Global Energy Development Share Discussion Threads

[geraldton1] 28/8/2013 08:31

Its an ill wind but all this stuff going on in Syria has certainly benefited the oil price of late. WTI is now over $110 - all additional margin for GED. With the cost saving measures in place, as well as the hope of finally signing a decent partner to work with on their significant asset at Middle Magdalena...maybe GED shareholders will have a decent end to the year/Xmas!! Must admit a cash bid of 200p+ a share would be my preferred outcome...

[philo124] 27/8/2013 22:47

Well, I've missed selling above 120p twice; hopefully my 11 year old son will
will trade on charts and not be a LTH.

[hyperboreus] 27/8/2013 22:39

Just a little snippet from IC today in Simon Thompson's comment section:

'Investors are buying shares in Global Energy Development ahead of the forthcoming results in late September and equity research house Equity Development has been positive on the shares. I remain positive, too, even after the 25 per cent price rise last week. If anything the chart action is more supportive now than a week ago as the 70p base now looks in place and a break-out on the back of the results is very likely in my opinion.'

[rcturner2] 26/8/2013 15:33

He has revisited the tip a number of times and reiterated the initial advice.

[gingerplant] 26/8/2013 14:58

Well, FWIW, the IC's Simon Thompson tipped them at 103p just before Christmas and has a a target price of 140p.

[philo124] 23/8/2013 20:49

Thanks, still here as well.!

[lowflow] 23/8/2013 20:47

I think geraldton1 is right. GED management has not been in London meeting investor since September/October last year. In the past they use to come to London every 3-4 months. But over the last 12 months they haven't been here meeting investor as they have not had anything positive to present. Now the management has been quiet for a very long time and suddenly they are coming here so they clearly have something to say.
1 month to go to the H1 report and the London roadshow.
Stock should go higher into these events.

[waleoilbeefhooked] 23/8/2013 16:28

RCT, something else me thinks .....

[rcturner2] 23/8/2013 14:54

A bit of action here.

The IC coverage or something else?

[geraldton1] 23/8/2013 09:19

Interestingly they have taken on board a decent outfit in Equity Development to help spread the word - this has been done ahead of interims, so its hard to believe they would do this if they didn't have good things to say!

See below:

Good morning,

With half year results due out in September, the management of Global Energy Development (AIM:GED) will be meeting with investors on the 24th September.

GED is a Columbian focused oil production and reserves development company. The investment case has two main features:
1. GED generates significant profits from oil production within the Llanos Basin of Colombia, South America. The focus here is to maximise production volumes, reduce operating costs and utilise cash flow to...
2. Exploit excellent development opportunities. Interest has increased in the past few years in shale oil throughout the oil industry and specifically within the Middle Magdalena Valley contract areas (Bocachico and Bolivar Association Contracts). The adjacent or nearby activity by major oil companies, including ExxonMobil and Royal Dutch Shell, indicate GED's Bolivar properties are within the premier area of the Middle Magdalena Shale Oil play.

At this depressed valuation the company is being valued at only £27m, or almost half net asset value of £52m

GED has experienced some delays in finding the right strategic partner with the technical expertise and financial resources to accelerate the pace of development of the reserve-rich property. This has undoubtedly dampened sentiment. But the company can afford to be patient; at the end of last year, net borrowings of $11.6m equated to a modest 14 per cent of net assets of $80m (£52m), so there are no funding concerns.

If you would like to meet with management please let me know by email [e-mail] or phone: [phone].

[fuiseog] 23/8/2013 08:40

Sounds good. Is it available to non-subscribers? Is there a link?

[philo124] 22/8/2013 21:34

Thanks a lot .

[mdara] 22/8/2013 10:18

Oops James beat me to it :)

[mdara] 22/8/2013 10:15

Hi Geraldton,

Yesterday in Investors Chronicle Simon Thompson had an article on Polo entitled "Golden Nugget"

In the comments section following the article he was asked about GED.

He seems to be very very bullish about The company and thinks it will seriously impress.

At least that was my take on it lol :)

[james1231] 22/8/2013 10:14

ST at the Investors Chronicle seems to think we will see a rerating after the results next month. His article is available online.

[geraldton1] 22/8/2013 10:06

Anyone any thoughts on this one? I'm expecting the interim results next month to make pleasant reading. The shares have drifted back on no volume - perhaps its time to revisit it?

[lowflow] 14/8/2013 10:05

Pacific Rubiales looking for acqusition target in Colombia.

-------------------------------------------------------------

Pacific Rubiales Scouring for Colombia Oil Acquisition, CEO Says
2013-08-14 04:00:00.11 GMT


By Andrew Willis
Aug. 14 (Bloomberg) -- Pacific Rubiales Energy Corp., the the world's fastest-growing major crude producer, said it's looking to buy a low-density crude producer in Colombia in a bid to reduce the cost of transporting its mostly heavy oil.
The company buys gasoline on the international market and blends it with heavier oil before sending the mix to port at a "huge cost," Chief Executive Officer Ronald Pantin said yesterday in an interview from his Bogota office.
"There are light oil companies in Colombia that it would be a no brainer to get their production," Pantin said. "We are looking. We are not in negotiations. The moment is now but you need two to tango."
Pacific, run by the ex-Petroleos de Venezuela SA executive who left in 2000 as then-President Hugo Chavez stepped up control of the state company, boosted output sevenfold over the past five years by plying the Rubiales field, Colombia's largest. Pantin didn't rule out a bid for Calgary-based Petrominerales Ltd. as he seeks new growth opportunities.
"It's a great company, they have a lot of light oil," he said. "I am not negotiating with them. I am keeping an eye on all of them."

