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

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.