Global Energy Development PLC Postponement of -2-

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of Global or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of Global or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) Global and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of Global or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by Global and by any offeror and Dealing Disclosures must also be made by Global, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of Global and any offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

You should note that, for the purposes of the above summary of Rule 8 of the Code, HKN is not treated as a paper offeror and therefore there is no requirement to disclose interests or dealings in shares of HKN under Rule 8 of the Code.

Publication on Global Website

In accordance with Rule 19.11 of the Code, a copy of this announcement will be available on Global's website (www.Globalenergyplc.com) by no later than 12 noon on 15 July 2011.

Hard copies of this announcement will be available for inspection at the offices of Merchant Securities Limited, 51-55 Gresham Street, London EC2V 7HQ.

You may request a hard copy of this announcement free of charge by contacting Merchant Securities Limited on 00 44 207 628 2200.

This information is provided by RNS

The company news service from the London Stock Exchange

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