POSTING OF OFFER ANNOUNCEMENT (6827I)
June 17 2011 - 11:15AM
UK Regulatory
TIDMGED
RNS Number : 6827I
Global Energy Development PLC
17 June 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
Immediate Release 17 June 2011
GLOBAL ENERGY DEVELOPMENT PLC
("Global", the "Company" or the "Group")
POSTING OF OFFER ANNOUNCEMENT
Global Energy Development PLC, the Latin America focused
petroleum exploration and production company (LSE-AIM: "GED"),
which operates in Colombia through its wholly-owned subsidiary
Colombia Energy and Development Company, announces the Company is
today posting a letter to shareholders containing the text of the
announcement made on 16 June 2011 of the mandatory cash offer for
the issued ordinary share capital of the Company by HKN Inc. (the
"Offer"). The letter contains a recommendation from the independent
directors of Global that shareholders do not accept the Offer.
A copy of the announcement is available on the Company's website
www.globalenergyplc.com.
Global Energy Development PLC
Anna Williams, Director of
Corporate Communications
and Special Projects +001 817 773 1502
awilliams@globalenergyplc.
com
www.globalenergyplc.com
Buchanan Communications
Tim Thompson +44 (0)20 7466 5126
Ben Romney +44 (0)20 7466 5132
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 includes the countries of Colombia and
Peru and comprises a base of production, developmental drilling and
workover opportunities and several exploration projects. The
Company currently holds six contracts: five in Colombia and one in
Peru.
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 27 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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