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

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.