19 - 714 of 722


Sharescope gives a 1 year rolling PEG of just 0.09 , which is also the lowest in the sector . For the information of those that do not understand rolling PEGS it is the PER one year one divided by the growth in EPS - the lower figure the better. ENDS.

Indeed anything under 1.25 is very cheap.

DYOR and BUY now before it gets away from you.

cheers GF.

goldfinger,

and that's not accounting for the huge potential with the size of GED's current exploration acreage!

DYOR.......that's how I found these in the first place.

Yup the 18 month targeted NAV going into 2006 is approx 8 per share.

cheers GF.

Moving up yet again Guys. Dont forget those of you not yet in, plenty left in the tank.

cheers GF.

TA looks very strong.

cheers GF.

Another tick up, Nice.

cheers GF.

And we have more.

cheers Gf.

Danation - I thought these might have dropped back after last weeks Share review euphoria. - looks like I was wrong - again

Baza

1:4 @ 15 : 15.25 and 150k v 350k

Sorry - wrong thread

Its going very well here Baza I hope your making the loly as ever.

cheers GF.

Another day another rise. Blimey just wait until the management start reporting news flow and they dont half lob it out.

cheers GF.

Moving higher. NICE.

cheers Gf.

Damn, damn, damn - I have got a small holding in this from way back - and I keep looking to top up on the fall back - but it keeps going up - can you please just retreat just a bit so that I can top up some more !!!!

Thanks GF - doing nicely thank you - but mainly on the back of recommendations made by you and others as I am not a whizz at this stuff.

Have a good weekend all

Same for me bhunt1910, ,except i didn't buy any !!!,, i looked at it back in April when GF first posted at 160 something i think ,,then recently like you i thought i would buy when it went in to the doldrums for a week or two.. Probably why i don't drive a Ferarri .

Hi bhunt & Jimmy
This has winner written all over it. as Gf
points out nav 8.00
p/e is cheap as chips and it is producing the goods.
The thin market has been the only thing holding it
notwithstanding it has still doubled in the last 6 months,
and Harken the main stakeholder is quoted to be
reducing it's holding to just below 50% to allow
more liquidity. Best of luck holding for a drop back
it could happen short term.
But remember it is cheap at this price.
All the best
HUSTLER

Howdi HUSTLER, looks like bhunt and myself may still be waiting to get in at 4 ,,think i may join GF and yourself on monday.,have a good weekend chaps..

Thanks jimmy b.

If you do join us on monday and there is a retrace, don't let that worry you too much as I'm sure it will only be temperory. The current and forward p/e is quite attractive then there's the NAV of 8 quoted above.

Don't know how much you've researched GED but their acreage is pretty big and very prospective too. Could be much more to come in the years ahead.

Cheers stringy, i intend to have a little read over the weekend.

Hoping you were convinced Jimmy.

cheers GF.

Come on Ged do the right thing in the morning and move north.

cheers GF.

Of she goes again

Baza

Just tried to buy 4500 shares and could'nt ,can only buy 1000 ..

Yup superb Baza.

cheers GF.

I had a buy order for 2500 @338 which was not actioned

Give them a ring.

cheers GF.

Thought you were in this one already Baz, is that a top up then?. Just bought myself a cart load of GFM Griffin Mining. Three year before the Zinc Miners can get back to a position where they meet demand. Price should go through the ceiling and GFM are now producing and in a very strong position in CHINA.

cheers GF.

GF,

good spot this one, I was going to buy last week, so rang for the annual report, and then had to work, and then they shot up!

YES but theres plenty left ANDY. Please see the heading at the very top, and remember this next 6 months is the reporting season for this one,
and by god do this lot report.

cheers GF.

Been in since March so done quite well so far. Good to see them noticed eventually.

Tried to top up this AM but still not crest so couldn't buy them through my Squaregain account........damn it!

No time to go to the bank as I did when I first bought these. Still time left yet though......I hope.

Hi All
GF & I have warned you the market is tight on this one, but it will improve.
You have to Bully your way in, up 5.5% again today,
auto trades block you out above NMS of 500
phone your broker
it's going higher.
Regards
HUSTLER

stringy,

HAve you a spread bet account?

If Squaregain cannot trade it, I will spreadbet it.

Good idea Andy I hope others have seen that.

Words of Wizdom again from Hustler. Well may it continue.

By the way I have no problems getting hold of the stock with one of my brokers the Share Centre. Whatever I want they get it me, although I ring them up.

cheers GF.

Mornin a g GF - Thanks - I do have a small holding - but only about 5k worth (now worth 10k) - and I did eventually top up 1000 @ 345 - which will mean that they are likely to drop back today - as they always do after I buy.

Thanks again for pointing this out when you did

Baza

GF,

I know you can't argue with a rising price, but doesn't the lack of volume worry you?

When you say Sharecentre, do you mean www.Share.com?

Andy, Yup for share.com and no volume doesnt worry me as shares rather iliquid NMS small, but Harken have given assurances they will sell still yet more of their stake into market.

Must say Its not moved today on all those buys. Wonder if we have a delayed sell coming through or is it Baza thats put the jink on it again LOL.


What a lousy day it is alround. Mind we were due one.

cheers GF.

anyone have any views as to how high this could get, realistically speaking, not dream world

Sorry guys -my fault - again

Baza

LOL Baza.

Tudwick I suppose it all depends on your length of time you hold a share or wont to hold a share.

I for one would be looking for the long term NAV to be realised around about 8 at the moment but I feel thats rather conservative.

For a report on NAV please see header or analyst note link just below.

cheers GF.

Thanks Andy.

I do have a spread betting account with IG Index........never used it yet but it's there. Might do that. After all any gains would then be tax free!

Looked at the site and have listed four companies in the my (whatever) section. Suppose I'd have to phone them during the day for a quote........no info when markets closed.

stringy,

Tax free, exactly!

IG will quote on any AIM stock with a market cap of > 10 million.

That's why I chose them Andy.

Am I right in assuming that I can only get prices during trading hours? Will look into this tonight.

stringy , i tried to open a spread on GED this morning, they quoted 10p above the offer and wouldn't allow me to bet the amount per point that i wanted ,you may have more luck tomorrow, IG can be very good and also very frustrating at times....Good luck JB..

Stringy,

Yes I believe so.

Thanks Andy, jimmy b.

Jimmy b,

10 points above?

Sounds like they're running scared!

But you would have to be very careful taking a bet at 10 points out of the money, as if it dropped you would be murdered on the spread, and they skew prices when they choose.

Andy,

That's the main reason I haven't used the account so far. Just sticking to shares at the mo. Have had good success with investing but very poor results trading shares anyway so far.

Forget the betting lads, can you beleive it on the other site they said I had died this evening, and not only that every site I go on even Hemscott as me down as having snuffed it tonight. So as a prank I joined in and loved it.

Any body who doesnt beleive in the strength of B/Bs is talking wet.

Mind im still alive. Might go out and get pissed (celebreate my own wake lol.) on just that alone tomorrow if the markets are flat. HE HE, ANY EXCUSE. Mind I need one with her indoors , bless her.cheers GF.


cheers GF.

.

LOL !!

Morning GF - kere to many more long years!!!

Baza

Gf,

ADVfN, or Motley Fool?

AIM stocks getting hammered again today.

Yes Andy ,just as well i didn't take that spread yesterday ,everthings gone red ,i'm sure it will bounce back..
I wonder if GF is back from the Embalmers yet :-) ..

LOL. A general sell off going on at the moment. No need worry. What goes down does back up.

cheers Gf.

GF,

which board was exagerating rumours of your demise?

If i buy into this the SP will bloody drop i guarantee!!
Good call Goldfinger i did look at this when you posted but being the wise old owl that i am didn`t buy any,oh well bread and water for tea again!
Oh nearly forgot RIP
DB66

LOL DB.

Andy quite a few in fact. Rumours spread quickly. Im just ignoring the tittle tattle.

cheers GF.

Hi GF
Where ever you are upstairs downstairs or just
left planit earth for tax reasons, good move.
Imagine a life without tax what a pleasure that
would be. Just a bit of dribble to take my mind
off the market in general today, hope tomorrow
is better, although i doubt it as yanks have been
battered again tonight HUGE hope we don't follow.
Hope you are well
and holding your nerve.
All the best
HUSTLER

Just a market correction Hustler. Weve seen them before many a time. Lots panicking but they'l only have to buy back in with all the associated costs. Its not specific to any company, but obviously the higher the beta the greater the fall now and the greater the subsequent rise when we get it out of the system.

