NAUT.L Regulatory News (NAUT)

7 Mar 2008 07:00

Global Energy Development PLC07 March 2008 For Immediate Release 7 March 2008 GLOBAL ENERGY DEVELOPMENT PLC BOARD APPOINTMENT - EXECUTIVE 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 Thomas Newton, who currently holds theSenior Management position of Managing Director, to the Company's Board asExecutive 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 ExecutiveOfficer of Solana Resources Limited (LSE-AIM: 'SORL'), an international resourcecompany he co-founded in Colombia. During 2007, he was President ofTransmeridian Exploration Inc. (AMEX: 'TMY') and, most recently, has acted as anindependent energy consultant to companies looking to focus in Latin America,particularly Colombia. He is currently Non-executive Chairman of Infinity OilLimited, a private petroleum company active in Colombia, a Director of AvalonOil and Gas, Inc. (OTCBB: 'AOGN'), a petroleum company active in the USA andColombia, and a Partner and Director of PWS Colombia, a subsidiary of thereinsurance broker PWS International. 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'). No further information is required to be disclosed in respect of Mr. Newtonunder Schedule 2, paragraph (g) of the AIM Rules. Enquiries: Global Energy Development PLC Catherine 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