NAUT.L Regulatory News (NAUT)

12 Mar 2008 07:01

Global Energy Development PLC12 March 2008 For Immediate Release 12 March 2008 GLOBAL ENERGY DEVELOPMENT PLC RIG MOBILISATION Global Energy Development PLC (the "Company"), the Latin America focusedpetroleum exploration and production company (LSE-AIM: "GED"), is pleased toannounce that rig mobilisation has commenced to the Company's Boral 1exploratory well within the Colombian Rio Verde contract, with mobilisationexpected to take approximately four weeks. The Boral 1 well is expected to be drilled vertically to a total depth ofapproximately 12,200 feet to test the Gacheta and Ubaque formations, with boththese formations present in the nearby Tilodiran field. The Company retains a100% working interest in the Boral 1 well and is the operator. For further information: Global Energy Development PLC +44 (0) 20 7763 7177Catherine Miles, Company Secretary +44 (0) 7909918034www.globalenergyplc.com Landsbanki Securities (UK) Limited +44 (0) 20 7426 9000Jeff Keating / Fred Walsh The information contained within this announcement has been reviewed by Mr.Stephen Newton, Managing Director of the Company. Mr. Newton holds a Mining /Petroleum Engineering degree from the University of Queensland, Brisbane and aMaster of Science Petroleum Engineering degree from Imperial College London. Heis a member of The Society of Petroleum Engineers ('SPE'). This information is provided by RNS The company news service from the London Stock Exchange