Must say though investors with a big % of their portfolio in cash should have some superb buying opportunities.

I suppose its all about timing the bottom here and looking towards the Yanks for signals.

Its given me a chance to stay away from the screens and get some overdue gardening and DIY done.

Best of luck.

cheers GF.

Heres an interesting piece.

Guinness expects higher oil prices

Published: 11:34 Thursday 06 October 2005 By: Simon Evans, Funds Reporter Printable Version



Tim Guinness, manager of Investec Asset Managements Global Energy fund, has warned investors not to get spooked about a likely fall in the short-term price of oil.

Guinness has presided over what he describes as supercharged and stonking returns on his 75 million fund since it became available to UK retail investors at the end of 2004.

Since launch the (Investec Global Energy A Acc) fund has returned 82.1%, which is about 32 percentage points ahead of the corresponding increase in the benchmark over the same period.

Guinness cautioned investors not to get jumpy about a correction. He said: A fall in the price of oil doesnt necessarily mean oil stocks automatically fall in price too. The oil price is volatile and there will be plenty of corrections in the coming years but in the long-term the price is only going one way.

Guinness said he believed the price of oil could be realistically supported at $85 a barrel in the next three years, adding that the once unthinkable $100 barrel was now also a distinct possibility.

Guinness expects higher oil prices
Published: 11:34 Thursday 06 October 2005 < PREV | 1 | 2 | NEXT > TOTAL PAGES: 2
By: Simon Evans, Funds Reporter Printable Version Email A Friend
Back To Latest News

Related Articles
Oil price too high in the short-term, forecasts Investec's Guinness:
09:08 Thu 30 June 2005 read







There are clearly constraints on how high the oil price can go but the fact that we are near capacity means that the price of oil could certainly overshoot and breakthrough the $100 a barrel mark, said Guinness.

He said he believed expectations of a higher oil price in the coming years meant many oil-related stocks were screaming buy opportunities. Valued on the basis of a $45 barrel many companies in the sector look distinctly undervalued, he said.

Guinness, who founded Guinness Flight Asset Management with failed Tory MP Howard Flight in the 1980s, is in the process of increasing his funds exposure to refineries, a sector of the oil market that he has tended to shy away from.

The refining business has enjoyed a boom over the last 18 months that has taken people by surprise, said Guinness, who added that from a refining perspective hurricane Katrina had been positive for a number of his holdings.

For many exploration and production stocks refining has been something of a ball and chain, said Guinness. Its taken 20 years to work off the excess capacity in refining and now, at last, margins have become glorious.

cheers GF. PS, anyone selling Oil stocks must be mad.

A welcome return to form. Looks like those who missed the boat first time are now getting in on the cheap.

cheers GF. Added a tranche myself.

I have just maneged to buy 4726 shares in one go ,most i could buy before was 1000, so i didn't ,how lucky is that ,,i nearly bought at 350p,,so i'm chuffed,, for some reason though my buy hasn't shown up..

Jimmy - dont rub it in - after sitting on the side lines with a small holding, I finally managed to get a worked trade at 345 !!!! Just before they dropped

Bad timing eh - but I still feel very confident about the future of this company - so not too worried. My total holding is still in profit

Baza

Baza, just a bit of luck ,because i couldn't buy in one lump i didn't, then the downward spiral of the last two days ,and the selling ,i figured the mm's would have plenty laying around..So long as your not looking to be in and out quickly i'm sure these will do well..

Strange it didnt move up today on all those buys. Very strange.

cheers GF.

maybe a large buy or sell order in the background.

T trade maybe.

Could well be.

cheers GF.

Tempted to add more of these tomorrow.

cheers GF.

Well what a lousy day all round, back to bed me thinks.

cheers GF.

GF,

H & S forming here?

Not looking good, BID 277p now.

Youve got to remember though Andy its got a very high beta. Itl go up just as quick as its come down. Im very confident. NAV of 8 quid in the next 12 months or so. Its a give away at the present price. Although P/es arent so relevant with miners I bet its way below 5. Going for lunch so dont have time to check it.

cheers GF.

Oils getting hammered again this morning ,lets hope this holds up,,so far so good...

Still confident on OIls Jimmy and this one especially. The winter months will see prices back up again and strength going back into the small producers.

cheers GF.

I too see the value here GF and am in (hopefully) for the long run. May buy more.

Rotten all around at the moment Jimmy. Mind I can remember the last two years being rather similar and just when you think the markets had it, it jumps back up and smacks you on the face.

Hoping so anyway. Its very subdued on all the boards.

cheers GF.

We should be careful what we wish for goldfinger. I hold three oil stocks.........nearly half of my invested cash is in them but I'd be happier with a slightly lower oil price.

This high oil price poses a substantial risk to the Global economy........the higher it goes and the longer it is sustained, the greater the risk of a Global recession. The markets have been taking enough of a battering as it is and if high oil prices do lead to a Global recession then the oil price will fall heavily as a result anyway imo.

No problems, every body is entitled to their view and I for one respect that.

Just staying cool myself , Im up 141% for the year on my 18 investments although having said that Ive taken a 28% bashing or so just lately. Barstewards.

Like ive said before you make your own minds up as ever I post DYOR.

Im going to stick in as my recommendations are Oil weighted stocks on the whole. I see oil prices companies(producers) going berserk from January onwards.

Watch out with pure explorers though, they could find it difficult.

Ive also gotten into a fantastic dull share thats reaped me a 14 % or so rise in the last 10 days. SMC - more to come. Boring twatish architects/surveyors who have a rolling P/E of 11 sdropping down to 8 next year. NICE.

I say this forget the momentum stocks and look for quality stocks with low P/Es.

cheers GF. As most know looking to help others but I cant hold their hands day, by day. I hope you understand.

Hi Stringy taken this opportunity to post to you alone or anyone else who is wanting to look in.

To say that you have 50% OILS tied up in your portfolio is crazy to say the least.

You must spread your investments around. Ive been in this business over 22 years and beleive me you are in a position where you can severely be burnt. Obviously I and others dont want that to happen.

The market as a whole is having a bad week. Shares are down. But the market is NOT the artbiter of value but only of price.

Now is not the time to sell. Becuase you are just giving away wealth. Now is the time to buy. The cash has not gone away, only the nerve of some holders has disappeared.

But I ask you as a freind to gradually change your weightings.

cheers Gf.

Hi GF Smc
Been watching them since 13 oct 63p now 77.5 up 23%
good move getting on them they look good.
I bucked out as will only now move on stock trading over 2500 ave trade
been burnt trying to sell a few below that level to volitile
smc ave trade 13/10 1800 moved up to 2300 now so looking good.
As for global most oil stocks have taken a beating this week
not suprising after recent gains but no need to panic
Ged tucked away for the long term.
regards
HUSTLER

Hi Hustler,

nice as always to speak to you and listen to your findings which I take very seriously.

SMC could easily be a year on from here 210p as its derd cheap and Im taking my chances.

GED as ever will go higher, im not going to panic at all and I can see plenty of bullish news that will push this very much higher over the coming months. NAV 8quid.

In fact im adding to this one and Carclo by the day.

Well by that I mean on most days.

Good luck and cheers GF.

back again GF
Appologies previous post, date info incorrect should read 13 / 9
bit knackered time for bed
all the best
HUSTLER
ps carclo on my list since april not moved to date but interesting
keep in touch

Thanks for the advice goldfinger.........much appreciated.

I found GED back in march and it's been one of my best performers to date. I'm a little less than 50% into oil but without doing the sums (it's late), I'd say the figure is in the mid 40's. A little too high perhaps but all with great upside potential. Non are just explorers though, all have contracts.

I did used to have a more diverse portfolio and did well out of Synergy Healthcare, Plusnet and Dragon Oil. Now I'm mostly in oil, metals and tech stocks. The main reason being that I feel I understand those more than other sectors.........time may prove me wrong.

Maybe I should look into diversifying a bit and look more for value rather than momentum stocks.

Will consider this over the weekend.

Thanks again.............Tony

Tell you what Tony its great to see an investor who can take advice. Im sure you are going to be a good un.

