Global Energy Development Share Discussion Threads

[johnwise] 03/7/2012 10:55

Reassuring seeing Directors buying:

RNS Number : 7678G

03 July 2012

For Immediate Release 3 July 2012
GLOBAL ENERGY DEVELOPMENT PLC
Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED) with operations in Colombia, was notified on 2 July 2012 that Mikel Faulkner, a director of the Company, has purchased a total of 10,000 ordinary shares of 1p each in the Company. Mr. Faulkner acquired the shares in one transaction on 2 July 2012 at 85p per share.

Following this purchase, Mr. Faulkner has a beneficial interest in 260,000 ordinary shares representing 0.72% of the issued share capital Company.

[flyingbull] 29/6/2012 13:02

Fancy a challenge!? The thread for the oil stock competition for July is now set up. Deadline for entry is midnight this Sunday. Good luck.



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[pyemckay] 27/6/2012 20:08

thanks for that update and also for attending the meeting today. I was wondering if anything else bar the CHOPS technology discussed that would be of interest. This share goes nowhere but I'm hopeful chops work or GED is for the chop from me. lol.

[hashertu] 27/6/2012 18:24

At the AGM today there were 2 shareholders (other than company employees).

Bocachico/CHOPS

I hadn't realised until today that GED are pushing the boundaries of what is achievable with CHOPS/PCP. The bespoke PCP built by Weatherford for Torcaz 5 is reportedly the longest PCP in the world. It seems the deeper you go, the longer the pump has to be (I guess it is a consequence of more pump stages you have the higher pressure you can generate).
Also, the drive shaft is changing to continuous tube from screwed 30 foot sections. This reduces the wear between drive tube joints and well liner.

As has been reported on this BB previously, most of the CHOPS technology is based on Canadian experiences. However they were operating at significantly shallower depths.

The first attempt to operate a PCP at about 4600 feet down did not work very well.

IF CHOPS can by made to work in the manner described in the June presentation then a number of benefits accrue over and above the ability to bring a large reserve base into production.
Well spacing can be increased, reducing CAPEX
Production decline rates are negligible over the first 18 months
The field recovery factor should improve. The current reserve figure is based on a 3.5% RF. This could increase by a factor of 3, leading to a upward revision of the reserves.

Bolivar field fracturing. GED are benefiting from all the activities in the Texas Eagleford Shale.
SV says that one of the most significant findings is that fracturing efficiency is dependent on the RATE at which water is pumped into the well (at high pressure). (I think he mentioned 100 barrels/min). At this rate, the water pulverises the surrounding rock which then acts as an abrasive opening up existing holes. Using this technique you don't need expensive proppants, ordinary sand will do. GED have sourced some suitable cheap river sand locally.

Let's hope the CHOPS experiments work.

[philo124] 20/6/2012 08:16

Good; clearly written and they seem to be getting on with things.

[fuiseog] 20/6/2012 08:12

pdate this morning.

Immediate Release 20 June 2012



GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

UPDATE ON DEVELOPMENT AND OPERATIONAL PROJECTS

Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED), with operations in Colombia, South America is pleased to announce the following update regarding its ongoing development and operational projects in the Middle Magdalena Valley and the Llanos Basin.

TORCAZ: CHOPS - Torcaz Field, Middle Magdalena Valley

CHOPS (Cold Heavy Oil Production with Sand) Project - Torcaz #5 well

The Company has contracted with Weatherford International, Ltd. for a progressive cavity pump (PCP) which can be placed at a depth of approximately 7,900 feet. Continuous rod drive equipment will be utilized to power the PCP pump below the perforations in the Lower Mugrosa B formation. This PCP pump setting will help ensure proper oil and sand production and lift from the wellbore. The Company will test the well to analyze oil and sand production to determine the final separation facility design. The Company has committed to the workover rig required to undertake well operations, and the rig began moving to the Torcaz field yesterday. Workover operations are estimated to begin within 3 to 5 days. Well testing is expected to begin in mid July.

RIO VERDE PRODUCTION - Tilodiran Wells, Llanos Basin

Ongoing oil production operations in the Rio Verde field (Tilodiran wells) experienced lifting equipment outages and the Company was required to perform a workover operation on the Tilodiran #2 well in order to replace a damaged pump. Production from this well was offline for approximately 65 days while a workover rig was contracted and moved in but has been restored following the pump replacement. In addition, the Tilodiran #3 well suffered downtime, but the Tilodiran #3 is currently producing naturally at improved stable rates. Even with these outages, the Company continues to anticipate that revenue for the six months ended 30 June 2012 will be in excess of the prior year interim period.

