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

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.'