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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: roguedolphin who wrote (17562)	2/13/2006 5:05:16 PM
From: Crossy	Respond to of 37387

Peru is so-lala, Columbia is stable, I don't fear any "Bolivarist" turn in Columbia... they are the biggest receipient of US aid by the way.. Peru .. will be decided in April, only one guy, a former military officer has such a "resource nationlist" stance.. We'll see but PERU is only an exploration play for them, so it's not really material for their production figures.. stay tuned CROSSY

To: roguedolphin who wrote (17562)	5/4/2006 6:29:04 AM
From: Crossy	Respond to of 37387

re: Global Energy Development (Aim: GED.L) 280p News (long due Tilodiran-2 production test update) investegate.co.uk Global Energy Development PLC 04 May 2006 Immediate Release 4 May 2006 GLOBAL ENERGY DEVELOPMENT PLC POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL Global Energy Development PLC ('Global' or the 'Company'), the Latin America focused petroleum exploration and production company (LSE-AIM: 'GED'), is pleased to announce positive test results from its Tilodiran 2 exploratory well on the Rio Verde Exploration and Production Concession contract area in the central Llanos region of Colombia. The Company perforated two intervals between 13,020 feet and 13,230 feet and tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2 well. These formations are two of an overall six potentially oil productive zones that were identified by the management team with the four other zones not tested at this stage. The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of methane for a total maximum short-term rate of 2,873 boepd. Two productive formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a combined, commingled basis to achieve these maximum rates. The Upper Gacheta produced 19 degree API gravity crude at a very low solution gas-oil ratio and essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35% to 65%. Based on the Company's experience, the gas-oil ratio for the Upper Massive Ubaque is exceptionally favourable and should enhance the long term deliverability of oil from this formation. Given these gas-oil ratio and water cut characteristics the Company currently estimates a stabilized oil rate at the minimum possible pump speed to be approximately 1,100 boepd. After arranging for additional surface handling equipment as well as the necessary trucking capacity for short-term oil transportation, Global will look to place the Tilodiran 2 well on continuous production within four weeks. The Company's recent gross production, prior to the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd. Future production rates from the Tilodiran 2 well may increase assuming the successful addition of other potentially oil productive formations. Conversely, the Company may decide to restrict production rates according to what Global determines to be the maximum efficient sustainable rate of production according to prudent reservoir management techniques. The Company intends drilling another well in the Tilodiran field later in 2006. The Company will look to test the Mirador formation in this well in addition to others if present and bearing moveable hydrocarbons. The Mirador formation was untested in the Tilodiran 2 well but is considered by the management team to potentially be the most significant due to the Mirador's enhanced permeability and oil gravity characteristics found in similar fields in the Llanos region. Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is payable to others which includes 8% to the National Hydrocarbons Agency of the Republic of Colombia, with the size of the royalty to be determined by future production levels. Of particular interest to the Company is that the Rio Verde contract is contiguous with the southern boundary of Global's newly signed Los Sauces Exploration and Production Concession contract. Based upon data currently available the management team believe the Tilodiran field is part of a larger trend to the north into the Los Sauces contract area as well as further to the east in the Rio Verde contract area. Further action to define the scope of these opportunities is planned prior to the end of 2006 and continuing into 2007. Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing Director, said: 'We are extremely pleased with the results of the Tilodiran 2 well production test. The well shows preliminary evidence of very significant oil deliverability that will have a considerable impact on the Company's production volumes and revenues. Our immediate work plans are to install additional production facilities and begin planning for a pipeline extension to a junction 10 kilometres northwest of Tilodiran so that further field drilling can be undertaken later this year. Although we were unable to test all productive zones in the Tilodiran 2 well at this stage, our future development plans will include specific efforts to identify the productive potential of other formations, including the regionally prolific Mirador. The Company is also very excited about the potential to extend this success to other adjacent geologic features that appear similar to our Tilodiran field.' For further information: Global Energy Development PLC Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177 www.globalenergyplc.com +44 (0) 7909918034 ------------------------------------------------- Notes to Editors: Global has been listed on the AIM Market of the London Stock Exchange since March 2002 (LSE-AIM: 'GED'). The Company currently holds in excess of 5.2 million acres through nine contracts in Colombia and Peru, an exclusive Technical Evaluation Agreement ('TEA') in Colombia and a concluded exclusive TEA in Panama. Global's portfolio comprises production, developmental drilling and workover opportunities and several high-potential exploration projects. Glossary: boepd - barrels of oil equivalent per day bopd - barrels of oil per day BS&W - basic sediment and water mcfd - thousand cubic feet of gas per day