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

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.