Please remember ........ Read, read and read, as many investment books as you can and you will be a a far better investor. We all learn by the day, Ive never stopped learning and never will. Buy a new book every month, otherwise go to the liabary, and have a look at some of the historical ones. Still the same as it was then.

cheers GF.

Up we go , nice RNS, GF i wish you had posted SMC earlier ,i can't find much on it..

Yup just the first I feel in this busier half.

Global Energy expects to flow more oil at Torcaz field after further work
AFX


LONDON (AFX) - Global Energy Development PLC said it is expecting a dramatic increase in the volume of oil it can potentially recover from the Torcaz field in Colombia once it completes further work on the site.

Torcaz is believed to contain proved and probable reserves of around 144 mln barrels, with recoverable reserves -- net to Global Energy -- estimated to be almost 3 mln barrels.

Current recovery rates for the field is estimated to be 'less than 3 pct' of the reserves figure.

'The management of Global Energy believe, following analysis of the engineering feasibility study, that if the project is successful, there could be a four-fold improvement in recovery rates,' the company said in a statement.

It is piloting a test programme that will involve injecting CO2 (carbon dioxide) into the producing wells, thereby improving oil mobility in and around the holes.

Should the project turn in encouraging results, it will be proceeding with the engineering and geological plans needed to develop the field.

mbe/lam

cheers GF.

Well its up but only just on another shocker of a day. RSI shows it to be oversold.

cheers GF.

Taking a pasting today,as are other oils ,oh well been here before .

Everythings taking a pasting. Looks like the US is to blame from last nights session.

Lets hope this is the last of the clearing out and the bottom.

cheers GF.

It's been bad for the last few days. Everything is down except the wife's draws.

MS

We got bashed more than the other aim oils ,and were not rising with them either ,now that's just not fair..

Lukoil interested in projects outside Russia
AFX


ASTANA (AFX) - Lukoil is out to enforce its international presence and draw profit from geopolitical developments favourable to Russia, particularly in the Caspian and Latin America, said Andrei Kuzyaiev, president of Lukoil Overseas, the oil giant's international subsidiary, in the Kazakh capital Astana.

'The profitability of foreign projects can be three times higher than in Russia,' where much disappeared due to taxes, said Kuzyaiev.

The group, which set up Lukoil Overseas five years ago amid rapid expansion, today extracts 5 pct of its oil and 15 pct of its gas outside of Russia -- in Kazakhstan and Egypt. It also participates in exploration projects in Azerbaijan, Columbia, Iran and Venezuela.

Kuzyaiev stressed that Lukoil is fast becoming one of the world's leading producers thanks to its formidable reserves, second only to those of ExxonMobil.

However, a Lukoil source also indicated that Lukoil's expansion perspectives in Russia were de facto limited due to strong ambitions of gas giant Gazprom and another oil producer, Rosneft, who had jumped into the fray for the country's best oil assets.

Lukoil recently paid 2 bln dollars to acquire Nelson Resources, a holding company that controls 1 pct of Kazakhstan's oil reserves, one of the key potential new sources on the world oil market.

The Russian company, which already extracts oil from two Kazakh fields, Karachaganak and Kumkol, in October sealed the deal for 66.5 pct of Nelson Resources and is waiting for approval from minority shareholders to buy the rest.

'We have an advantage in the Caspian: We are close to Kazakhstan, Azerbaijan and Turkmenistan in our mentality, history and language,' Kuzyaiev said.

Russian energy companies have also been benefiting from a recent warming of political ties between Moscow and Central Asian governments, resulting in oil and gas accords between local national companies and Russia's own Gazprom, Rosneft and Lukoil.

In June, Lukoil signed an important contract with Uzbekistan, where it is due to start extracting gas in 2007. However, 'when compared with CNPC which disposes of China's state budget, Lukoil, as a private company, is not very much of a rival,' the official admitted.

Lukoil also hopes to extend its activities in Venezuela, taking advantage of problematic relations between Western companies and Venezuela's populist President Hugo Chavez.

One particularly promising project is the Orinoco field where Lukoil hopes to exploit one sector. The Russian group is also exploring in Columbia and eyeing several acquisitions in Colombia, Equador and Venezuela.

On the downside, the group has yet to make any progress in Iraq, where it hopes to recover its exploitation rights over the vast oil West-Qurna 2 field.

Lukoil gained those rights in 1997, but the contract had since then been annulled by Saddam Hussein's regime.

The Russian producer has sought ties with the new Iraqi authorities by bringing Iraqi engineers to its training centres. It is also hoping for a helping hand from the US company ConocoPhillips, a strategic investor in Lukoil, to regain its foothold in the country.

lgo/cal/sms/jmy




Thread List Earlier Posts

Well IM sticking with this one. We could have a down week for Oil prices coming, but remember with a very high beta this one can turn around very suddenly.

cheers GF.

Hi GF. You often refer to Beta. I assume this is an ascillator. What does a high or low beta mean or imply?. I understand GED has a Beta of .12. Is this considered high?

Regards

Hi solipa. This should help.

http://http://help.yahoo.com/help/uk/fin/treport/treport-03.html

cheers GF.

http://help.yahoo.com/help/uk/fin/treport/treport-03.html

Dont know whats happened to the Money am trades this morning so far. Everything is all over the place????????????.

cheers GF.

Level 2 showing 1:3 @ 255 : 265 and 1k v 3k

Why are GED not moving up with other oil shares ?

I suppose we can't move up if there are no buys today.

Strange that the whole market is down despite the massive rise in the dow last night

Baza

Am not talking just about today but all last week and so far this week.

I think there were quite a lot of sells aldwickk ,and as GF says this is a high beta stock, ,when the buying starts it should move up pretty quickly too ..

Oil spike upwards may give us a good day tomorrow.

cheers GF.

An excellent update - just what we have been waiting for

Global Energy Development PLC
27 October 2005


Immediate Release 27 October 2005

GLOBAL ENERGY DEVELOPMENT PLC

POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF NEW WELL WITHIN LOS HATOS
CONTRACT

LOS HATOS CONTRACT PROVIDING AN EXTENSION OF THE ESTABLISHED
PALO BLANCO FIELD

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce positive test results from its first exploratory well on the
Los Hatos Exploration and Production Concession Contract area in Colombia,
namely Los Hatos 1.

The Company perforated and tested the Mirador formation of Los Hatos 1 at a
maximum rate of 408 bopd and 700 mcfd with a total maximum rate of 525 boepd of
36 degree API gravity oil. BS&W was only 3%.

Los Hatos 1 will be placed on continuous production in seven days and means that
the Company will have production from five different contracts in Colombia in
addition to holding high-potential exploration acreage positions in Colombia,
Peru and Panama.

The Los Hatos Contract, which was signed in November 2004 and in which Global
owns a 100% working interest, covers 85,000 acres located in the central Llanos
region of Colombia and is adjoined to the Company's established, producing Palo
Blanco field within the Alcaravan Association Contract. The Los Hatos Contract
is subject only to an initial 8% royalty, with the size of the royalty to be
determined by future production levels.

Commenting on the Los Hatos 1 well, Stephen Voss, Global's Managing Director,
said:

'The success of the Los Hatos 1 well within the Los Hatos Contract area has
effectively extended the established, producing Palo Blanco field further to the
south and will bring to five the number of producing contracts the Company
holds. The supplementary production will be important to the Company's cashflow,
which funds workovers and development drilling and exploration activities.

Finding and producing oil in the Mirador formation is especially encouraging as
this formation is producing commercial hydrocarbons from Estero 2, the most
northerly well within the Palo Blanco field, and now Los Hatos 1, the southerly
extension of the Palo Blanco field.

The Company will promptly undertake additional geologic and engineering analysis
to assess the potential additional Mirador reserves throughout both the Los
Hatos and Alcaravan contracts.'

Hi all, great news today on new strke
the sp sould now follow.
Hold on tight a lot more
all the best
HUSTLER

Very pleased ,that's set it on fire.

Storming news just look at those buys coming in. And remember the first of many such news articles, 8 quid here we come.

cheers GF.

Don't usually hear from you this early GF .

No I know but I got a quick siteing of this and its brought me back to life after 3 lousy weeks in the market. When youve got it in these markets flaunt it I say LOL.

Global Energy finds oil in Colombia's Los Hatos field
AFX


LONDON (AFX) - Global Energy Development PLC said it found oil in the first exploratory well it drilled in the Los Hatos field in Colombia.

