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

Good news as harken are selling down their stake and making the share more liquid................................


GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY


Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company, was today notified that
Harken Energy Corporation, a Delaware corporation, has sold a total of 900,000
ordinary shares of its holding in the Company's issued ordinary shares and now
holds 23,250,516 ordinary shares, representing 66.52% of the Company's issued
share capital.



For further information:

Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177

www.globalenergyplc.com


cheers GF.

Hi Gf
Good to see Harken reduce stake to 66%,
brokers have obviously been involved and advised
the board, seems to be working if more liquid the
price should rise. As it was the holding was unatractive
more like a close company, this now has platform to move
higher we hope from what we are told, a lot higher on
recent news.
regards
HUSTLER

Yup getting a head of steam up now Hustler.

cheers Gf.

Hi Gf
Thomas the tank engine is about to get a supercharger.
When fitted look out, 180 is daft, not speed but price
500 - 650+ where is Richard Noble what record Global thrust has arrived.
Compared to speed this has the scope to be a record breaker.
holding tight
HUSTLER

Cheers Hustler.

I see Harken have sold off more stock today, which means these are getting more liquid virtually by the day.

Global Energy Development PLC
22 June 2005


Immediate Release 22 June 2005



GLOBAL ENERGY DEVELOPMENT PLC


HOLDING IN COMPANY

Global Energy Development PLC (the 'Company'), the Latin America focused
petroleum exploration and production company, was today notified that Harken
Energy Corporation, a Delaware corporation, has sold 1,000,000 ordinary shares
of 1 pence each in the Company and now holds 22,250,516 ordinary shares,
representing 63.66% of the Company's issued share capital.




For further information:

cheers GF.

It's about to happen Gf.
Spread the word.
regards
HUSTLER

Will do.

cheers GF.

Going very well now and a lot more to come, please see the header refering to projected NAV.

cheers GF.

Really getting a head of steam on now. Difficult to get online but just give your broker a ring.

cheers GF.

And up again she goes.

cheers GF.

Broker advised that this stock only available as paper transaction.

Yup but it makes no difference with most Brokers, just give them a ring instead of using online facility.

Its moved up again I see. Looks like a stock shortage at the moment.

cheers GF.

Investors not being put off The Master, just ticked up again, now nearlly 11% on the day.

cheers GF.

Well its nearly 15% as I write - thanks GF for shareing your research on this and bringing this to our attention. Looks like you called it spot on.

Finished nicely. Lets keep it going next week.


cheers GF.

Hi Gf
only the begining
Harken sold of more stock good move
now we are about to have some fun.Hold on tight
all the best
HUSTLER

Cheers mate. It looks a good un. ( just look at the analyst report at the top of the thread, they are giving it away.) Think we could really earn some dosh here as the Adfvn boys havent a clue yet.

Just wait while they get hold of it. Should go through the rafters and I see this one as a real bouncer.

Yipee.

cheers GF.

PS, if you have access to Adfvn Hustler, why not bang out the Brokers note.

Cheers GF.

Hi guys,

Have been in at 175 level, i think I just miss the chance to top, isn't it?
many thanks and have a nice weekend.

Well done pui.

cheers GF.