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

May add a few more then hustler.

cheers GF.

Would be nice if it went back up .

Looks like buys bigger than sells.

cheers GF.

Doesn't look like that to me today GF
Edit , most of the trades are MM's ?

Your right Jimmy later on.

Getting a bit worried about the Money am data, news comes out like for SMC yesterday but no log up on my portfolio, so i missed it and see it today.

Well its free but im going to have to look at the uk wire thread everyday from now.

Nb, I dont use level 2 and never have done. Being medium term to long term I see no use of the service. Some times though because I know a lot of snitches in this business look out for quick fire sure opportunities.

cheers GF.

Hi GF
Bloody freezing down South heating on all day
for the first time this year, Kids still had the fire on
as well. We may see a blip in price short term but
energy stocks will prosper in general mid to long term.
All the best
Hustler
ps
have a look at Bristol water & British energy
both look interesting.

Yes British Energy the fortgotten one. Cheers hustler.

GF.

We seem to be eroding away a few pence every day for no good reason .

Again a 2p drop on no volume.

Good news

Global Energy Development PLC
23 November 2005



Immediate Release 23 November 2005

GLOBAL ENERGY DEVELOPMENT PLC

NEW CONTRACT APPROVED IN COLOMBIA

LUNA LLENA CONTRACT WITHIN VALLE LUNAR ACREAGE

Global Energy Development PLC ('Global' or the 'Company'), the Latin America
focused petroleum exploration and production company (LSE-AIM: 'GED'), is
pleased to announce it has received approval for a new exclusive Exploration and
Production Concession contract with the National Hydrocarbons Agency of the
Republic of Colombia ('ANH') following electing to convert a portion of its
Valle Lunar acreage held under a Technical Evaluation Agreement ('TEA').

The new Luna Llena Contract, one of six contracts Global now holds in Colombia,
covers 369,000 acres within the approximate 2.1 million acre Valle Lunar TEA
located in the established Llanos Basin of eastern Colombia.

The Valle Lunar TEA, signed in May 2005, grants Global the exclusive option to
convert any of the acreage into a contract or contracts prior to or at the TEA's
conclusion in October 2006.

The early conversion of the Luna Llena Contract reflects the Company's wish to
accelerate its work programme on this selected area due to the management's
belief that the opportunity to develop substantial medium heavy oil reserve
potential is significant.

Since Global signed the Valle Lunar TEA, the Company has conducted Landsat
analysis of the acreage which yielded a considerable amount of surface data,
particularly within the Luna Llena area, that can be utilised in subsurface
interpretation. In addition, the Luna Llena acreage contains the identified El
Miedo field which has substantial well tests and subsurface geologic control
that was acquired by two international oil companies in the 1980's from an
extensive drilling effort conducted by them. Oil production tests were
successful at this time. Global has already completed engineering and geologic
studies on the El Miedo field.

Global will own 100% of the Luna Llena Contract subject only to an initial 8%
royalty, with the size of the royalty to be determined by future production
levels. The Contract duration is 30 years divided into an initial six-year
exploration phase and a 24 year exploitation and production phase. Under the
terms of the Luna Llena Contract, Global must within 18 months acquire 165
kilometres of 2D seismic, reprocess 500 kilometres of existing seismic, re-enter
and test one existing well and drill two exploratory wells which cover the total
geologic column. Global can then elect, if it so wishes, to proceed to phase two
which also covers 18 months and requires re-entering another existing well or
drilling another exploratory well. Phases three to five, all optional, are each
12 months and require the drilling of an exploratory well in each phase.



The Company anticipates the potential deposits within the Luna Llena Contract to
be at shallow depths requiring relatively modest costs and enabling more rapid
drilling. In addition, shallower wells should help surmount any rig availability
issues to a certain extent as smaller rigs are more readily available.

Global will continue to hold the remaining Valle Lunar TEA acreage and conduct
further geologic analysis and geophysical tests over the next several months,
fulfilling all the associated work obligations, with a view to potentially
contracting more of the acreage.

The costs incurred under the required work programmes for both the new Luna
Llena Contract and Valle Lunar TEA will be met by cashflow from existing and
near-term production from the Company's five productive contracts in Colombia.
Commenting on the new Luna Llena Contract, Stephen Voss, Global's Managing
Director, said:
'We are intent on rapidly accelerating our exploitation activity in the portion
of our Valle Lunar acreage known as Luna Llena due to the tremendous potential
we consider it presents.
Two international oil companies drilled a number of shallow wells in the 1980s
within Luna Llena to a depth of approximately 3,000 feet which delineated what
is now known to be the El Miedo field. Oil production tests were successful but
the opportunity was deemed non-commercial at the time due to low oil prices.
We are now finalising our plans for new drilling in the El Miedo field in the
second half of 2006. In addition, we believe the Luna Llena and Valle Lunar
acreage outside of El Miedo holds other prospective opportunities and we will
conduct further analysis and tests over the next several months with a view to
contracting further acreage.'

Good news again. Should rise when the Oil Price goes back up again.

cheers GF.

Its about time this one woke up again.

cheers GF.

Trading statement due today GF ..

Only up 0.5 on the drilling update, i sold out of these monday.

aldwickk , i never expected riches overnight with these, ,but they have been a bit boring lately ..

Global Energy starts rig mobilisation to Tilodiran 2 well in Colombia
AFX


LONDON (AFX) - Global Energy Development PLC said it has started rig mobilisation to the Tilodiran 2 exploratory well in the Rio Verde Exploration and Production Concession in Colombia.

Global expects to spud Tilodiran 2 in mid to late December.

Managing director Stephen Voss said: 'The rig mobilisation to Tilodiran 2 at this time represents an acceleration of the work programme required under the terms of the Rio Verde contract which specifies that the company must drill the first exploratory well during phase two which does not commence until May 2006. We look forward to quickly progressing this well.'

newsdesk@afxnews.com

ra

Im holding on. These have the potential to suprise when you least expect it.

Am still holding SOCO at a very large gain and have a shed load of Victoria after Evil K alerted me to their potential but think they are speculative so its hit or miss with them, hit could be superb, miss could mean most money being lost. Ill take my chances with them and they are my one yearly gamble being a dour investor normally.

cheers GF.

glad to see your dour on these GF :-))

Well I'm in here for the long term.........one of my safer investments which I intend to hold for a few years yet, though I did take profits just before the recent decline (not through good judgement, purely luck!).

Not exiting at the mo but what I like most about GED is a favourable P/E,good growth to date, no debt and huge upside potential.............not easy to find such companies.

Yes the fundies are really appertising.

cheers GF.