GED Global Energy

RNS Number:6062J
Global Energy Development PLC
11 December 2007


For Immediate Release                                          11 December 2007




                         GLOBAL ENERGY DEVELOPMENT PLC

                        CORPORATE AND OPERATIONS UPDATE


Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is today
providing an update since announcing its interim results and that it had
received approaches from parties interested in making an offer for the Company,
both of which took place in September 2007.


Update on partnering discussions

The Company has continued its commercial discussions with potential partners for
some of its projects and is pleased to report that it has received positive
feedback from a number of potential partners.  However, the Board of the Company
has determined to postpone finalising an agreement pending the outcome of
discussions relating to a possible offer for the Company as the offer period
makes the process of signing an agreement more protracted through requiring
prior shareholder approval if the proposed agreement is deemed to be material.


Production and operations update

The Company's gross production has averaged 1,277 barrels of oil per day 
("BOPD") from 1 July 2007 through 30 November 2007, against an average of 1,341 
BOPD for the six months ended 30 June 2007, with no new production being added 
in 2007 and a decline rate for the combined production of 4.7%.

The Los Sauces contract in Colombia has been relinquished back to the National
Hydrocarbons Agency of the Republic of Colombia ("ANH") as the Company was
unable to secure a rig to complete its work obligations under the contract.
This contract, however, accounted for none of the Company's reserves as
independently reported by Ryder Scott Company, LP as at 31 December 2006.

An independent technical study on the Luna Llena contract, also in Colombia, has
now been completed by a different third party.  Utilising the limited
information available, the study indicates a potential of 27 million barrels of
oil equivalent ("BOE") of reserves in the low case and 50 million BOE in the mid
case with the vast portion located underneath the Meta River and a capital
intensive work programme would be needed to potentially realise these reserves.

The Company is currently assessing where to apportion its financial resources
for 2008 and will provide an update early in 2008.


Possible offer for the Company

The Board of the Company continues to evaluate expressions of interest which may
or may not lead to an offer for the Company and further announcements will be
made by the Company in due course.


For further information:



Global Energy Development PLC

Catherine Miles, Company Secretary                         +44 (0) 20 7763 7177

www.globalenergyplc.com                                    +44 (0) 7909918034


The information contained within this announcement has been reviewed by Mr.
Stephen Voss, the Company's Managing Director.  Mr. Voss has been a Member of
SPE-AIME (Society of Petroleum Engineers-American Institute of Mine Engineers)
for 36 years and is a Registered Petroleum Engineer in Texas.



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