The hole, known as Los Hatos-1, flowed at a rate of up to 525 barrels of oil equivalent per day after it struck the Mirador reservoir.

It will be placed on continuous production in seven days, said Global Energy, which owns a 100 pct stake in the Los Hatos contract.

'Finding and producing oil in the Mirador formation is especially encouraging as this formation is producing commercial hydrocarbons from Estero-2, the most northerly well within the Palo Blanco field, and now Los Hatos-1, the southerly extension of the Palo Blanco field,' said managing director Stephen Voss.

mbe/bam



cheers GF.

:~) Yep it has been rather boring to say the least.

Never mind Jimmy I think things are going to get better. ............ gulp.

cheers GF.

At least this is up ,BUR etc have gone the other way for a change..GF you don't usually make price predictions ,so when you say 8 ,are you looking at one year ,18 months ??

Its up above Jimmy a link to the research note from equity development, its about 15 pages and they have even upgraded. If you cant find it let me know. Either here or by PM.

cheers GF.

Thanks GF ,i'll have a look..

Global Energy Development PLC
27 October 2005



Immediate Release 27 October 2005

GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY


Global Energy Development PLC (the 'Company') was today notified that Harken
Energy Corporation, a Delaware corporation, holds 11,892,922 ordinary shares of
1 pence each in the Company, representing 33.78% of the Company's issued share
capital.

Anyone know if this is a buy/sel?

Gavin
Harken have been reducing thier holding
for some time from around 75%
to make the stock more liquid, this is probaby
near the end of thier disposals
which should be taken as good news,
as still a major stakeholder and liquid enough
to make a market. Will still be volitile
but news like today will only strengthen the case
for the sp to go higher in time, a lot higher.
All the best
HUSTLER

Spot on Hustler.

Hope you are doing well.

Cheers GF.

One of the main reasons for Harken reducing their stake was that until Harken's stake dropped below 40% Global would have to pay both British and American tax. Now they only have to pay British tax.

Sorry wrong thread.

Good information poacher
This again should be taken as very good news
as it would have been in the price,
be interesting to see how the sp responds.
All the best
HUSTLER

Thanks Gents.

Spot on poacher never thought of that angle.

cheers GF.

Two brokers still have it as STRONG BUYs.

cheers GF.

Latest news on the Brokers front. One with a stong buy and the other with a Buy. No doubt the fall in oil prices as to do with that but you can bet come an awfull winter which is looming, oil prices will just boom.

anyway here it is.....

Little snippet from today's Daily Telegraph - "Peter Hitchens, oil and gas analyst at Teather & Greenwood likes Global Energy Development, worth 278p, which last Thursday announced it had found oil in its first exploratory well in Columbia. Teather and Greenwood is house broker to the stock and has a 330p price target and a buy rating"


cheers Gf.

Lubey Jubbly GF.
Got to be in it to win it
forget the brokers, 6.00 is safe,
higher is real, given 12-18 months.
regards
HUSTLER

Yup spot on Hustler and good news on the financial front this morning. I just love the way they have raised this money..

Global Energy issues 12.5 mln usd convertible notes
AFX


LONDON (AFX) - Global Energy Development PLC, the AIM-listed petroleum producer, said it has raised 12.5 mln usd via a convertible notes issue due in October 2012.

The notes, which were issued to a Swiss-based fund manager, carry an annual coupon of 5 pct for the first three years, 6 pct for the next two years to October 2010, and 7 pct thereafter.

They are convertible to shares at a price of 305.8 pence per share, representing a 10 pct premium to Global Energy's closing mid-market price on Oct 28.

Proceeds from the fundraising will support the group's accelerated drilling programme in Colombia and Peru, said managing director Stephen Voss.

newsdesk@afxnews.com

mbe/nes

cheers GF.

Back in the Zone, moving up nicely.

cheers GF.

Steady move up 3% today GF,
on a flat market. It shouldn't take
long before the positive news of late
sinks in and then we should see a much more
positive move upward.
All the best
HUSTLER

Spot on mate.

cheers GF.

Yanks ahead again tonight GF.
Nas up 1.4%, hope to see gains across the board
tomorrow, be nice to see GED move heavy.
Good to see October out of the way most growth stocks
have been hit hard, the Aim market is now out of sink
with the majors and is ripe to catch up.
All the best
HUSTLER

Yes Id agree there. Small caps have had a real tough time. Fingers crosse we now be onto something.

cheers GF.

Mention of GED in the Small Caps commentary in the Times - as a debut buy recommendation by Bridgewll Securities....

Baza.

Nice spot Baza.

cheers GF.

Oil price set to return to highs and above in late December.

Good news for us in GED.

cheers GF.

Only put the heating on this week GF,
and still mild down south. When Winter sets in proper
demand will soar, not good news for the economy in general
but good for oil based stock. GED will still stand out from
the crowd as a top performer within the next 12 months
i am sure whatever the weather, far to cheap.
All the best
HUSTLER

You got heating !! - u guys must be soft down south

LOL Baza

We are Baza
like to be cozy
log fires mulled wine and all that.
Oh and cheers to our future sucsess
with Ged in anticipation.
All the best
HUSTLER

Nice little tick up.

cheers GF.

Global Energy Development PLC
11 November 2005


Immediate Release 11 November 2005

GLOBAL ENERGY DEVELOPMENT PLC

OPERATIONS UPDATE

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), announces
that Harken Energy Corporation ('Harken'), a Delaware corporation and holder of
33.78% of the Company's issued ordinary shares of one pence each, has filed with
the Securities and Exchange Commission of the United States its Quarterly Report
on Form 10-Q for the quarter ended 30 September 2005.

Harken's Form 10-Q includes certain financial information, on an United States
GAAP basis, with respect to the Company's operations. As at 30 June 2005 and 30
September 2005, Harken held 62.36% and 34.02% respectively of the Company's
issued ordinary shares of one pence each. Under United States accounting and
legal regulations, Harken was required to consolidate Global's operations in
Harken's financial statements for the period ended 30 September 2005. Global
announces its financial results on an U.K. GAAP basis and hence the stated
financial results contained in the Form 10-Q differ from those Global reports.

Reported within Harken's Form 10-Q, Global's net production for the nine months
ended 30 September 2005, after all royalities and production attributable to
Ecopetrol, was approximately 367,000 barrels of oil which exceeded Global's net
production for the whole of 2004 (year ended 31 December 2004: 365,527 barrels
of oil). Global's average oil price increased 39% to $49.33 per barrel during
the third quarter of 2005 compared to $35.48 per barrel during the third quarter
of 2004. The higher price received was due to improved terms from the PetroBras
crude oil sales contract signed in April 2005 and effective from May 2005 and
the prevailing oil price.

Global has also exercised its exclusive option to commence negotiations with the
National Hydrocarbons Agency of the Republic of Colombia ('ANH') to convert a
portion of its Valle Lunar Technical Evaluation Agreement ('TEA') acreage into
an exclusive Exploration and Production Concession contract. Global anticipates
executing this contract before the end of 2005 whilst continuing to hold the
remaining TEA acreage. Global has taken the decision to convert a portion of the
TEA acreage early to accelerate development related activities relating to
existing wells and acreage that featured oil tests in the 1980s.

Good news that Baza in columbia.

cheers GF.

Oil: Higher after recent decline
Mon 14 Nov 2005

LONDON (SHARECAST) - Oil prices revved a little bit higher on Monday after its recent decline to a 4-month low on the back of bigger than expected stockpiles.

Government data showed US crude stocks rose 4.5m barrels to 323.6m barrels after strong imports last week.

This took inventories to around 13% over last years levels. US light crude oil closed up 16c at $57.69 a barrel.

cheers GF.

Hi GF
Stocking up is good but it will be used up,
what's the cost to replace going to be that
is the question, holding tight
hard winter predicted.
Economy will suffer and we will all pay
but cheap fuel is a thing of the past
only a matter of time before Ged catches up
price target 8.00 plus 12 months.
All the best
HUSTLER

May add a few more then hustler.

cheers GF.

Would be nice if it went back up .

Looks like buys bigger than sells.

cheers GF.

Doesn't look like that to me today GF
Edit , most of the trades are MM's ?

Your right Jimmy later on.

