17 Dec 2007 07:01
Global Energy Development PLC17 December 2007 For Immediate Release 17 December 2007 Global Energy Development PLC Offer talks terminated On 13 September 2007 Global Energy Development PLC ("Global" or the "Company")announced that it had received several unsolicited expressions of interest fromseparate parties which may or may not lead to an offer or offers being made forthe Company. The Board of Global has concluded that these approachesundervalued Global and has terminated discussions. As a consequence, thedirectors of the Company consider that Global is no longer in an offer period. As stated in the corporate and operations update, issued on 11 December 2007,Global will continue its commercial discussions with potential partners for someof its projects in Colombia, Peru and Panama and is pleased to report that ithas received positive feedback from a number of potential partners. The Companyis currently assessing where to apportion its financial resources for 2008 andwill provide an update early in 2008. For further information: Global Energy Development PLCCatherine Miles, Company Secretary +44 (0) 20 7763 7177www.globalenergyplc.com +44 (0) 7909 918 034 This information is provided by RNS The company news service from the London Stock Exchange