Lastly, operations to convert the existing Rio Verde #2 well into water injection service for the Tilodiran field were slightly delayed while the workover rig was utilized for the Tilodiran #2 workover. The Rio Verde #2 project is now currently underway and is expected to be completed in July thereby reducing Llanos water disposal costs. This project is expected to reduce water disposal costs per barrel of water from approximately $5.00 to approximately $1.00 providing monthly savings of over $250,000 per month.



For further information please contact:

Global Energy Development PLC

[foreverhoping] 15/6/2012 16:32

surprised by lack of comment on recent news re Peru contract

[wooster4] 15/6/2012 11:27

more director buying!

[flyingbull] 30/5/2012 13:03

The monthly oil stock competition for June is now open. Deadline for entries is tomorrow midnight 31 May 2012.

Good luck.
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[lowflow] 30/5/2012 12:49

The company said that they would put out an operational update the first week of June. We can only speculate what the operational update will address.
We do know that the chairman of the board bought more shares the 2 and 8 May, so I would be surprised if the update was negative.

[foreverhoping] 30/5/2012 08:19

lowflow, are you hopeful or have you come across some info?

[lowflow] 29/5/2012 22:04

The company will come with a operational update next week.

[davidwilkin] 27/5/2012 13:12

Tried a dummy sell on Thursday of 9138 shares - got offered 84p.

Need some news here and soon.

[foreverhoping] 25/5/2012 19:33

another week of no news. if this is the transformational year for GED then they need to get a move on!

[pugugly] 18/5/2012 14:24

WNTS offering at 95. I wonder how many they are sitting on and how much they paid?

Possiblity of a big dump ?

Thougths ?

[johnwise] 18/5/2012 09:27

MMs will continue to try to play the Greek card to get as much cheap stock as possible..

[lowflow] 17/5/2012 16:23

GED did use to have a chart over 2011 monthly production in some presentation for 2011. I can't find this chart, does anyone else on the forum happen to have it?

Thanks

[johnwise] 11/5/2012 10:44

Global Energy (GED)
Forward P/E

31-Dec-12 P/E 8.9

31-Dec-13 P/E 7.4

Forcasts:

31-Dec-12 Revenue 29.49(£m) Pre-tax 29.49(£m) EPS 11.11p P/E 8.9 Growth +198%

31-Dec-13 Revenue 31.55(£m) Pre-tax 6.64 EPS 13.24p P/E 7.4 Growth+19%

[johnwise] 09/5/2012 17:32

Director buys again:

RNS Number : 9597C

09 May 2012

For Immediate Release 9 May 2012

GLOBAL ENERGY DEVELOPMENT PLC
(the "Company")

DIRECTOR SHAREHOLDING

Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED) with operations in Colombia and Peru, was notified on 8 May 2012 that on the same day, Mikel Faulkner, a director of the Company, purchased 4,750 ordinary shares of 1p each in the Company at 104p per share.

Following this purchase, Mr. Faulkner has a beneficial interest in 250,000 ordinary shares of 1p each in the Company representing 0.70% of the issued share capital of the Company.

[lowflow] 09/5/2012 15:10

Email me on [e-mail] and I will get the GS report for you.

[philo124] 09/5/2012 13:02

Another purchase; Goldman Sachs have raised GED from Neutral to Buy; anybody
got the note?

[lowflow] 03/5/2012 11:34

Chairman bought 10000 shares.

Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED) with operations in Colombia and Peru, was notified on 2 May 2012 that on 1 May 2012, Mikel Faulkner, a director of the Company, purchased 10,000 ordinary shares of 1p each in the Company at 102p per share.

Following this purchase, Mr. Faulkner has a beneficial interest in 245,250 ordinary shares of 1p each in the Company representing 0.69% of the issued share capital of the Company.

[philo124] 02/5/2012 01:54

Thanks lowflow; hadn't checked up on this for a while- a bit remiss of me.

[lowflow] 01/5/2012 23:44

GED main shareholder HKN Inc. buying more shares.

[lowflow] 22/4/2012 16:39

Plains Exploration & Production is apparently in the process of farming into the Middle Magdalena shale play. Plains were one of the first companies in the Eagle Ford and they have a very strong technical team.