Getting a bit worried about the Money am data, news comes out like for SMC yesterday but no log up on my portfolio, so i missed it and see it today.

Well its free but im going to have to look at the uk wire thread everyday from now.

Nb, I dont use level 2 and never have done. Being medium term to long term I see no use of the service. Some times though because I know a lot of snitches in this business look out for quick fire sure opportunities.

cheers GF.

Hi GF
Bloody freezing down South heating on all day
for the first time this year, Kids still had the fire on
as well. We may see a blip in price short term but
energy stocks will prosper in general mid to long term.
All the best
Hustler
ps
have a look at Bristol water & British energy
both look interesting.

Yes British Energy the fortgotten one. Cheers hustler.

GF.

We seem to be eroding away a few pence every day for no good reason .

Again a 2p drop on no volume.

Good news

Global Energy Development PLC
23 November 2005



Immediate Release 23 November 2005

GLOBAL ENERGY DEVELOPMENT PLC

NEW CONTRACT APPROVED IN COLOMBIA

LUNA LLENA CONTRACT WITHIN VALLE LUNAR ACREAGE

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce it has received approval for a new exclusive Exploration and
Production Concession contract with the National Hydrocarbons Agency of the
Republic of Colombia ('ANH') following electing to convert a portion of its
Valle Lunar acreage held under a Technical Evaluation Agreement ('TEA').

The new Luna Llena Contract, one of six contracts Global now holds in Colombia,
covers 369,000 acres within the approximate 2.1 million acre Valle Lunar TEA
located in the established Llanos Basin of eastern Colombia.

The Valle Lunar TEA, signed in May 2005, grants Global the exclusive option to
convert any of the acreage into a contract or contracts prior to or at the TEA's
conclusion in October 2006.

The early conversion of the Luna Llena Contract reflects the Company's wish to
accelerate its work programme on this selected area due to the management's
belief that the opportunity to develop substantial medium heavy oil reserve
potential is significant.

Since Global signed the Valle Lunar TEA, the Company has conducted Landsat
analysis of the acreage which yielded a considerable amount of surface data,
particularly within the Luna Llena area, that can be utilised in subsurface
interpretation. In addition, the Luna Llena acreage contains the identified El
Miedo field which has substantial well tests and subsurface geologic control
that was acquired by two international oil companies in the 1980's from an
extensive drilling effort conducted by them. Oil production tests were
successful at this time. Global has already completed engineering and geologic
studies on the El Miedo field.

Global will own 100% of the Luna Llena Contract subject only to an initial 8%
royalty, with the size of the royalty to be determined by future production
levels. The Contract duration is 30 years divided into an initial six-year
exploration phase and a 24 year exploitation and production phase. Under the
terms of the Luna Llena Contract, Global must within 18 months acquire 165
kilometres of 2D seismic, reprocess 500 kilometres of existing seismic, re-enter
and test one existing well and drill two exploratory wells which cover the total
geologic column. Global can then elect, if it so wishes, to proceed to phase two
which also covers 18 months and requires re-entering another existing well or
drilling another exploratory well. Phases three to five, all optional, are each
12 months and require the drilling of an exploratory well in each phase.



The Company anticipates the potential deposits within the Luna Llena Contract to
be at shallow depths requiring relatively modest costs and enabling more rapid
drilling. In addition, shallower wells should help surmount any rig availability
issues to a certain extent as smaller rigs are more readily available.

Global will continue to hold the remaining Valle Lunar TEA acreage and conduct
further geologic analysis and geophysical tests over the next several months,
fulfilling all the associated work obligations, with a view to potentially
contracting more of the acreage.

The costs incurred under the required work programmes for both the new Luna
Llena Contract and Valle Lunar TEA will be met by cashflow from existing and
near-term production from the Company's five productive contracts in Colombia.
Commenting on the new Luna Llena Contract, Stephen Voss, Global's Managing
Director, said:
'We are intent on rapidly accelerating our exploitation activity in the portion
of our Valle Lunar acreage known as Luna Llena due to the tremendous potential
we consider it presents.
Two international oil companies drilled a number of shallow wells in the 1980s
within Luna Llena to a depth of approximately 3,000 feet which delineated what
is now known to be the El Miedo field. Oil production tests were successful but
the opportunity was deemed non-commercial at the time due to low oil prices.
We are now finalising our plans for new drilling in the El Miedo field in the
second half of 2006. In addition, we believe the Luna Llena and Valle Lunar
acreage outside of El Miedo holds other prospective opportunities and we will
conduct further analysis and tests over the next several months with a view to
contracting further acreage.'

Good news again. Should rise when the Oil Price goes back up again.

cheers GF.

Its about time this one woke up again.

cheers GF.

Trading statement due today GF ..

Only up 0.5 on the drilling update, i sold out of these monday.

aldwickk , i never expected riches overnight with these, ,but they have been a bit boring lately ..

Global Energy starts rig mobilisation to Tilodiran 2 well in Colombia
AFX


LONDON (AFX) - Global Energy Development PLC said it has started rig mobilisation to the Tilodiran 2 exploratory well in the Rio Verde Exploration and Production Concession in Colombia.

Global expects to spud Tilodiran 2 in mid to late December.

Managing director Stephen Voss said: 'The rig mobilisation to Tilodiran 2 at this time represents an acceleration of the work programme required under the terms of the Rio Verde contract which specifies that the company must drill the first exploratory well during phase two which does not commence until May 2006. We look forward to quickly progressing this well.'

newsdesk@afxnews.com

ra

Im holding on. These have the potential to suprise when you least expect it.

Am still holding SOCO at a very large gain and have a shed load of Victoria after Evil K alerted me to their potential but think they are speculative so its hit or miss with them, hit could be superb, miss could mean most money being lost. Ill take my chances with them and they are my one yearly gamble being a dour investor normally.

cheers GF.

glad to see your dour on these GF :-))

Well I'm in here for the long term.........one of my safer investments which I intend to hold for a few years yet, though I did take profits just before the recent decline (not through good judgement, purely luck!).

Not exiting at the mo but what I like most about GED is a favourable P/E,good growth to date, no debt and huge upside potential.............not easy to find such companies.

Yes the fundies are really appertising.

cheers GF.

Couple of nice size buys today,four tiny sells ,and we are down a penny ????

Looks like a lot of small caps down Jimmy.

Hoping last week in December and January we get a rally going.

cheers GF.

Yes but this share stays down when the small caps go up.

Hi all
have supported for a long time
but have to say losing confidence,
and it is not surprising the sp has dropped over 25%
from it's recent high - granted aim has dropped but
more important.
broker forcast has reduced eps from 36p at 10/10
to 22p 17/11
and ptp from 8.2m 10/10
to 5.3m 17/11.
Moved to red alert i hate to sell as we all do
but if broker forcasts do not improve imminent,
out of here sorry. I still believe it has a lot more to offer
but you have to protect your profits
some times

regards
hustler

HUSTLER ,down 6.5p today ,why ?? and it doesn't seem to bounce back, i'm also losing patience.

Thats enough for me too i'm out .down another 15p on very small sell volume..

Blimey, look at the price fall. Keeping my nerve for the moment.

cheers GF.

Good time to buy back in if you have the funds ??

Fundamentals still good

RSI on the charts looks under cooked aswell.

cheers GF.

Could do with an update here.

cheers GF.

And we got the update. Contract wins near term.........nice.

Global Energy opens Peru office, anticipates contract wins
AFX


LONDON (AFX) - Global Energy Development PLC will open a subsidiary office in the Miraflores district of Lima, Peru.

The office has been opened in anticipation of the company securing additional contracts in Peru in the near-term.

Global Energy is actively working on securing two new contracts in Peru and expects to sign one or both of these during the first half of 2006 and then look to further add to these.

newsdesk@afxnews.com

cheers GF.

Worth noting that the company trades on an historic P/E of 19 to Dec 2005 but the forward P/E is a lowly 11.6 to Dec 2006. PEG 0.1.

Far lower than most Oil producing small caps.

cheers GF.

Hi Goldginger
I am trying to understand better your calcs. If the current price is say 270 and the forward P/E is 11.6 ( and how do you arrive at that?), then the price, to continue on P/E of 19 would need to be adjusted to 442. Is this the correct way to work it out using relational cross multiplication?

