Global Energy Development Share Discussion Threads

[dlku] 21/8/2015 14:08

The relative risk of two types of landslides hazards, rotational slides and debris flows/rapid erosion, were assessed for the stream crossings evaluated using a set of risk factors. The primary risk factor evaluated relates to the presence of landslide hazards that are shown on published geologic hazard mapping and on landslide inventory mapping developed for the Project. Where mapped landslides or debris flow/rapid erosion hazards are identified on landslide mapping, the type and location of hazard is summarized for each of the selected stream crossings. Additional risk factors are evaluated for each crossing location to determine a relative hazard score for each of the 13 stream crossings evaluated. Incorrect risk factors used in the assessment may have been used, viz
 Slope Steepness
 Landform
 Geology
 Land Use
 Scour Potential
 Channel Migration

thats the problem

[hugepants] 21/8/2015 13:59

Can't argue with that. The audited accounts are wrong and you are right.

[dlku] 21/8/2015 13:36

those things always cost more, especially in columbia where high rainfall can result in landslides

[hugepants] 21/8/2015 13:35

The Colombian decomissioning costs are stated in the last accounts. They are accounted for but will probably be less now given how rig costs etc have plunged.

[dlku] 21/8/2015 12:38

you wont know the abandomnet liability or the money the columbians will want until it bites your buttock

[pavey ark] 21/8/2015 12:19

Yes that's all very interesting but nothing there that we weren't aware of.
As far as I'm know they have closed down their drilling operations and will bring them on if/when oil price picks up.
So, in short, no great liability.

[dlku] 21/8/2015 11:54

The outlook for oil is getting worse and worse as the US benchmark West Texas Intermediate (WTI) is set to reach its second-longest losing streak in more than 30 years.

The black stuff is 0.92 per cent down at $40.94 a barrel in mid-morning trading, having fallen 3.8 per cent over the week.

WTI has plummeted 31.46 per cent over the last eight weeks, second only to a 10 week losing streak between December 1985 and March 1986, which resulted in WTI being traded at $12.28 a barrel, having fallen 54.33 per cent.

Over the last year the price of WTI has fallen 56.4 per cent. Oil prices are expected to stay low for a long period, according to the International Energy Agency, who reported earlier this month that the oil supply glut would last until the end of 2016.

Just over a week ago WTI crashed through its $42 floor to trade at a six year low.

Read more: Oil prices set for long-term slump as WTI price forecast lowered through 2016

Oil has been under increasing pressure in recent weeks amid worries of a global supply glut and a slowdown of the Chinese economy.

ICE Brent crude is also trading 0.94 per cent down at $46.18 a barrel, after having fallen 3.64 per cent on Wednesday and 6.1 per cent over the week.

[pavey ark] 21/8/2015 10:19

dlku, don't be a tease...a bit more detail would be good then people can follow it up.
Edit: did you forget to put a question mark at the end ?

[dlku] 21/8/2015 10:00

big liabilityies in columbia not on the balance sheet

[hugepants] 21/8/2015 09:58

The concert party made a (mandatory) cash offer of 72p back in 2011 for all the shares they did not own. There was only 0.66% acceptances!


I think they may try offering 45p-50p this time.
Interims out in a few weeks.

[pavey ark] 20/8/2015 16:29

Bought a few of these recently for what seems the rather silly price of 29.5p (famous last words).
I did look back at the previous posts and spent some time researching the company as I felt there must be a catch but couldn't find any (again,famous last words).
GED came to my notice in the IC but I didn't pay much attention but the share price just kept on falling so I had a look.

I was a bit worried that the management would "splash the cash" but Simon Thompson in the IC pointed out that we have a concert party here holding 69% of the shares and any deal would have to be cleared by them.
I suspect that these holders are quite happy to see the share price fall and then use some of the cash to buy out the remaining 30% and take the company private.
Provided the offer is at a good enough level they should do OK .
An open offer to buy the shares back for 50p, obviously for a limited time, would do the trick.
Buying in 10m shares at 50p would leave a lot of cash and the remaining oil assets.

