Member Info for Cliveas

re RNS 23/06/11 Eurovestech is pleased to announce that it has received £25 million in cash from ITWP Acquisitions Limited ("ITWP") in accordance with ITWP's commitment under the terms of the scheme of arrangement for ToLuna plc ("the Scheme of Arrangement"). Eurovestech continues to hold loan notes with a nominal value of £12.2 million and approximately 10 per cent. of the issued share capital of ITWP, the holding company of ToLuna Limited (formerly ToLuna plc). ITWP may redeem the remaining loan notes before 30 June 2012 and to the extent such loan notes are not redeemed, they will be converted into shares in ITWP. At the time of the announcement of the Scheme of Arrangement, Eurovestech provided an indemnity up to a maximum liability of £2.6 million which was payable in certain circumstances. This indemnity has now been extinguished at no cost to the Company. It is the current intention of the directors of Eurovestech to recommend the return to shareholders of in excess of half of the £25 million proceeds and will provide an update as to the most appropriate method of capital distribution following consultation with the Company's major shareholders. I have had this reply to my e mail re update : I can confirm that the company will be providing an update on this within the next two weeks. Kind regards, Richard Bernstein Chief Executive If I use a figure of 13 million (over half) this equates to approx 4p share divi or 30% return!! or have I got it wrong???

Will we get any news from AGM tomorrow? Any Thoughts? Note a director exercised options and sold in May.

from iii Global in production boost 20/06/2011 Miles Nolan Latin America focused oil explorer Global Energy Development (GED) has given shareholders a shot in the arm with news of another surge in production. Earlier this month the AIM counter reported that following a successful workover programme oil production had doubled from 1,100 bopd to 2,200 bopd. However, this morning Global has confirmed that thanks to further efforts at its Tilodiran 2 and 3 wells, production is now at 2,520 bopd. Global has improved its surface handling capabilities to meet the increased oil flow, and the current level of production is now at a sustainable level. In addition, the company plans to step up pump speeds to ascertain how much further it can boost the now much higher level of production. Due to the high quality of oil being produced it has managed to secure sale prices at higher than the current WTI oil price - further helping margins. Last week Global confused investors with news of a cash offer at 72p a share. This was triggered after a forced seller allowed shareholder Lyford to pick up a 9.7 per cent stake at just 59.2p a share, this in turn meant (under the rules of the Takeover Code) that an offer had to be made due to the link Lyford has with Global's largest shareholder HKN - a US listed oil company. Global directors have refused to back the offer, stating it 'materially undervalues' the company, indeed the intention is to maintain the AIM listing to deliver a more realistic market value. Recent deals in Colombia have led to deals transacted at $60,000 per bopd, on its current production this would equate to a price for Global in excess of 250p a share. At 90p, the shares remain significantly undervalued.

Fantastic RNS now up to 2520 bopd and all being commercially sold above wti! I believe the directors are holding a presentation on the 28/06 I wonder what else they have up their sleeves.IMHO this will/should move steadily upwards until rerated!

Is now underpinned at 72p only way is up IMHO!