Earnings Per Share forecasts PB. Taken from Digitallook.com

For Dec 2005 EPS concensus forecast is 13.52p divide by SP 270p = 19.9

For Dec 2006 EPS concensus forecast is 24.17p divide by SP 270p = 11.7

If you were looking for a figure of 442p just divide the forecast EPS of 24.17p into this and you have a P/E of 18.28.

Your on the right lines.

I hope that helps but also remember Oilys and mining stocks are often valued by the premium or discount to Nett Asset Value - NAV. Or Nav per share. I beleive this one is trading presently way below the nav per share of 2008/2009 of something like 8 plus . Please see first few posts at the top of this thread.

Very good value to my mind, but Im getting very concerned about over heating in the sector. A lot of small exploration companys are trading well above their NAV value. Theres an inverse relationship between optimism and liquidity. I think we may only be months away from the top of the market so beware.

You can also tell by the number of hypers on most of the oil threads on the other big board. What they dont understand is that just because market prices for Oil etc are high and getting higher they feel that Oil stock will continue to rise which is wrong. The consumer market for Oil should be seperated from the equity market for oil stocks.

At some stage investors get to a point whare they are low on liquidity (high on optimism) in other words they are more or less fully invested with no more money or credit left to put in the sector. The next stage is usually whats the 'next big thing' selling develops and then panic steps in and we have a stampede. The market capitulates and people get burnt.

A big thanks for that GF Up to now GED hasnt really acompanied this trend, and seems to be really good value, and they are producing and with results. If there is a stampede, do you think this kind of share will hold up even with its high discount to NAV?

PB I think it will be hit like all others in the sector. But if you are a long term investor like myself (usually) it should recover and growth will continue.

cheers GF.

What is wrong with this share? Fundamentals seem right but just getting weaker on price rapidly. Really would like some information as to why the price continues to fall.

Nothing really, just the high beta that effects it.

Im holding for the long term.

cheers GF.

scimitar
I loved this one but got out
because nms is to low,
the story remains the same booming sector but
to many other stocks doing the bis and easy to
deal in, think of the herding instinct.
When the sector cools off this one will have
its day its a good one longterm in the meantime forever watching.
All the best
HUSTLER

This share and Angle(ANG).... are good value shares... good money to be made

Good news.

Global Energy 'encouraged' by Tilodiran 2 exploratory well data in Colombia
AFX


LONDON (AFX) - Global Energy Development PLC said it is encouraged by initial data from drilling on the Tilodiran 2 exploratory well in the Rio Verde Exploration and Production Concession contract in Colombia.

'Initial petrophysical analysis of the available data obtained from the open hole is considered by the company to be encouraging and Global is now proceeding to complete and test more than one potentially oil productive zone,' it said.

The Tilodiran 2 well was drilled to a final depth of 13,350 feet.

'The Tilodiran 2 well has been directionally drilled successfully to intercept five potentially oil productive formations,' managing director Stephen Voss added.

The company said it may be several weeks before the final results of the drilling are known.







newsdesk@afxnews.com

jc



cheers GF.

Excelent results this morning.....

Global Energy FY pretax rises to 9.3 mln usd vs 5.35 mln, sales up 74 pct
AFX


LONDON (AFX) - Global Energy Development PLC reported a rise in full-year pretax profits to 9.3 mln usd from 5.35 mln a year earlier and sales rising to 19.04 mln usd from 10.97 mln.

The AIM-listed petroleum exploration and production company with focus on Latin America said the extensive prospects already secured, and all 100 pct owned by Global, should enable the company to continue to prosper and grow.

The proved plus probable reserves replacement ratio for the year to end-Dec 2005 was approximately 327 pct.



newsdesk@afxnews.com

lam

cherrs GF.

Anyone know what's going on - these seem to be flying - whats the story guys?

Wow...this is rocketing - 2.98now...too bad I'm not in GED...good luck guys! Hope it goes up further.

Very bullish and in depth article in the 'THE FLEET STREET LETTER' from the 25th - concludes - "In short, the powerful effect of higher production, probable reserve additions and $60 oil leads us to conclude that GED could reach 400p by end 2006. The drop from 346p offers a fantastic opportunity to snap up LatAm oil reserves
on temporary weakness. BUY"

Yipee, glad I held the faith, what a cracking rise up on the back of the tip.

cheers GF.

And going on a nice run up this morning.

cheers GF.

It is time. I am glad I held on to GED, even at a loss for a long time, and now beginning to look up It again proves that great value and patience will eventually be rewarded. Thanks GF for this post

Yup you have to be really patient in this business. Moving up nicely again.

Dont forget to take profits along the way, top slicing and lopping the top.

cheers GF.

GF - I am only a small investor, and not in the league of most. If I top slice, I will be left with virtually nothing. I only have 1500 shares in GED. I am confident about GED's prospects, so for now will hold untill I feel there is a turn, or has reached saturation. Based on my holding, do you feel I am on the right thinking path, or should I still Lop. I had bought the 1500 some time ago at 276 and later bought another 1000 at 233. Soon sold the 1000 at 246 to reduce my breakeven on the 1500. I dont normally average down, but with GED I just felt the need to ( maybe out of frustration and knowing there was value there ).
Regards
PB

paperbag
Within the next two years this share should motor. Can you name any other share which is going to have such a high capital expenditure? There will be no dividends but the capital return should be great.

I agree with that. I just like to take profits to make sure I lock the gains in.

cheers GF.

When you find a good share the investors that make the most money are the ones who are prepared to wait for the profits the profits to materialise.

I should have said take some profits along the way. Appology.

cheers GF.

Why the rise today ?

Further upward momentum from shares mag tip?.

cheers GF.

With reference to Gavinwood's post 325. The fleet Street Letter is mentioned.
I would like to know how I can get in contact with them. ( tel, mail, e-mail whatever). I once subscribed to the fleet street journal. Only one copy was ever mailed to me, and ended up with RHPS being delivered ( and precisely what I didnt want), I assume there may be a connection.

Cheers PB

Further move up today.

cheers GF.

Moving over 3 hope so.

cheers GF.

GED attacking that 3 mark again.

cheers GF.

6 April 2006

GLOBAL ENERGY DEVELOPMENT PLC



NEW CONTRACT SIGNED IN COLOMBIA

LOS SAUCES CONTRACT WITHIN LLANOS BASIN


Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce that it has signed a new exclusive Exploration and
Production Concession contract for the Los Sauces area (the 'Los Sauces
Contract') with the National Hydrocarbons Agency of the Republic of Colombia.
The Los Sauces Contract brings to eight the number of contracts Global now holds
in Colombia in addition to a Technical Evaluation Agreement, all of which are
100% owned by Global.


The Los Sauces Contract covers approximately 61,600 acres in the Central Llanos
region of Colombia where Global already has three contracts, namely the
Alcaravan Association contract and the Rio Verde and Los Hatos Exploration and
Production Concession contracts. The Los Sauces Contract is contiguous with the
northern boundary of the Rio Verde contract where the Company is currently
testing the Tilodiran 2 exploratory well, with one zone having produced at a
natural flow rate of 1,125 bopd plus gas, and is also located nearby and
adjacent to the established, producing Morichal and Tocaria fields operated by
an international oil company.


Global will own 100% of the Los Sauces Contract subject only to an initial 10.5%
royalty, with the size of the royalty to be determined by future production
levels. The Contract, effective from 31 March 2006, has a principal term of 30
years divided into an initial 6 year exploration phase and a 24 year
exploitation and production phase. Under the terms of the Contract, Global must
within 12 months reprocess approximately 200 kilometres of existing seismic,
acquire and process 50 kilometres of 2D seismic and drill one exploratory well.
Global can then elect if it so wishes to proceed to phase 2, 12 months in
duration, and drill one exploratory well. Phases 3 to 6, also all optional and
12 months in length, require the drilling of an exploratory well in each phase.


The Los Sauces area has been subject to prior drilling activity by an
international oil company over 10 years ago at which time the La Totuma 1 well
was drilled with reported oil shows. Based upon the existing formation and
seismic data, Global has elected to position and drill an exploratory well
geologically updip from the existing La Totuma 1 well and expects to do so late
in the second half of 2006.


Cash flow from Global's productive contracts in Colombia is anticipated to fund
the required work programme with Global currently projecting total capital
expenditure in 2006 to be approximately $23 million.

