NAUT.L Regulatory News (NAUT)

5 Mar 2007 07:01

Global Energy Development PLC05 March 2007 Immediate Release 5 March 2007 GLOBAL ENERGY DEVELOPMENT PLC DRILLING UPDATE Global Energy Development PLC ("Global" or the "Company"), the Latin Americafocused petroleum exploration and production company (LSE-AIM: "GED"), ispleased to provide an update on its drilling operations within its ColombianLuna Llena Exploration and Production Concession contract. The Luna Llena 1 well has been successfully drilled to 3,229 feet, deeper thanthe originally planned 2,550 feet, to penetrate basement rock below theCarbonera formation series. The Company is now proceeding with completionoperations and will production test more than one potentially producing zoneswithin the formation. The drilling rig will remain at the well until productiontesting commences in approximately 10 days time. Production testing is thenexpected to require a full 15 days due to additional testing over an extendedinterval. For further information: Global Energy Development PLCCatherine Miles, Company Secretary +44 (0) 20 7763 7177www.globalenergyplc.com +44 (0) 7909918034 The information contained within this announcement has been reviewed by Mr Stephen Voss, the Company's Managing Director. Mr Voss has been a Member of SPE-AIME (Society of Petroleum Engineers-American Institute of Mine Engineers) for 36 years and is a Registered Petroleum Engineer in Texas. This information is provided by RNS The company news service from the London Stock Exchange