Global Energy Development Share Discussion Threads

[on target] 24/11/2014 17:24

Are you aware that GED will shortly be receiving c.£32m in cash Anangf?

[anangf] 24/11/2014 14:32

Let's hope they can monetise the reported reserves. Either worth zero or a big number.

[on target] 24/11/2014 12:21

70k buy earlier - that's what woke this up.

[on target] 24/11/2014 12:00

Thanks for the honest reply wilk. Hope you get another opportunity to buy in before the (imo) much bigger bucks to come.

[wilk1] 24/11/2014 11:46

Ok, you got me, I bought for a quick buck but thought it would take longer. ( large wish/watchlist and limited funds has turned me into a trader ) I didn't expect a decent 14% rise today so I did the best thing for myself and booked the profit.

[on target] 24/11/2014 11:30

What was the plan?

[wilk1] 24/11/2014 11:09

I bought 10k at 46.9 but have just sold at 52.7. That wasn't the plan but a tidy £570 after costs in 2 1/2 hours, had to take it. Still v cheap though.

[on target] 24/11/2014 10:59

The expected closing date for the sale is the end of this week unless it gets delayed. So possibly some moving in ahead of that?

[hyperboreus] 24/11/2014 10:21

A few meaty buys this morning causing the share price rise.I gave up second guessing in GED a long time ago therefore won't speculate as to why.

[salpara111] 17/11/2014 13:55

And yet the share price is a few pennies off its all time low!
Delivery is everything the rest counts for nothing in the brave new world!

[on target] 17/11/2014 13:23

There are indeed plenty of struggling small oilers. These usually have very little cash and rely on constant placings to punt on relatively low impact plays and don't usually have much in the way of proven reserves. Whereas here we will have an oiler with a large lump of cash in the bank of the order of twice the current market cap, no debt, a lot of proven reserves and free carries in a series of relatively high impact drills / workovers thanks to the recent farm-out agreements. So an altogether quite different prospect in my opinion.

[on target] 17/11/2014 13:18

Yep, no announcement of what the funds will be used for until after the closing of the transaction. This is expected to be 28/11 according to the Platino announcement so not long to wait.

[salpara111] 17/11/2014 13:13

I was looking for an announcement of a large capital distribution via a special divi of at least 15p but no announcement so I guess the market is disappointed as I am.
The market is taking the view that the management will just spend the cash over the next few years and have nothing to show for it, pretty negative but just look at all these small oilers, virtually all of them have failed to deliver over the last 5 years and investors are simply not willing to continue financing overpaid management teams going forward.
They really are betting the farm on getting good drilling results in the near future....clearly if that happens the share price will re-rate dramatically and could be back to £1 in short order but in the current market no one is going to give you the benefit of the doubt.
I will continue to hold onto my current holding but am not going to add to it without concrete positive news.

[on target] 17/11/2014 12:56

Yes it's very puzzling.
So what's stopping you from doubling up now? Just trying to understand the market's apparent uncertainty here.

[salpara111] 17/11/2014 12:22

Well, that is a little bizarre!
I was going to double up first thing this morning but decided to hold fire.
So we now have a situation where the business is worth 84p a share in cash and the share price is 46.5P.
I really do think the company should be wound up but the big holders will not let this happen as they are just there to milk the cow and now there is a big pool of cash to drink from.
Like so many holders I am well underwater....I would need the 84p just to get me to break even but right now I would bite your hand off to get out of this for breakeven.

[on target] 17/11/2014 11:31

RESULT OF GM

Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED) with operations in Colombia, announces that at the General Meeting ('GM') of the Company held today, the resolution was duly passed.

[on target] 14/11/2014 14:29

Wonder if there'll be a last minute rush today?

[on target] 14/11/2014 13:45

Can't believe how quiet this is. Meeting on Monday morning (formality as majority holder(s) pledged to vote in favour). Expected date for closing is 2 weeks today (28/11). $50M cash winging its way to GED.

[on target] 12/11/2014 12:59

Yesterday's drop was caused by a 30k sell @ 46p (shown after close), nothing sinister. Quite an illiquid share this, so once the market catches on it won't hang around.

[salpara111] 12/11/2014 12:17

Well if they can get another $50M for their remaining licences then why not...take the cash and wind up the company and distribute over £1.50 a share to their long suffering shareholders!

[fuiseog] 12/11/2014 11:27

Of course they could do what they did with the Peru license and sell the business to a competent operator -:(

[salpara111] 12/11/2014 11:11

AT the last results net debt was about $10M and net cash was about $8.7M so a net negative of $1.3M, they are due to receive $50 so if we net off 1.3 we get $48.7M which is approximately £30.6M which means that the theoretical cash value of the business is 84p a share.
Clearly they will start to see a depletion in cash once they have sold the asset so the main question is....will they succeed elsewhere or just burn their way through the cash?
I really do feel that they should declare a special divi of at least 15p on completion of the transaction.

[on target] 12/11/2014 10:08

Surprisingly cheap considering they're about to have ~90p/share cash and no debt in a few week's time.
Is the market really asleep on this or is there a hidden catch somewhere?

[dewtrader] 11/11/2014 22:49

lets hope they dont plug and abandon due to emulsion being unworkable

Very leaky ship this, todays fall is obviously a worry

[fuiseog] 11/11/2014 22:34

I'm surpised the Company are not buying back at this level. Could they be in a close period?