Are bidders starting to line up? 16 June 2011 HKN Inc. ("HKN") Increased investment in Global Energy Development plc ("Global") Mandatory Cash Offer for Global Independent Directors of Global recommend Shareholders do not accept the O333ffer Summary § Earlier today, Lyford announced that it had acquired a beneficial interest in Global through entering into an agreement to acquire 3,565,936 Global Shares, representing an interest of approximately 9.97 per cent. in Global, from the United States Marshals Service (the "USMS"), at a price of approximately US95.9 cents per Global Share (equivalent to approximately 59.2p per Global Share based on a closing mid exchange rate of US$1.62:£1 on 15 June 2011) (the "Acquisition"). Following completion of the Acquisition, Lyford will be interested in 8,897,236 Global Shares, representing approximately 24.88 per cent. of the issued share capital of Global. § Lyford is a company incorporated in the British Virgin Islands which is controlled by Brean. Brean also controls approximately 52.8 per cent. of HKN, a US company traded on the NYSE Amex, which in turn holds approximately 33.25 per cent. of Global's issued share capital. § Phyllis Quasha, who controls Brean, also controls Evansville, which in turn holds approximately 0.49 per cent. of Global's issued share capital. § In addition, Mr Mikel Faulkner, a director of 3both HKN and Global, holds approximately 0.66 per cent. of Global's issued share capital. § For the purposes of the Code, Phyllis Quasha, Brean, HKN, Evansville and Mikel Faulkner are deemed to be acting in concert with Lyford (together, the "Concert Party"). Immediately prior to the Acquisition, the Concert Party was beneficially interested in approximately 49.31 per cent. of Global's issued share capital. Following completion of the Acquisition, the Concert Party will be beneficially interested in approximately 59.28 per cent. of Global's issued share capital. § As a result of the Acquisition, under Rule 9 of the Code, the Concert Party is obliged to make a mandatory cash offer to acquire the entire issued share capital of Global not already owned by members of the Concert Party, conditional only upon HKN receiving such acceptances which will result in the Concert Party holding more than 50 per cent. of the Global Shares. Accordingly, following consultation with the Takeover Panel, HKN is announcing the terms of a mandatory cash offer to be made to the shareholders of Global at a price of 72p per share. § The Offer will comprise 72p in cash for each Global Share valuing the whole of Global's existing issued share capital at approximately £25.8 million. § The Offer Price is final and will not be increased. § The Independent Directors of Global recommend that Global Shareholders do not accept the Offer.

Global Energy set for lift-off 14/06/2011 Miles Nolan South America focused oil explorer Global Energy Development (GED) looks one of the most undervalued stocks on the market, particularly in light of a recent production update. For some time the AIM counter has been seeking ways to develop its huge oil exploration area, largely in Colombia. However, last week it gave shareholders a shot in the arm with news of a doubling of its oil production - from 1,100 bopd to 2,200. bopd This has been achieved by a successful workover on its existing Tilodiran 2 and 3 wells. The news set the shares alight, but the price has since retraced most of its gains. But of particular interest is the fact that Colombia remains a highly attractive market for oil producers, with recent corporate transactions yielding an average of $60,000 per barrel of oil produced. If Global were to hoist the 'for sale' sign on its assets this would equate to 228p a share - a significant hike on the current share price of just 75.75p. In the statement managing director Steve Voss also alluded to scope for an increase in production, due to a drawdown pressure of less than 10 per cent. With the WTI oil price at $99 the hike in revenue will help fund further drilling efforts across its wide acreage - Tilodiran 4 is next to be drilled. Next year there should also be further news on the farm-out deal with Canada listed giant Gran Tierra Energy on its Peru license - last drilled in 1974 it then produced 800 bopd. At a current valuation of just £27 million the shares have much further to go, particulary in light of an expected swing into the black in the first half of 2011. Further news is likely in the near future, indeed the AGM is planned for 28 June, when the directors will be in London to confirm the potential of the group. By TouchingSkies

Flushing out the weak pi's and accummulating!

For shares bid 97.5 ask 103!

There are four separate debt agreements outstanding: BBVA: USD3mm @ 7.5% (doesn't appear to be fully drawn) HKN: USD5mm @ 10.5% (again, doesn't appear to be fully drawn) 2006 convertible loan notes: USD11.303mm (dated 8 December 2012) 2005 convertible loan notes: USD5.798mm (dated 30 October 2012) The loan notes carry a step coupon, but basically it is 6% and 7% for 2011 and 2012, respectively. The loan notes are convertible (contrary to my early post) but I'm not sure we'll be to concerned if they are converted as the 2006 notes are convertible @ 179p and the 2005 notes are convertible @ 305.8p (conversion on these terms would only result in an additional circa 4.5mm shares). With the increased production and revenue stream these service costs are more than manageable and the company has adequate cover (the position only improves should the pipeline constraints be resolved). Capital commitments As mentioned above, the company is committed to drilling two additional wells in Columbia and the stated cost is USD21.294mm. Question: how are these wells to be funded? The company had cash at 31 December 2010 of USD7.344mm. I think I'll be making a 'phone call tomorrow to speak to the company. The news today is excellent and will result in significant incremental profit and cash flow, if the pipeline constraints are resolved then this company will be making serious money. 2011 In addition to its existing producing assets in Columbia the intention is to drill a further two wells in the same range as the existing producing wells in 2011 and drill in Peru in 2011. The Peru drilling programme is funded by its partner to the tune of USD15mm following a farm-out agreement and the company received USD2mm in respect of past costs (GED retains a 40% interest in the drill). So, today's announcement marks the start of a busy period for this company. Today's news is fantastic but there really does appear to be a lot more upside potential that can be delivered in 2011. T21 p.s. The company was subject to several unsolicited expressions of interest in 2007

