GED Global Energy

 

TIDMGED 
 
RNS Number : 6899M 
Global Energy Development PLC 
28 May 2010 
 

+-------------------------------+-------------------------------+ 
| Immediate Release             |                   28 May 2010 | 
+-------------------------------+-------------------------------+ 
 
 
                          GLOBAL ENERGY DEVELOPMENT PLC 
                                (the 'Company') 
 
                              Well Testing Update 
 
 
Global Energy Development PLC, the Latin America focused petroleum exploration 
and production company (LSE-AIM: "GED"), announces an update on the drilling and 
testing of the Rio Verde 2 exploratory well within the Colombian Rio Verde 
contract. 
 
The well was successfully drilled to a final depth of 12,340 feet and log 
evaluation indicated commercial hydrocarbons present and total net productive 
pay of 23 feet in the Middle Gacheta formation and 10 feet in the Lower Gacheta 
formation. 
 
Shortly after beginning to test the Middle Gacheta formation the Company 
experienced some mechanical problems which have caused delays and the Company 
now expects full testing to occur in June. 
 
For further information: 
 
Global Energy Development PLC 
 
+---------------------------------------+--------------------+ 
| Catherine Miles, Company Secretary    | +44 (0)20 3178     | 
|                                       | 5156               | 
+---------------------------------------+--------------------+ 
| www.globalenergyplc.com               | +44 (0)7909918034  | 
+---------------------------------------+--------------------+ 
 
Matrix Corporate Capital LLP 
+---------------------------------------+--------------------+ 
| Tim Graham                            | +44 (0)20 3206     | 
|                                       | 7206               | 
+---------------------------------------+--------------------+ 
 
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 Company currently holds seven 
contracts: five in Colombia; one in Peru; and one in Panama. 
 
The information contained within this announcement has been reviewed by Mr. 
Stephen Voss, a Director of the Company, for the purpose of the Guidance Note 
for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect 
of AIM companies which outlines standards of disclosure for natural resource 
projects. Mr. Voss is a Registered Professional Engineer in Texas and has been a 
Member of SPE for 25 years. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DRLKMGZKVNDGGZM 
 

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