GED Global Energy

RNS Number:4238T
Global Energy Development PLC
01 November 2005

 This announcement is not for release, publication, or distribution in or into
                               the United States


Immediate Release                                                1 November 2005



                         GLOBAL ENERGY DEVELOPMENT PLC

                    ISSUE OF US$12.5 MILLION OF CONVERTIBLE NOTES

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 raised US$12,500,000 through the issue of unsecured
variable coupon convertible notes due 30 October 2012 ("Notes") to a Swiss-based
fund manager.

The Notes, with an annual coupon of 5% for the first three years, 6% from
October 2008 to October 2010 and 7% thereafter payable quarterly in arrear, are
convertible into ordinary shares of 1p each in the Company at 305.8p per
ordinary share, representing a premium of 10% to the closing mid-market price on
28 October 2005, this being the last trading day prior to the delivery of the
Notes.  If not converted or previously redeemed the Notes will be redeemed at
their principal amount on 30 October 2012.

Commenting, Stephen Voss, Global's Managing Director, said:

"The Company has significantly enlarged its acreage position and prospects over
the past year and expects to supplement the current 5.1 million acres even
further over the coming months.  The Company even now holds a number of
exploratory projects that the management consider to have high potential and as
such are accelerating the drilling programmes associated with them.  The purpose
of issuing the Notes is to provide the Company with additional immediate funds
that can supplement the current cashflow from production and be specifically
dedicated towards rig contracting and building up inventory, as well as general
corporate use, thereby allowing greater visibility over drilling schedules."

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 currently holds approximately 5.1 million acres through six contracts in
Colombia and Peru, an exclusive Technical Evaluation Agreement ("TEA") in
Colombia and a concluded exclusive TEA in Panama which is in the process of
being converted into an exclusive contract.  As at 31 December 2004, Global had
independently reported proved and probable reserves totalling 16.5 million BOE.

This announcement does not constitute, or form part of, an offer or solicitation
of an offer, to purchase or subscribe for, underwrite or otherwise acquire, any
rights, shares or other securities. Members of the general public are not
eligible to take part in the securities offering. The securities are not and
will not be offered other than to persons who trade or invest in securities in
the conduct of their profession or trade (which includes banks, securities
intermediaries (including dealers and brokers), insurance companies, pension
funds, other institutional investors and commercial enterprises which as an
ancillary activity regularly invest in securities). In the United Kingdom this
announcement is directed exclusively at (a) persons who have professional
experience in matters relating to investments who fall within article 19(5)
(investment professionals) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 ) ("the Order") or (b) are persons falling
within article 49(2)(a) to (d) (high net worth companies, unincorporated
associations etc) of the Order or (c) other persons to whom it may be lawfully
directed (all such persons together being referred to as "Relevant Persons").
This announcement must not be acted on or relied on by persons who are not
Relevant Persons. Any investment or investment activity to which this
communication relates is available only to Relevant Persons and will be engaged
in only with Relevant Persons.

The information contained in this announcement is not an offer of securities for
sale or a solicitation of an offer to purchase securities in the United States.
The securities have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended (the "Securities Act"), or with any
securities regulatory authority of any state or other jurisdiction of the United
States and may not be offered, sold or delivered within the United States or to
US persons (as defined in Regulation S) except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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