The senior management are certainly getting on and it looks like a time for a change.

Its only been nine months since the asset sale and the oil market is in turmoil but it will be interesting to see what the H1 results bring.

It certainly doesn't help the share price that the company is called Global Energy Development so in the current climate they may act soon if they are going to take it private.
Take it private , take the remaining cash and wait for any uptick in the oil price then flog off the rest of the assets.
Nice work if you can get it.

[loverat] 11/8/2015 14:21

Well, something has to give here soon I think.

I think the assets have to have some value, albeit not valued by the market presently. Things can and do change quickly.

You could argue that the timing of the sale of the previous assets was an achievement.

Where would this company be now without that sale? Now it is sitting on all this cash I suppose the management would argue it is being prudent in taking time in these uncertain markets.

[bigdazzler] 11/8/2015 13:43

Let's hope they don't take the mick and delist

[salpara111] 11/8/2015 13:40

The Columbian assets have no value at present and I suspect that they have no value until oil is over $70 which is a long way away.
In theory this is a no brainer given the cash value Vs market cap but the simple answer is that management cannot be trusted to act in investors best interests when it comes to utilising the money.
I would much rather they wind up the company which would not be that difficult given the low number of staff and no operations but that would mean the management having to vote themselves out of undemanding highly paid jobs.

[loverat] 11/8/2015 12:57

Wow. 30p to buy.

Drifting on small sells but the occasional large buy picking them up.

I wonder what is going on here. 30p is a market CAP of about 11m.

As at Dec 14 the business had cash of 26m and some Columbian assets which were on hold awaiting improvement in the Oil industry.

Has the market got this wrong and simply viewing this as a struggling oiler?

Has it forgotten that cash (subject to hopefully minimal reduction since) is over twice the MC?

Interesting to see where this goes or what the management has planned here.

[salpara111] 22/6/2015 17:02

Well, my holding here is now worth so little that I am inclined to just hold until the next update as they will have to either return cash of announce what they are planning on doing with it.

[anangf] 20/6/2015 16:47

What a disaster zone this stock is.

[hedgehog 100] 20/6/2015 16:37

Please note the following thread which may be of interest:

"THE REVERSE TAKEOVERS & SHELLS THREAD (RTO)"

[salpara111] 10/6/2015 12:45

Pathetic!
Not a single word about what is going on with the business.
I would have left a long time ago if it were not for the cash pile.

[lqs] 26/5/2015 11:24

2015 could prove to be an interesting year for the Company and its shareholders. Other oil companies with much higher production, turnover and market capitalisation tend to also hold high levels of outstanding debt. In the previous high oil pricing environment, cash flows from operations could easily satisfy any ongoing debt requirements for these types of companies. Low oil pricing and the resulting decrease in cash flow from operations coupled with lower oil reserve values can be difficult circumstances to survive during a prolonged amount of time. Our Company is currently structured to allow us to seek alternatives and opportunities to create value for our shareholders during this precarious time in our industry.

[silkywhite] 26/5/2015 10:04

not many of these kind of bargains around now

[loobrush] 26/5/2015 09:55

Plenty to go for here-should go up towards results

[loverat] 26/5/2015 09:32

Starting to recover. Just a little buying to move this.

MC still around half of cash I think.

[loverat] 26/5/2015 05:44

Salpara111

It can be difficult to know what to do, especially if you have alot of these.

That said, I have bought a few here as I think this will spike in the relative short term in any event.

I know it is said often but I struggle to see much further downside with the share price at half of cash. Despite the worries and concerns about management and what their plan is I think this has fallen way too far.

[hiriam007] 25/5/2015 14:37

If the board and main share holders interests are aligned with the small PIs then things may go very well. Hope so :)