Global Energy Development PLC Bolivar Rig Mobilisation (4092H)

TIDMGED

RNS Number : 4092H

Global Energy Development PLC

19 May 2014

Immediate Release 19 May 2014

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company" or "Global")

SIMITI FORMATION TEST - RIG MOBILISATION

Global Energy Development PLC, the Latin America focused petroleum exploration, development and production company (AIM: GED) with operations in Colombia, announces that the rig mobilisation has commenced to the Catalina #1 well in the Company's Bolivar Association Contract ("Bolivar Contract") located in the northern section of the Magdalena Valley in Colombia, South America.

The workover rig is being transferred from the central Magdalena Valley area and the rigging up of all existing equipment is expected to be completed over a seven day period, with key new equipment expected to be ready for shipment from Houston, USA. to Colombia shortly. The transferal process involves the removal of existing production equipment from the wellbore and the installation of surface pressure control equipment and production tubing suitable for use in high pressure operating conditions, after which the workover rig will then be demobilised and removed from the location. After all surface equipment is installed and pressure tested, stimulation of the Simiti will then proceed with initial testing results expected in July.

Stephen C. Voss, Managing Director of Global commented, "Following an extensive period of planning and equipment preparation, the Company is about to undertake its first stimulation test of one of the five Bolivar block productive horizons that form the basis of our year-end 2013 reserve report. The Simiti test is focused on conventional sandstone sections that are known to be productive producers to the south of our Bolivar Block acreage. The Company is hopeful that with modern stimulation techniques, the flow rates achieved nearby in the same formation can be enhanced in our Catalina 1 well-Simiti Test."

For further information please contact

Global Energy Development PLC

 
                                    +001 817 310 
  Anna Williams, Finance Director            0240 
  awilliams@globalenergyplc.com 
   www.globalenergyplc.com 
 
 
 Northland Capital Partners 
  Limited 
                                 +44 (0)20 7382 
  Louis Castro                             1100

Lauren Kettle

This information is provided by RNS

The company news service from the London Stock Exchange

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