Global Energy Development Share Discussion Threads

[fuiseog] 30/1/2013 14:30

"the Law introduces a new income tax (CREE tax) of 9%, while it eliminates certain contributions."

This starement clearly infers that there is some loss of write offs.

"The Company is currently assessing the effect of the new Law upon its financial information."

If the Company considers it necessary and worthwhile to take time to make an assessment I doubt (with due respect) that anyone on here is going to pre empt their conclusions at the drop of a hat.

Having said all that a 25% fall over the [past few weeks seems a little over done. It's very tempting to catch the falling knife, what with news 'imminent'.

[lowflow] 30/1/2013 13:39

The net number will be basically the same. Operating cost, admin cost and depreciation is all included in CREE. So the difference is very marginal.

[on target] 30/1/2013 13:36

Not necessarily lowflow. I'm not sure the CREE tax taxes the same thing as the corporate tax.

From your link:

"The tax base for the new CREE tax is net revenues less costs and deductions."

Is that the same as net profits which the corporate tax taxes, or could it be a higher figure?

[lowflow] 30/1/2013 13:27

The tax change doesnt mean anything for GED. Read the following article from Ernst & Young. Corp tax rate reduced with 8% and instead they pay a new CREE tax of 9% so 1% increase in corporate tax.




The change in Colombian corporate tax rate has been well known for at least 6 months.

Amazing that people are selling the stock based on this news release.

[adam] 30/1/2013 11:23

I like the way we are told long after some apparently very fortuitous selling.

[azalea] 30/1/2013 11:04

New Columbian tax law. Company assessing it's affects.

[rcturner2] 30/1/2013 10:49

I hope that isn't a nasty head and shoulders forming!

[wooster4] 24/1/2013 19:28

farmout news could also be coming!!

[lowflow] 24/1/2013 17:40

Something is cooking, do we have some unexpected news around the corner. Increased production from the Llanos operation?

[rcturner2] 10/1/2013 17:07

Just to say apologies if I have offended any holders here. Not my intention at all. I like to invest when the fundamentals and chart coincide. The RSI was very high and some sort of pull back seemed likely. If it goes to 75p that will be an absolute steal and I would be a buyer. At the moment it seems there is interest at 100p, so any fall below that seems unlikely. Obviously this is a tightly held stock and only a small number of sells drove the price down. I am still watching and waiting.

[rcturner2] 10/1/2013 15:57

Well the support line has held for all you holders, be interesting to see where it goes from here.

[azalea] 10/1/2013 15:33

Several facts S.Thompson may not have directly referred to are the major holder with 33.86%, the fairly small shares in issue(36.11m) and a maximum free float of just 15.64%.

[azalea] 10/1/2013 15:23

RCTurner2
I suggest you read your previous posts,especially 1769 -"I can see this dropping back to 75p. The charts are horrendous".

[norbert colon] 10/1/2013 14:05

I've been happy to pick some up for circa 102p over last couple of days.

[rcturner2] 10/1/2013 12:37

azalea - I never said it would fall to 75p. I said there is a support line of the SMA 50 at the current price and if that is broken then 75p/80p is a possibility.

[azalea] 10/1/2013 12:02

geraklton1
Forgive me for saying this, but at the very least I think you have missed the point.Here we have two posters agreeing that the charts are indicating not just a fall but to the same point of 75p! One has admitted to never having held the shares and given the other has yet to reply to my last question of when he/she bought, I suspect the same again. A coincidence, or an attempt to deramp the sp? You, me and others here know of the director purchases, and the other plus points raised by S.T. Lacking cash at the time of S.T. tip, I could only buy a small parcel yesterday. With a net NAV of 140p, oil prices rising, China exports and imports rising 14% and 6% respectively, the forecasts for 2012 & 2013 look feasible even before any potential farm out/disposals of its interests in shale oil properties. FY March results should be interesting.

[geraldton1] 10/1/2013 09:59

Come on guys chill out. If you think its good buy it, if you don't move on and go on another board. Though for the record, why on earth would it be going back to 75p...? Only if there is something fundamentally wrong and dont forget...the directors paid up to 110p only last month (before they went into a closed period). I would be inclined to take their belief in the stock over some geeky chartist view.

[azalea] 10/1/2013 08:47

santander
What day and time did your contract note state when you bought?

[snatander] 09/1/2013 17:30

I dumped mine when it started to plunge. Just in case we get sodom and gomorrah occuring here

[azalea] 09/1/2013 17:18

Ah! Thank you. That just leaves Santander to tell us where he/she is coming from.

[rcturner2] 09/1/2013 17:09

I personally have never held. I have been watching since it was covered by the IC.

[azalea] 09/1/2013 17:01

Santander & RCTurner2
Does that mean you have both sold, or never held in the first place?