NAUT.L Regulatory News (NAUT)

12 Feb 2008 07:00

Global Energy Development PLC12 February 2008 For Immediate Release 12 February 2008 GLOBAL ENERGY DEVELOPMENT PLC SENIOR MANAGEMENT APPOINTMENT - MANAGING DIRECTOR Global Energy Development PLC (the 'Company'), the Latin America focusedpetroleum exploration and production company (LSE-AIM: 'GED'), is pleased toannounce the appointment of Mr. Stephen Newton to the Company's seniormanagement as Managing Director with immediate effect. Mr. Newton, aged 55, has over 33 years of international petroleum experience,including over 12 years of operational experience in Colombia, the Company'smain country of operation, and six years in Peru. He is an Australian nationaland currently resides in Bogota, Colombia. Mr. Newton was an employee of Occidental Petroleum Corporation for 24 years,during which time he held a number of positions including President and GeneralManager Occidental Colombia and, subsequently, Vice President Occidental asworldwide head of engineering and technical services. From 1999 to 2001, he ranAlberta Energy Company's, now EnCana Corporation, operations in Ecuador andColombia. From 2003 to early 2007, Mr. Newton was President and Chief Executive Officer ofSolana Resources Limited (LSE-AIM: 'SORL'), an international resource company heco-founded in Colombia. During 2007, he was President of TransmeridianExploration Inc. (AMEX:TMY) and, most recently, has acted as an independentenergy consultant to companies looking to focus in Latin America, particularlyColombia. Mr. Newton holds a Mining / Petroleum Engineering degree from the University ofQueensland, Brisbane, a Master of Science Petroleum Engineering degree fromImperial College London and an Executive MBA from UCLA. He is a member of TheSociety of Petroleum Engineers ('SPE'). Mr. Newton will be based in the Company's Bogota office and be responsible forall operations, engineering and geological studies, finance and planning andemployees of the Company. Stephen Voss, the Company's previous Managing Director will assume the role ofVice Chairman with immediate effect and will remain a member of the Board ofDirectors. Enquiries: Global Energy Development PLCCatherine Miles, Company Secretary +44 (0) 20 7763 7177www.globalenergyplc.com +44 (0) 7909918034 Landsbanki Securities (UK) Limited +44 (0) 20 7426 9000Jeff Keating / Fred Walsh This information is provided by RNS The company news service from the London Stock Exchange