PERSONNEL CHANGE AND APPOINTMENTS (8450C)

TIDMGED

RNS Number : 8450C

Global Energy Development PLC

14 March 2011

 
 For Immediate Release   14 March 2011

GLOBAL ENERGY DEVELOPMENT PLC

("GED" or the "Company")

PERSONNEL CHANGE AND APPOINTMENTS

Global Energy Development PLC, the Latin America focused petroleum exploration and production company (AIM: GED), announces certain personnel changes within the Company's operational, financial and communications areas with immediate effect. In order to reduce costs, the Company is consolidating and centralising most of its personnel in the country of its primary operations, Colombia, South America.

Steve Voss, GED's Managing Director, commented "As costs continue to increase within our industry, we are focused on streamlining all areas under our control. We believe our efforts to synergise personnel and operations will translate into cost savings and improved financial metrics for the Company and its shareholders in 2011. We are very confident in our team."

The Company has appointed Mr. Elmer Johnston as Operations Director. Mr. Johnston has held various positions within the Company and its predecessor companies since 1998. He currently serves as President and is a Director of the Company's principal subsidiary, Colombia Energy Development Company ("CEDCO"), in Bogota, Colombia. Mr. Johnston is fluent in English and Spanish, and is responsible for overseeing all employees, planning, and operations in Bogota, Colombia.

The Company has appointed Ms. Rocio Calderon as Finance Director. Ms. Calderon, is a Colombian citizen and is also fluent in English and Spanish. Ms. Calderon's experience includes positions between 1999 and 2010 both at BP Exploration Company and Ernst & Young in Colombia holding various positions in the finance area. Ms. Calderon currently serves as VP-Finance of CEDCO.

The Company has appointed Ms. Ana Maria Revollo as Company Secretary. Ms. Revollo, is a Colombian citizen who is fluent in English and Spanish and holds a law degree with a specialization in Commercial Law from Universidad de los Andes as well as a Masters degree in International Legal Practice from Instituto de Empresa de Madrid. Ms. Revollo has more than ten years of experience in management consultancy, legal corporate and tax advisory to Colombian and international companies. Ms. Revollo currently serves as General Counsel and Compliance Director of CEDCO.

Also, the Company has appointed Ms. Anna Williams as Director of Corporate Communications and Special Projects. Ms. Williams previously served as Senior Vice President and Chief Financial Officer of HKN, Inc., since 2000. Previously, Ms. Williams served as International Finance Manager with HKN, Inc. from 1996 to 2000. From August 2007 to July 2008, Ms. Williams served on the Board of Directors and Audit Committee of Spitfire Energy, Ltd., a Canadian public company. She brings to the Company her experience in corporate strategic planning, equity and debt issuances, financial planning, and acquisition / divesture activities.

For further information:

Global Energy Development PLC

 
 Steve Voss, Managing Director   011 281 574 1910 
 www.globalenergyplc.com

Matrix Corporate Capital LLP

 
 Alastair Stratton    +44 (0)20 3206 7204 
 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 (AIM: GED). The Company's balanced portfolio covers the countries of Colombia and Peru and comprises a base of production, developmental drilling and workover opportunities and several high-potential exploration projects. The Company currently holds six contracts: five in Colombia and one in Peru.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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