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

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.

Mention of GED in the Small Caps commentary in the Times - as a debut buy recommendation by Bridgewll Securities....

Baza.

Nice spot Baza.

cheers GF.

Oil price set to return to highs and above in late December.

Good news for us in GED.

cheers GF.

Only put the heating on this week GF,
and still mild down south. When Winter sets in proper
demand will soar, not good news for the economy in general
but good for oil based stock. GED will still stand out from
the crowd as a top performer within the next 12 months
i am sure whatever the weather, far to cheap.
All the best
HUSTLER

You got heating !! - u guys must be soft down south

LOL Baza

We are Baza
like to be cozy
log fires mulled wine and all that.
Oh and cheers to our future sucsess
with Ged in anticipation.
All the best
HUSTLER

Nice little tick up.

cheers GF.

Global Energy Development PLC
11 November 2005


Immediate Release 11 November 2005

GLOBAL ENERGY DEVELOPMENT PLC

OPERATIONS UPDATE

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), announces
that Harken Energy Corporation ('Harken'), a Delaware corporation and holder of
33.78% of the Company's issued ordinary shares of one pence each, has filed with
the Securities and Exchange Commission of the United States its Quarterly Report
on Form 10-Q for the quarter ended 30 September 2005.

Harken's Form 10-Q includes certain financial information, on an United States
GAAP basis, with respect to the Company's operations. As at 30 June 2005 and 30
September 2005, Harken held 62.36% and 34.02% respectively of the Company's
issued ordinary shares of one pence each. Under United States accounting and
legal regulations, Harken was required to consolidate Global's operations in
Harken's financial statements for the period ended 30 September 2005. Global
announces its financial results on an U.K. GAAP basis and hence the stated
financial results contained in the Form 10-Q differ from those Global reports.

Reported within Harken's Form 10-Q, Global's net production for the nine months
ended 30 September 2005, after all royalities and production attributable to
Ecopetrol, was approximately 367,000 barrels of oil which exceeded Global's net
production for the whole of 2004 (year ended 31 December 2004: 365,527 barrels
of oil). Global's average oil price increased 39% to $49.33 per barrel during
the third quarter of 2005 compared to $35.48 per barrel during the third quarter
of 2004. The higher price received was due to improved terms from the PetroBras
crude oil sales contract signed in April 2005 and effective from May 2005 and
the prevailing oil price.

Global has also exercised its exclusive option to commence negotiations with the
National Hydrocarbons Agency of the Republic of Colombia ('ANH') to convert a
portion of its Valle Lunar Technical Evaluation Agreement ('TEA') acreage into
an exclusive Exploration and Production Concession contract. Global anticipates
executing this contract before the end of 2005 whilst continuing to hold the
remaining TEA acreage. Global has taken the decision to convert a portion of the
TEA acreage early to accelerate development related activities relating to
existing wells and acreage that featured oil tests in the 1980s.

Good news that Baza in columbia.

cheers GF.

Oil: Higher after recent decline
Mon 14 Nov 2005

LONDON (SHARECAST) - Oil prices revved a little bit higher on Monday after its recent decline to a 4-month low on the back of bigger than expected stockpiles.

Government data showed US crude stocks rose 4.5m barrels to 323.6m barrels after strong imports last week.

This took inventories to around 13% over last years levels. US light crude oil closed up 16c at $57.69 a barrel.

cheers GF.

Hi GF
Stocking up is good but it will be used up,
what's the cost to replace going to be that
is the question, holding tight
hard winter predicted.
Economy will suffer and we will all pay
but cheap fuel is a thing of the past
only a matter of time before Ged catches up
price target 8.00 plus 12 months.
All the best
HUSTLER