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.....................

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