GED Global Energy

RNS Number:3816P
Global Energy Development PLC
05 March 2008


For Immediate Release                                               5 March 2008

                         GLOBAL ENERGY DEVELOPMENT PLC

                               OPERATIONS UPDATE

Global Energy Development PLC (the "Company"), the Latin America focused
petroleum exploration and production company (LSE-AIM: "GED"), intends
announcing final results for the year ended 31 December 2007, along with the
annual independent reserve report prepared by Ryder Scott Company, LP, on 8 May
2008. The final results will be prepared under International Financial Reporting
Standards ("IFRS").

Gross production for the year ended 31 December 2007 totalled 478,030 barrels of
oil ("bbls") (year ended 31 December 2006: 466,099 bbls) with production net to
the Company of 413,775 bbls (year ended 31 December 2006: 401,298 bbls).  The
Company's lease and operating expense ("LOE") in 2007 was marginally lower than
in 2006 due to increased operational efficiencies and despite rising industry
costs.

In February 2008 the Company announced the signing of a contract with Saxon de
Panama S.A. for the use of Rig 132 for a two-well, back-to-back, drilling
programme within the Colombian Rio Verde contract.  The rig was expected to
commence mobilisation in February 2008 but has been slightly delayed as a result
of the previous operator performing additional activities.  Rig mobilisation is
now expected to commence very shortly, with a mobilisation time of approximately
four weeks.

The two-well drilling programme is expected to account for just over half of the
Company's currently predicted 2008 capital expenditure programme. The Company's
cashflow will also be directed at workovers, geological and geophysical studies
at the Panamanian Garachine contract and planning for fracturing tests at the
Colombian Bolivar contract, which may be performed towards the end of 2008.

As previously announced, the Company expanded its management team in February
2008 through the appointment of Mr. Stephen Newton as Managing Director.  Mr.
Newton has over 33 years of international petroleum experience, including over
12 years of operational experience in Colombia. He is responsible for all the
Company's operations, including the current drilling programme.

The Company is continuing commercial discussions with potential partners for
several different projects. These discussions had been halted while the Company
was in an offer period which ended in December 2007 when the Board concluded
that the unsolicited approaches undervalued the Company.

For further information:

Global Energy Development PLC
Catherine Miles, Company Secretary                     +44 (0) 20 7763 7177
www.globalenergyplc.com                                +44 (0) 7909918034

Landsbanki Securities (UK) Limited                     +44 (0) 20 7426 9000
Jeff Keating
Fred Walsh
Sebastian Jones


Notes to Editors:

The Company's shares have been traded on AIM, a market operated by the London
Stock Exchange, since March 2002 (LSE-AIM: 'GED'). The Company's balanced
portfolio covers the countries of Colombia, Peru and Panama and comprises a base
of production, developmental drilling and workover opportunities and several
high-potential exploration projects.

The information contained within this announcement has been reviewed by Mr.
Stephen Voss, a Director of the Company.  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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