Global Energy Development Share Discussion Threads

[hashertu] 10/3/2014 17:48

Hyperboreus. The 50% is an assumption, based on the working interest given in the RNS and having seen how other farm-in agreements operate.
I see nothing strange or downbeat in Mr Voss's statement. Mitigation of risk is the reason given by many other companies.

[hyperboreus] 10/3/2014 14:59

hashertu, where have you got your information from to say that Everest Hill will only pay 50% of the drilling program?

'Under the Agreement, Everest commits to undertake the funding of a work program with respect to the Contract Area (the "Work Program"), including an obligation to pay ALL future costs and expenses incurred with respect to the proposed operations:

(1) within one year of completion of the agreement, to re-enter and hydraulically fracture potential formations in two existing wells within the Contract Area; and

(2) within two years of completion, to drill and complete one new exploitation well in the Contract Area.'

Beyond that we have no idea what the written agreement actually contains.

One further point that I find slightly concerning is the 'downbeat' statement made by Voss:

'The Company is very keen to re-commence its activities in the Middle Magdalena Basin. This agreement not only provides us with the funding for a three well progamme but it also allows us to share the RISKS as we jointly develop the Company's largest asset base.'

What about the possibility of REWARDS Mr Voss?

Anyhow as I previously stated I will hold as one way or another I might just have an entertaining GED anecdote if nothing else to relay to my grandkids on the perils or otherwise of investing in a Columbian Oil Play :-}

[loafingchard] 10/3/2014 13:30

It may do given a little patience ;)

[salpara111] 10/3/2014 12:51

well I am now back at b/e woohoo!
not sure if I should just cut and run at this point as I too am pretty underwhelmed by what has been acheived.
I think I might wait till the upcoming results but not sure if that will bring anymore upside.
I had hoped that the farmout would have taken the share price back to the 110-120 region but apparently not!

[hashertu] 10/3/2014 11:11

Hyperboreus.
The RED plan from last September, and today's RNS, do not necessarily contradict.
The three well farm in gives Everest 50% of the Bolivar JV when completed.
Going forward, Everest will pay 50% of the drilling program, which might well be 6 rigs, 252 wells.

GED still retain 100% of Bocachico, Llanos etc (ignoring royalties).

I still hold, hoping to make a significant capital gain.

[milogleeson] 10/3/2014 09:05

What are the odds on inclusion in the usual ST Monday e-mail.

[winsome147] 10/3/2014 08:08

Great news! Now we can finally start realising our investment as the oil starts flowing. I'm not too concerned about who they partner with. A $5m payment upfront shows solid commitment. Why go with one of the bigger boys like BP or Shell who constantly juggle their priorities and throw their weight about. I don't see any great advantage or disadvantage either way with their chosen partner. Just happy that things are going to progress quickly now.

[wooster4] 10/3/2014 07:25

no pleasing some people - in this environment, any deal is a good deal.

[philo124] 10/3/2014 07:17

Good return to 100p imo.

[wooster4] 10/3/2014 07:06

farmout news

[hyperboreus] 06/3/2014 14:05

One or two meaty buys in the last few days which is encouraging, interesting and unusual as of late in GED:

4/3 66,000 @ 73.0p
6/3 35,000 @ 74.73p

The recent spike in WTI has got to be helping profitabilty.

[hyperboreus] 03/3/2014 16:16

Salpara111 whether you like it or not HKN & their concert parties own 60.5% of GED and the management of GED have all been or are still employees of HKN so absolutely no chance of anyone being dismissed.

Interestingly the Substantial Shareholders as at 31 Deccember 2013 has been updated on the website:
Holder Shares Held % Held
HKN, Inc. and Parties in Concert 21,849,016 60.50%
Fidelity Worldwide Investments 2,049,718 5.68%
Hargreaves Landsdown Asst Mgmt 1,453,101 4.02%
Barclays Wealth Mgmt (UK) 1,238,321 3.43%
Thelese (Mr & Mrs D Worley 1,267.154 3.51%
TD Direct Investing 841,433 2.33%
Selftrade - Talos Securities 496,351 1.37%
National Financial Services 487,300 1.35%

As of 31 December 2012 holdings were as follows:

HKN + Parties 60.94
Fidelity 9.77
First Eagle 3.19
Mr & Mrs D Worley 3.02
Credit Suisse AG 1.87
National Finance Services 1.52
Brewin Dolphin 1.45
Barclays Wealth 1.45

Fidelity, First Eagle & Credit Suisse have been offloading whereas Hargreaves Landsdown & Barclays have been adding.

We shall soon see who got it right or wrong fairly soon imho

[mdara] 03/3/2014 12:52

My guess is the big holders are kept in the loop, have a long term view and know that this share can move fairly significantly in a short period of time. Upwards we hope and pray and plead :)))

[hyperboreus] 02/3/2014 13:27

You need to have much more patience to be a GED shareholder Salpara111.
Anyhow you might as well hang on until the end of this month at least as Annual Results will be out by then and you never know they might just surprise us all with some other stuff as well.

Wow is that a member of the Suidae family that has just flown over my house? :)

[salpara111] 02/3/2014 12:55

And down it goes....I hav'nt been holding that long but I am sick of waiting for this supposed "transformative farmout"

[xow98] 20/2/2014 08:55

I have been looking at the company website, which I have not done for a long time. Is the Virtual Data Room on the website in relation to the hoped for farmout?

[fuiseog] 17/2/2014 21:00

We'll have Annual Results in about 5 weeks time (27 March last year). It wouldn't be asking too much to request an operations update prior to that. Just to let us know that they've not all been asleep at the wheel.

[salpara111] 17/2/2014 18:05

Well, we are all still waiting on the transformative farmout that they have been working on for over a year now.

[paleje] 17/2/2014 09:20

Valid points Hyperboreus, I skimmed back over a few posts, few of us dig deep enough before entry then find ourselves tunneling deeper when the share price fails to perform.

[hyperboreus] 16/2/2014 12:43

Hkn & their concert parties, lethargy of GED board and lack of subsequent accountability are all contributory factors to the share price but what has happened to Hkn shareholders has concerned me for some considerable time as a number of my previous posts will verify.


Had I known then what I know now when I orinally invested in GED I wouldn't have touched it with a barge pole but that was down to me not looking behind the scene enough.

I think it is very unhealthy to have the main men (Voss & Faulkner) running Global who have or are still on the Hkn payroll.