Commenting on the new Los Sauces Contract, Stephen Voss, Global's Managing
Director, said:

'Los Sauces, together with drilling at Rio Verde, the Bocachico-Torcaz field
improved recovery CO2 Project and the Bolivar improved recovery methane gas
injection project, represents one of Global's lower-risk 'bridge' projects that
are intended to ramp up near-term production and strongly grow cash flow.

Global proposes to accelerate its activity on the Contract area above that
required under the terms of the Contract as the management team consider the Los
Sauces area to offer relatively predictable drilling with high daily production
rates.

The fore-mentioned 'bridge' projects should enable the more rapid execution of
Global's high reserve potential opportunities at Caracoli and Luna Llena in
Colombia, Block 95 in Peru and Garachine in Panama through providing a much
increased capital expenditure budget.'

Excelent news and the price as nudged up as a result.

cheers GF.

Moving up nicely this morning.

cheers Gf.

Good news...

Global Energy announces positive test results from Tilodiran 2 well
AFX


LONDON (AFX) - Global Energy Development PLC announced positive test results from its Tilodiran 2 exploratory well on the Rio Verde area in Colombia.

'We are extremely pleased with the results of the Tilodiran 2 well production test,' said managing director Stephen Voss. 'The well shows preliminary evidence of very significant oil deliverability that will have a considerable impact on the company's production volumes and revenues.'

The company currently estimates a stabilized oil rate at the minimum possible pump speed to be approximately 1,100 barrels of oil equivalent per day (boepd).

The company's recent gross production, prior to the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.

It intends drilling another well in the Tilodiran field later in 2006.

Global's net interest in the Tilodiran 2 well is 89.5 pct.





newsdesk@afxnews.com

jc

GF
Another day and another shake up, It is a little frustrating, but there are now great buying opportunities, GED being one of them. With any extra production comming on line, the fundamentals will look even better.
Some smart buyers of GED today with end-of-day trades fairly sizeable.

Regards
PB

Still in but ive sold some of my earlier tranches.

Long term outlook looks fine.

cheers GF.

what is happening to this one, all the way done it seem. looking gloomy.

very gloomy for GED

Have we moved to another thread?

More gloomy news today...GED drop to 150p as production dropped.



Global Energy Development PLC
16 November 2006


GLOBAL ENERGY DEVELOPMENT PLC

OPERATIONS UPDATE

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is today providing an update on its operations.

In order to actively manage reservoir conditions of the Tilodiran field the
production rate of the Tilodiran 2 well has been voluntarily restricted over the
last two months to 750 barrels of oil per day ('bopd') and this restriction will
remain in place for the remainder of the current financial year. In addition,
two successful workovers were completed later than expected and therefore began
contributing to production three months later than planned. As a consequence,
total production net to Global for 2006 is now expected to be in the region of
405,000 barrels of oil. However, daily production, net to Global, currently
stands at approximately 1,550 bopd, a marked increase on the average of 947 bopd for the six months ended 30 June 2006.

Capital expenditure for 2006 remains broadly on target at an expected $16
million total for the year, with cash flow from production continuing to cover
2006 contractual obligations. Capital expenditure for 2007 will be aligned to
operational cash flow from existing production and production growth from
additional wells planned for 2007.

Drilling of three delineation wells on the Primavera field remains largely on
schedule with rig mobilization having been delayed just over a month to the end
of December 2006 due in part to continued adverse weather conditions in the
Llanos Basin. Rig mobilization will take three weeks and the first well is
expected to be drilled and completed in early February 2007. It will be
followed in quick succession by two further wells and an extensive seismic
programme. It is expected that all these wells will have a positive impact of
the Company's production rates early in the second half of 2007. The drilling
of three delineation wells plus acquisition of 3D seismic as opposed to the
previously envisaged five delineation wells during the period should better
prove up reserves in the Company's opinion and a full development programme will commence on the Primavera field in 2008.

Two other wells originally planned for the first half of 2007, Los Sauces 1 and
Tilodiran 3, are both likely to be the subject of some delay. In relation to
the Los Sauces contract, the Company will fulfill the seismic acquisition and
reprocessing commitment with work beginning in January 2007. However, both
wells are liable to now be drilled during the second half of 2007 due largely to
a lack of availability of a suitable rig in Colombia. It is hoped that the same
medium-heavy rig once contracted will drill both wells back-to-back.

The Company is also assessing farm-out opportunities for a number of its longer
term exploration projects across its Latin America portfolio with the intention
of expediting progress on these projects through access to suitable drilling
rigs.

For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177


www.globalenergyplc.com
+44 (0) 7909918034





Notes to Editors:

Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: 'GED'). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ('TEA') in Colombia and a concluded exclusive TEA in Panama. Global's portfolio comprises production, developmental drilling and workover opportunities and several high-potential exploration projects.

Ryder Scott Company, LP ('Ryder Scott'), the Company's independent engineers,
reported that as at 31 December 2005, proved plus probable reserves ('2P
reserves') net to Global totalled 17.5 million barrels of oil and proved plus
probable plus possible reserves ('3P reserves') net to Global totalled 67.5
million barrels of oil. Based upon an approximate Brent Price of $58 per
barrel, this being the closing price as at 31 December 2005, Future Net Revenues
('FNR') for the 2P reserves net to Global totalled $621 million and FNR for the
3P reserves net to Global totalled approximately $2.8 billion.

Ryder Scott reported that as at 1 July 2006 the total risked, mostly likely case
recoverable barrels of gross resources for the Company's exploration properties
was 218.6 million barrels of oil equivalent.

Proven and probable oil and gas reserves are estimated quantities of
commercially producible hydrocarbons which the existing geological, geophysical
and engineering data show to be recoverable in future years from known
reservoirs. The proved reserves reported by Ryder Scott conform to the
definition approved by the Society of Petroleum Engineers ('SPE') and the World
Petroleum Congress ('WPC'). The probable and possible reserves reported by
Ryder Scott conform to definitions of probable and possible reserves approved by
the SPE/WPC using the deterministic methodology.

This information has been reviewed by Ryder Scott.

Well a poster on advfn seems sure news on the rig mobilization on the Primavera field
will be announced tomorrow. After the delays it will certainly be a welcome news.

They were right!!!

Global Energy Development PLC
23 January 2007


For Immediate Release 23 January 2007



GLOBAL ENERGY DEVELOPMENT PLC

RIG MOBILIZATION



Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce that it has commenced mobilization of a drilling rig to the
Primavera - Luna Llena field located within its Colombian Luna Llena Exploration
and Production Concession contract (the 'Contract') with mobilization expected
to take three weeks.



The Company intends to perform drilling and completion operations in three wells
back-to-back on the Contract area. The wells will be drilled to an approximate
depth of 2,550 feet with drilling and completion estimated to take 10 days per
well and each to be followed by a 10 day production test. These three wells are
intended to evaluate the hydrocarbon potential of the 'El Miedo' sandstone in
the upper Carbonera formation and will form the basis to assess a full
development drilling programme for the Primavera - Luna Llena field. The
Primavera - Luna Llena field, formerly known as the El Miedo field, was subject
to activity by two international oil companies in the 1980s that tested oil from
more than one well at that time.



For further information:

Global Energy Development PLC
Catherine Miles, Company Secretary +44 (0) 20 7763 7177

www.globalenergyplc.com

Anybody thinking of dipping in/adding to GED at the mo? Looks way undervalued with a 50% discount to NAV of around 250p. Looks like the fall since last May is down to delays.

holding at mo, waiting for news that should come in the next 2 weeks, as rig should be onsite, would be good to hear update to that effect.

The Llanos basin is more like the bermuda triangle when it comes to drill rigs... chp, ged not as slow as chp

Im in with a small investment. Don't know all that much about the company but can't resist that discount.

Next week promises to be good for both GED and CHP, particularly if the drilling depth is reached this w/e on GED's Primavera block and it is proved that the mgt were right to drill production wells straight off. CHP also have the prospect of some of any oil GED find, depending upon where it is in their block; CHP also has some other items of possible good news but they have stopped all leaks very recently so getting an reliable prior update is proving difficult.

good rise today

excuse me for being dense, but it seems unclear to me whether or not GED have actually found oil let alone in commercial quantities ..... if i am just being stupid, and a commercial well is about to start producing, why has the share price languished and even the rise on Friday was really not that exciting, especially when the spread seem to be 7/8p.

