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GLOBAL ENERGY DEVELOPMENT Well Undervalued And As Yet Untouched By The B/B Herd (GED)     

goldfinger - 28 Apr 2005 16:19

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

p.php?pid=legacydaily&epic=GED&type=1&si

gordon geko - 29 Jun 2005 14:39 - 74 of 367

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 .

goldfinger - 30 Jun 2005 00:25 - 75 of 367

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.

gordon geko - 01 Jul 2005 09:44 - 76 of 367

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 ?

goldfinger - 01 Jul 2005 11:48 - 77 of 367

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

cheers GF.

goldfinger - 05 Jul 2005 23:53 - 78 of 367

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

cheers GF.

HUSTLER - 06 Jul 2005 00:31 - 79 of 367

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

goldfinger - 06 Jul 2005 11:51 - 80 of 367

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.

goldfinger - 08 Jul 2005 09:48 - 81 of 367

Moving up this morning, still WAY undervalued.

cheers GF.

HUSTLER - 08 Jul 2005 20:21 - 82 of 367

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


Andy - 08 Jul 2005 23:49 - 83 of 367

GF,

can you please put a 1 year chart in the header?

TIA.

goldfinger - 11 Jul 2005 11:27 - 84 of 367

Done Andy. Hustler not much ativity here today. Seems to really move up on news flow.

cheers GF.

Andy - 11 Jul 2005 13:31 - 85 of 367

GF,

many thanks.

goldfinger - 11 Jul 2005 23:01 - 86 of 367

No problems Andy.

cheers GF.

gordon geko - 12 Jul 2005 11:51 - 87 of 367

GF remeber SVR ??? looks to have hit the bottom and stands good chance of
recovering to 40p imho ?

goldfinger - 14 Jul 2005 00:38 - 88 of 367

Hi Gordon.

Posted on thread.

cheers GF.

HUSTLER - 14 Jul 2005 00:46 - 89 of 367

Lost it's heartbeat at present GF
but not for long
all the best
HUSTLER

goldfinger - 14 Jul 2005 11:42 - 90 of 367

Yup we need a bit of news to get the momentum going again.

cheers GF.

goldfinger - 15 Jul 2005 12:57 - 91 of 367

Looking an absolute bargain at todays price with short term nav of circa 400p and longterm nav circa of 8 , P/e only 4 aswell. Its just waiting to be bought. With forward P/E of forecast 5.

cheers GF.

HUSTLER - 15 Jul 2005 14:04 - 92 of 367

Could not agree more Gf
giving it away at this price.
I feel 6.00 now would still be a bargain
can only put it down to a thin market, and
still not that easy to trade any real volume,
but as the news spreads i am sure it will pick
up fast.
All the best
HUSTLER

aldwickk - 02 Aug 2005 07:10 - 93 of 367

Global Energy Development PLC
02 August 2005


Immediate Release 2 August 2005



GLOBAL ENERGY DEVELOPMENT PLC

Exercise of Warrants

Global Energy Development PLC (the 'Company') announces that following receipt
of notices to exercise warrants at an exercise price of 60p from four
shareholders of the Company, with the latest notice received on 22 July 2005,
the Company has allotted and issued credited as fully paid 81,108 new ordinary
shares in the Company (the 'New Shares'). Application has been made for the New
Shares to be admitted to trading on AIM and admission is expected to occur on 8
August 2005.



Following admission, the issued share capital of the Company will be 35,046,155
ordinary shares.



Following today's announcement there are 84,275 warrants outstanding in respect
to the Company's ordinary shares with an expiry date of 8 August 2005 and an
exercise price of 60p, these being held by minority shareholders.







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