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

Well done pui.

cheers GF.

Cracking looking chart.



cheers GF.

Looks like we missed this report aswell.......................

10.06.2005
GED Boosts Its Latin American Portfolio By 70 Per Cent With New Acreage In Colombia

AIM-quoted Global Energy Development has boosted the acreage in its Latin American portfolio by 70 per cent with the signing of a new Technical Evaluation Agreement covering a whopping 2.1 million acres in the Valle Lunar area in eastern Colombia. The new acreage lies in the established Llanos Basin and has hosted previous exploration activity, with two wells producing medium gravity oil in 1981. The TEA lasts for 16 months, during which time GED must reprocess 800 km of 2D seismic and acquire an aeromagnetic survey over the area. The results of this preliminary survey work will hopefully lead to the signing of a long-term exploration and production concession contract for the acreage. The company hopes to undertake shallow borehole testing by late 2006.

Stephen Voss, GEDs managing director, said the area has a highly effective petroleum system with analogies to the heavy oil belt of Venezuela. It is an area of significant medium heavy oil reserves which is of a less expensive and technically straightforward class to extract, as substantiated by data already available, said Voss. We anticipate the potential deposits to be at shallow depths requiring relatively modest costs.

The initial work programme under the terms of the TEA is expected to cost some US$544,000, which will be funded from current cash flows. The company enjoys a revenue stream from its properties in Colombia, which produce around 2,200 barrels of oil per day.

The company is keen to grow this number without busting its low-cost strategy. It can do this by undertaking well workovers and infill drilling and by developing deposits that lie near its existing production facilities.

In March, for example, GED worked over the Canacabare-1 well in the Anteojos field, which neighbours - and is connected to - the companys existing Palo Blanco field. Both fields lie in the Alcaravan Contract Area. The workover increased production from the well from around 100 bpd to 198 bpd. GED is now looking for offset well locations for further developing drilling on the field.

The company has also moved quickly on its Rio Verde acreage, which it signed for in September 2004. Two existing wells in the contract area, Tilodiran-1 and Macarenas-1, were recompleted and brought on production in December 2004 and January 2005 respectively. Since then they have produced 48,000 barrels of oil. In the meantime, the company has kicked off a 56 km 2D seismic survey around the Tilodiran-1 and Macarenas-1 wells in order to evaluate drilling locations for further wells, with plans to drill Tilodiran-2 before the end of the year. The seismic will also stretch further into the Rio Verde acreage to identify possible exploration opportunities.

In Panama, Global hopes to finalise a contract later this year to explore three on and offshore blocks, including the Garachine Block Area which lies within 100 miles of the strategic Panama Canal. This is a historic oil area, with several shallow onshore wells finding good oil shows in the Mid Miocene back in the 1920s. More recent offshore seismic exploration in the eastern Gulf substantiated this potential.

GED is also active in Peru and last month announced that it had accelerated its plans for Block 95 in the Maranon Basin in the northeast of the country. This block includes the Bretana field, which was discovered in 1974 with the successful test of the Bretana-1 well, which flowed 800 bpd of 18-degree API gravity oil. Global is keen to get to grips with this heavy oil deposit and has signed up a seismic contractor to acquire an aeromagnetic survey over the acreage. It also plans to acquire the 4,800 sq km of micro-magnetic geophysical data specified by the contract ahead of time and then proceed to drilling on the Bretana field in late 2006 or early 2007, to be followed by an exploration well in late 2008.

Despite this acceleration of its plans in Peru, Global is taking a cautious approach to growing its portfolio. It focuses on countries with generous fiscal terms - Colombia and Peru offer some of the most attractive terms in the industry - and prefers to sign up for low-cost entry positions (known as technical evaluation agreements) that allow it to scout out a blocks potential before committing to expensive seismic and drilling work. The company steers clear of blue-sky exploration and favours projects that can be quickly monetized through low cost drilling, workovers and tie-ins.

Its adding up to a nice little business in an industry-friendly region yet the stock often flies below the radar of many investors. Spun out of US oil outfit Harken Energy, liquidity is a problem as the Texan firm still holds around 85 per cent of the stock. Addressing this issue could pave the way for making this growing company more attractive to would-be investors. ENDS.

Well we know the liquidity problem is being sorted out. Harken now hold around 65% of the stock.


cheers GF.

shouldnt you also look at een who are ged's neighbours and not at all demanding valuation with big news due in july

Looks like we have a tree shake this morning. Never mind the trend is obviously upwards.

cheers GF.

Investors buying on the pullback.

cheers GF.

Down despite buys being very much larger than sells.

Well might aswell award the game to MilwaLL despite being socked 10 nil.

PATHETIC.

cheers GF.

Hi Gf
Fret not 17% gain on Friday.
Markets battered today
only 9% rises against 22% losers.
Last close gainers battered most overalll,
we will survive and be a lot higher come the fall.
Remember we are in the funny season at the moment.
regards
HUSTLER

Cheers mate.

GF.

Come on Guys, this should make you buy the shares and as yet untouched by the B/B herd. LOL.



cheers Gf.

GF what do you think of een who are ged's neighbours in the llanos basin
IMHO een well undervalued at 90m when next full year results could give 10m profit mad isnt it .

Hi Gordon,

it looks rather promising at the moment, but I have ordered the company report and then I will see the full accounts.

Hoping its really good but please remember I go for value stocks. No matter what.

Will be back in touch.

cheers GF.

GF while your looking for undervalued stocks check out PWR its also not on anyones radar in my opinion and think will be tipped by shares mag soon ?

Nice to see this one moving back up to recent highs.

cheers GF.

A small fall today, but big big news coming up.

cheers GF.

Hi Gf
Still near its high
this one has only one way to go
higher & higher & higher
hold on tight.
Wishing well.
HUSTLER

Cheers Hustler. Heres a bit of news..................

Global Energy Development PLC
06 July 2005




Immediate Release 6 July 2005





GLOBAL ENERGY DEVELOPMENT PLC

HOLDING IN COMPANY



Global Energy Development PLC (the 'Company'), the Latin America focused
petroleum exploration and production company (LSE-AIM: 'GED'), was notified on 4
July 2005 by The Bank of New York Europe Limited on behalf of Merrill Lynch
Investment Managers Limited that Merrill Lynch Investment Managers Limited as
discretionary managers of Merrill Lynch International Investment Funds ('MLIIF')
European Opportunities Fund has an interest in 1,052,192 ordinary shares of 1
pence each of the Company, representing 3.01% 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.

Moving up this morning, still WAY undervalued.

cheers GF.

Just catching breath before
the next surge forward GF.
Have a look at it's chart,
we are on board that is all that
matters at present, it's just a waiting game.
all the best
HUSTLER