OK, I've done some analysis on the financials: If you take a look at the most recent financials (31 December 2010) a few things jump out at you immediately: 1. increased cost of sales 2. reduction in gross profit margin 3. increased admin costs 4. debt servicing costs/debt levels 5. capital commitments Increased cost of sales The company states that this is a result of pipeline capacity constraints in Columbia and the additional costs associated with trucking production to market. The company only produces from two wells in Columbia (Tilobiren 2 & 3) - which were the subject of today's excellent RNS. So we have to assume that unless these capacity constraints are addressed the increased cost of sales is here to stay and so will increase proportionately with the increase in revenue. Question: are these pipeline capacity constraints a short-term issue (seem to have only arisen in 2010) and what is the timeframe for resolution? I will look to raise this with the company. Reduction in gross profit margin This is inevitable as it flows from the increased cost of sales. However, the GP margin was 27% and 37% in 2010 and 2009, respectively. This reduction is purely linked to the Columbian pipeline capacity constraints and as soon as that is resolved you would expect to see a return to a more normal GP margin along the lines of 2009. So, whilst today's news is excellent if the company can follow-up with a positive announcement on the Columbian pipeline this company is going to start making some serious profit. Even with the constraint identified the numbers that I have crudely calculated taking into account the doubling of production and applying to the 2010 numbers are impressive (from where the company was in 2010): GP: 2011: USD10.693mm; 2012: USD12.832mm (2010: USD5.159mm). I've also calculated PBT numbers assuming admin costs remain constant and debt service costs remain circa USD1.8mm: PBT: 2011: USD2.335mm; 2012: USD4.474mm If you applied a GP margin of 37% (2009) the figures that flow through are even more impressive. Increased admin costs The company are ramping up their Columbian operations (and who can blame them when those additional costs result in a doubling of production). Also, is this additional cost linked to the need to drill two further wells in Columbia by the end of 2011? Interestingly the RNS dated 12 October 2010 state that the wells (or at least one of them) must be drilled by 1H 2011 whilst the financials state that these drills must occur within 2011. The actual timeframe for these two drills needs to be clarified by the company and quick. Debt servicing/debt levels The company does at first glance appear to be carrying material debt, but I think this now needs to be weighed in light of today's announcement. I have calculated the debt servicing costs for 2011 to be circa USD1.8mm.

Up to double output & your are worried about opec! LOL!

Steve Voss, Managing Director, commented: "The workover programme completed on the Tilodiran 2 and 3 wells within the Rio Verde contract area demonstrates the Company's continued commitment to accelerate the development of its proved reserves. Drawdown pressure of the Tilodiran wells is less than 10% of reservoir pressure indicating additional fluid deliverability potential. Given the current oil pricing environment, we believe these workovers are instrumental in our steps to advance the realisation of cash-flow and enhanced value for our shareholders." Can'T buy at the mo!

Topped up and holding for lift off!

If you can I believe this is being held down! End price 80p+

Can't buy but will let me sell t 40.9! Hold and await the BOOM!

Big contract renewal and previous RNS's show institutions building a stake.Over 70% of shares now held.I will take a med term position here as see good potential for sp over next few months.

Buys at 3!!!

Buys at full ask 2.7!

Something is brewing!