Global Energy Development Share Discussion Threads

[druinsky] 09/6/2011 07:00

or plunge back to 60p on a dry hole

[landmark2] 09/6/2011 06:20

I believe we will see 120p today at least, before any profit taking comes in. With a 180p target for the year.

[nils214] 08/6/2011 20:01

moosh, limited shares available to trade which is why this stock can be a bit spikey at times. If good news can increase the share price 50% imagine what great news will do!

[moosh2] 08/6/2011 18:45

give it 6 months. today marked the start of a new medium term cycle fwiw. news-induced. nice.

i do wonder how high this could go if 20m shares were traded in a day lol?!

and i'm also baffled as to why more shares were traded in RKH which are multiple times GED share price can people not do the maths?!

[nils214] 08/6/2011 17:17

The workover programme targeted various un-perforated productive intervals in the middle to lower Cretaceous formations.

slight correction...they may have been producing before, but not through being perf'd, just natural flow.

[nils214] 08/6/2011 17:16

T4&5 as is clear from their name are considered as development wells, not exploration wells. Unless there is something seriously wrong with their understanding of the geological interpretation of the formations, they are very unlikely to come up dry. I believe this is one of the main reasons why they are drilling these next. also if they are successful it will add considerably to their cash flow and reduce the need for further fund raising. That's not to say they wont still do a farmout. They seem to have now realised that a) it will reduce further risks and b) in order to maximise value from their assets they need to ramp up drilling and hence production, and they simply do not have the capacity to do this themselves. I would expect a major announcement this year, especially with these results and we may now have companies knocking at the door rather than the management having to try and find suitable partners themselves.

I would also add that it will be interesting to see how these additional previously untested formations might add to 2P reserves...jeez not sure we could handle having an increase from 123mmbbls!!

[glasswala] 08/6/2011 16:54

Nils214, i concur that if they come up dry (I hope they don't)in the next two wells at the TILODIRAN 4 & 5 WELLS then production will remain 2000 odd barrels per day and this is indeed a tidy sum not to be scoffed at and if cash flow out for equipment and workforce cost are controlled tightly the profit will indeed all come to the bottom line making it a tasty target for some majors.

[nils214] 08/6/2011 16:38

started sub 70p from last night's close and finished at 96p...give me some of that everyday (not exactly, I mean not like Groundhog day, although that wouldn't be a bad idea as I could buy in every morning and sell at lunchtime lol)!

blackstar...ffs is doesn't take long for the worms to come out bashing with inane comments does it? What part of 2200bopd don't you understand. If the next one is dry they will still have 2200 bopd, which will be c. $46mln in annual revenues.

[ohisay] 08/6/2011 15:52

The grand old duke of york must have a shareholding here.

[glasswala] 08/6/2011 14:42

Is this being played as a pump and dump by the MMs. In the morning peops couldn't wait to buy these even at £1.15. Its all gone pear shaped since then!! What a shambles Aim is. This is no longer about raising capital as it seems to be a casino

[blackstar3] 08/6/2011 14:30

Look at ascent - worth just 3p - if the next well is dry this will crash like that one imho

[glasswala] 08/6/2011 14:25

Incredible Aim Stocks, Desire Petroleum worth £86m, with no oil no money & no real propects! Global Energy worth a paltry £35m only with producing oil assets of approx. 2000 BOPD! Crazeeeeeee markets!!!.
If we take a conservative calc of $70* 2000BOPD *330 (allowing 10% for lost production days, due repairs, downtime staff national holidays etc) = $46m turnover if profit are at least 20% of this would mean $9m exchange rate of 1.6 US$ to UK£= £5.6m Thats a good return on capital if i may say so. But the city whiz kid cannot see a good share from bad.

[ssunn] 08/6/2011 14:15

Excellent news and hopefully this is just the start of the company substantively making progress to realise the value of its assets.
I would be in favour of a share split , say 10 for 1, in order to improve market liquidity and the investor base.

[ssunn] 08/6/2011 13:58

crosswire

£96mil mkt cap = £2.75 ps :-)

[loafingchard] 08/6/2011 12:41

Yeeeeeeehaaaaaaaa make mine a double :) well done GED and us holders . The best news i have had over the last few months . Having a resource focused portfolio has been painful lately .

[crosswire] 08/6/2011 12:34

LSE bb:

=========================================================================

Mcap £40mil- NPV £960mil, if we take 10% of NPV -that will give us Mcap of £96mil- share price of £2.

[stnick] 08/6/2011 12:27

well those holders who have been more patient than I have been rewarded. back at the levels (ish) that i sold at.

Must admit this totally came out of left field. Still not keen to hold shares in this though with the way info. seems to be held back by the Co. but best of luck to those that do.

Certainly undervalued based on fundamentals...

[crosswire] 08/6/2011 12:02

Global lifts Colombian output

London-listed Global Energy Development has reported a 100% increase in production from the Rio Verde contract area in Colombia following the workover of the Tilodiran-2 and Tilodiran-3 wells.

Upstream staff 08 June 2011 08:22 GMT




Global said since the workover programme total output has reached a sustainable average of about 2200 barrels of oil per day, up from 1100 barrels previously.

The workover programme targeted various un-perforated productive intervals in the middle to lower Cretaceous formations.

"The workover programme completed on the Tilodiran 2 and 3 wells within the Rio Verde contract area demonstrates the company's continued commitment to accelerate the development of its proved reserves," managing director Steve Voss said.

"Drawdown pressure of the Tilodiran wells is less than 10% of reservoir pressure indicating additional fluid deliverability potential."

Global said it had installed additional temporary surface equipment and was planning to install permanent surface facilities to handle the increased production volumes within the Rio Verde field area.

[crosswire] 08/6/2011 11:59

In 2005 these were 300p!!

Only 36m shares in issue!

9m freefloat!!

[nils214] 08/6/2011 11:08

what amazes me is that all these buys are coming in now, where were they when the price did hit 60pps? They should have been adding like the smart investors were!!

[wooster4] 08/6/2011 11:04

nils - don't bother!!

[nils214] 08/6/2011 11:01

hello bin, thought you were dead...no cash lol, check the revenues coming in now. Also they did previously mention in their report that they are seeking ways to fund their 3 year programme to accelerate increased production, and they are considering farming out some of the assets. They need to drill something like 300 wells across all their acreage and it just won't be possible for a company as small as GED to do it, so yes you might be right, but any major looking for large 2P reserves will be very interested now that the workover has had such an increase in production. Add in T4 and T5 if successful and we could be looking at in excess of 3000 bopd. That in itself should add another 50pps at least, taking us to 150-200p in 2011. Any farm in deal should also help to rerate the shares. This is not HAWK!!

[binladin] 08/6/2011 11:00

sp has gone here and then down again.....to 60p level......