Cynic, I have little information about the ins and outs of the company and my investment is purely speculative. All I know about the current drilling programme is that it might add around 150p to NAV.

Chad, agreed. This looks too good to miss having a punt on, albeit as
you say speculative. There does appear to be an air of confidence
from the RNS imo

GLOBAL ENERGY DEVELOPMENT PLC



POSITIVE WELL TEST RESULT



Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce positive test results from its Luna Llena 2 well and an
encouraging outlook for its Colombian Luna Llena Exploration and Production
Concession contract.



The two key objectives of the two well Luna Llena drilling programme were to
determine the Carbonera C3 formation production capacity in the Luna Llena area
and to acquire additional data that could be used to assess field wide reserve
potential, identify an appropriate future data acquisition strategy as well as
assist in designing a field development plan.



The Luna Llena 2 well was drilled directionally to a total depth of 2,980 feet
to reach the 'El Miedo' sandstone in the upper Carbonera C3 formation. In the
Luna Llena 2 well, oil shows and oil stained cuttings were recovered in the
drilling process from the upper C3 'El Miedo' sandstone. Using nuclear and
resistivity measurement devices the 'El Miedo' sandstone was determined to be a
high porosity reservoir consisting of clean, well developed sands and favourable
calculated oil saturation. The oil saturation calculations and other field data
indicated the 'El Miedo' reservoir has the potential to flow a high percentage
of oil.



The downhole pressure measurements and fluid volumes recovered at the surface
during the initial test period of approximately one hour demonstrated a 15 foot
perforated section of the 'El Miedo' reservoir produced at the rate of 1,000
barrels of total fluid per day. Over an additional test period of 13 hours the
Base Sediment and Water ('BS&W') ratio averaged 55% with a low BS&W ratio of 8%.
The water recovered in the test was almost entirely drilling fluid indicating
the well was continuing to clean up due to the nature of the unconsolidated
formation.



Based upon data collected in these tests, the 'El Miedo' formation yielded a
well Productivity Index ('PI') which serves as a very encouraging indicator of
the potential production capacity of the Luna Llena 2 well.



The oil produced during testing was of a medium quality with an API gravity of
19 degrees and a sample of which is now undergoing laboratory analysis to
determine its complete characterization.



The Company now intends to appoint an independent technical consultant to
estimate the reserves associated with the Luna Llena property which will be used
to design a field development programme.



Commenting, Stephen Voss, Global's Managing Director, said:



'The measured reservoir productivity of the Luna Llena 2 well exceeded the
Company's expectations and demonstrates the El Miedo reservoir to be productive
and an attractive developmental opportunity. The Company will now integrate all
the data collected over the last two months in order to estimate the impact of
the delineation programme on future reserves and production. The Company is very
optimistic about the future of this property.'

Global Energy shares dive 37%
StockMarketWire.com

Latin American oil explorer, Global Energy was a major casualty in the market today as the share price crashed 43p to 72.0p in early morning trading - just over 37% lower than the market opening price.

The Group announced that it had plugged and abandoned the Rio Verde 2 exploratory well in the previously untested Rio Verde fault block of the Colombian Rio Verde contract

According to IC the company has been on a share buying spree of unprecedented scale. Since Nov 19 Stephen Voss managing director has had fewer than eight separate transactions and, in the process spent £202,000 now holding 323,000 shares. Also the chairman has spent £52,000 in the last few weeks, holding now 350,000 shares. Also a non executive David Quint has bought 12,500 shares.
Its easy to see why the insiders have turned bullish on the shares because on Nov 7 the board appointed Jefferies International to act as global energy's exclusive financial adviser in connection with a ''possible farm -out or disposal of a material portion of the company's interest in its Bolivar shale oil properties within the middle Magdalena valley in Colombia, South America''.

up 6%

Not in this one, put this on for those interested

2012 Annual Results
RNS
RNS Number : 9459A
Global Energy Development PLC
27 March 2013



Immediate Release 27 March 2013



GLOBAL ENERGY DEVELOPMENT PLC

(the "Company" or "Global")



AUDITED FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012



Global Energy Development PLC, the Latin America focused petroleum exploitation, development and production company (AIM: GED) with operations in Colombia, is pleased to announce its audited final results for the year ended 31 December 2012.

2012 Highlights

§ Turnover increased to $44.0 million (2011: $43.1 million).



§ Oil prices increased 3% averaging $98 per barrel ("bbl") (2011: $95 per bbl).



· Gross oil production decreased 5% to 492,000 bbls (2011: 519,000 bbls) due to certain down time of the Tilodiran 2 well.



· Sales of oil volumes increased slightly at 454,943 bbls (2011: 444,657).



· Gross profit decreased to $12.6 million (2011: $15.0 million) due primarily to the delay in the completion of the Rio Verde 2 water disposal well.



· Profit from sale of Block 95, net of tax, of $810,000 (2011: Nil).



§ Tax charge of $3.7 million primarily relating to write-down of the value of the Company's deferred tax assets following enactment of Colombian Tax Law 1607 in December 2012.



· Net loss of $2.12 million (2011: net income of $2.00 million) due primarily to higher water transportation costs and other operating expenses during 2012 along with the non-cash tax effect of Colombian Tax Law 1607 passed in December 2012.



Mikel Faulkner, Global's Chairman, indicated "The Company's 2013 focus is on bringing in a strategic partner to accelerate the development of its Middle Magdalena reserves and on continuing with the improvement of its strong cash flow from operations from its oil production in the Llanos Basin. This combination should hasten the realisation of greater value to the Company and its shareholders in 2013 and the future."

IC today - Awaiting news of a farm-out deal

Shares in Global Energy Development




(GED: 73p), the Latin America-focused petroleum exploration, development and production company with operations in Colombia, remain close to a major support level. At this depressed valuation the company is being valued at only £27m, or half net asset value of £52.8m.

This is partly due to the fact that the potential farm-out of a material portion of the company's interest in its Bolívar shale oil properties, located within the Middle Magdalena Valley in Colombia, South America, has taken far longer than planned. However, in a trading statement yesterday the company confirmed that it is continuing negotiations with parties. I still believe a deal will happen, and one that will spark an overdue share price rerating and a substantial one at that.

To recap, Global Energy is working together with investment bank Jefferies International to find a farm-out partner and guidance is for an announcement to be made by the end of September. The process of due diligence and hammering out terms can take time and, of course, the timing is subject to third-parties. However, it is realistic to assume that a farm-out will ultimately be achieved given the presence of high-quality operators in the area including oil majors ExxonMobil

(NYSE: XOM) and Royal Dutch Shell

(LSE: RDSA). Any disposal, or farm-out, will also highlight the chronic undervaluation of Global Energy's shares.



Seriously undervalued

This view is supported by analyst Andrew McGeary of broking house Northland Capital. Commenting on the trading update yesterday, Mr McGeary noted: "The Rio Verde water disposal well and more consistent production (last year Tilodiran-2 experienced 120 days of downtime) should significantly enhance this year's profitability as per our forecasts. The company remains inexpensive on earnings and robust given cash generation. On reserves metrics, the shares are exceptionally cheap and the Magdalena assets remain potentially high impact. We await further news as to the appraisal and farm-out prospects in Bocachico and Bolívar respectively."

For the current financial year to end-December, Northland expects Global Energy to produce revenues of around $45.8m, up from $44m (£29m) in 2012, but in the absence of the issues which dragged down profits in 2012, full-year pre-tax profits are expected to rise from $2.7m to $6.2m. On this basis, expect underlying EPS of 11.4¢, or 7.5p at current exchange rates. This means the shares are priced on a very modest 10 times earnings estimates and on less than half Northland's risked-reserves-based price target of 186p.



Catalysts for a rerating

True, the shares are well below my original buy advice of 103p ('Insiders major buy signal', 17 Dec 2012), but there are two major catalysts which could drive the price higher in the coming months.

Firstly, Global Energy is due to report financial results in late September. In my view, profits could have easily more than doubled in the first six months of this year. This will undoubtedly be seen as a positive by investors and can only highlight the undervaluation of the shares on an earnings basis as Northland estimates indicate. Secondly, any farm-out deal will highlight the value in the Magdalena assets and the unwarranted discount to book value the shares are trading on.

In the circumstances, I am comfortable reiterating my buy recommendation with Global Energy's shares priced on a spread of 70p to 73p. Moreover, I still believe that a target price of 140p is feasible.