Share Slump

Petrominerales, which produces mostly from fields in Colombia's Llanos basin, reported a 31 percent decline in second-quarter production. July output rose and the company has opportunities to continue growing, Petrominerales Chief Executive Officer Corey Ruttan said in an Aug. 9 interview.
Petrominerales shares have slumped 29 percent this year in Toronto and trade at 10.67 times estimated 2013 earnings, according to data compiled by Bloomberg. Pacific Rubiales has lost 14 percent and fetches 10.78 times forecast profit, the data show. Rubiales' market value is $6.23 billion compared with
$501 million for Petrominerales.
Pacific's compound production growth over the last five years is 47 percent, the fastest among 109 producers with a market value of at least $5 billion tracked by Bloomberg. The group average is 8.4 percent growth, the data show.
The company's shares fell last week after reporting net income of $57.6 million, or 18 cents a share, down from $224 million, or 76 cents, a year earlier. The fall was largely caused by a 5.1 percent drop in the Colombian peso, lower oil prices and a depreciation of assets.

Beating Target

Pacific will surpass its 2013 output target and is "sure"
it will secure soon a license for the CPE-6 block, Pantin said.
The top range of the company's forecast for this year is an average net daily production of 127,000 barrels of oil equivalent. Rubiales accounts for 65 percent of the company's production, according to a July presentation.
"We're going to be higher," Pantin said. "Why am I saying that? Because of Peru, Cajua, Sabanero and CPE-6."
Pacific Rubiales, which had licensing delays for its CPE-6 block in Colombia's Llanos basin, now expects a blanket exploration and development license from Colombia's environmental agency known as ANLA within three to six weeks, Pantin said.

[philo124] 14/8/2013 08:20

Thanks a lot for trying.

[rcturner2] 14/8/2013 07:59

A mysterious missing post!

[lowflow] 12/8/2013 14:40

Its a tricky company when they never update the market on what they are doing. Over the last 6 months its seems like the GED management has become even more quiet than in the past.
I have been trying to call Steve Voss over the last 3-4 months to talk about what's going on with the different projects. But it has been impossible to get him on the line. Usually I get to his secretary and while he is always in a meeting or a telephone conference. Last week he did pick up his mobile when I called him, but I could hear that he was in the car so I quickly realized that this call was not going to last for too long. He said that he was in a good mood but that he was driving to a meeting so he couldn't talk but that I could call him later in the day when he would come back to the office. I tried to call him later the same day but I was just getting the secretary who said that he was in a meeting or something else.
I guess is have to be patience and wait until they will release the next five sentence long operation update.

[philo124] 12/8/2013 14:16

Thanks. Still holding; should have sold at 120p....twice!

[lowflow] 12/8/2013 14:11

Colombian E&P company, Vetra being acquired by private equity firms. The price tag was $495m.

Vetra was producing 6100 bopd during the first half of the year so roughly 4-5x as much as GED but the acquisition price was 8x GED market cap.

--------------------------------------------------------------------------------


ACON And CIPEF Acquire Vetra, One Of The Largest Independent Oil & Gas Producers In Colombia
BOGOTA, Colombia, July 30, 2013 /PRNewswire/ -- Capital International Private Equity Fund VI, L.P. ("CIPEF VI") and an affiliate of Acon Investments LLC ("ACON") have jointly acquired Vetra Energia, S.L. ("Vetra"), one of the largest privately held independent oil producers in Colombia. The sellers include Inveravante, an investment firm based in La Coruna, Spainaffiliated with Mr. Manuel Jove Capellan, as well as several minority shareholders of the company. Inveravante and its partners retain their stake in Monclova Pirineo Gas S.A. de C.V., an oil services company that operates four blocks in Mexico, that was spun off from Vetra.
With significant exploration and production in the Putumayo, Llanos and Middle Magdalena Basins, Vetra's net production during the first half of 2013 exceeded 6,100 bpd. As a result of successful drilling programs in the company's Cohembi (Putumayo) and Santo Domingo (Llanos) fields, the company's net production for the first half of 2013 has increased by 68% year-over-year and reached a record 8,243 bpd on June 30th, 2013.
The company's development portfolio aggregates over 18 MMBbls of net proved and probable reserves certified as ofDecember 31, 2012, which are expected to increase materially in the June 30, 2013 reserve certification due to the successful drilling program in the Cohembi field as well as the positive results from the water-flooding program initiated in December 2012.
In addition to its producing assets, Vetra has an extensive portfolio of exploration concessions awarded by the Agencia Nacional de Hidrocarburos ("ANH") during the 2010 and 2012 bidding rounds. These concession blocks are distributed between the Putumayo and Llanos Basins and represent a significant upside opportunity for the company.

[mdara] 07/8/2013 18:41

Or just more of "let sleeping dogs lie"?

[foreverhoping] 28/7/2013 20:59

Bit of news this week would be nice. Paint is dry