NAUT.L Regulatory News (NAUT)

Immediate Release 19 September 2012

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

UPDATE ON DEVELOPMENT AND OPERATIONAL PROJECTS

Global Energy Development PLC, the South America focused petroleum production and development company (AIM: GED), with operations in Colombia, South America, announces the following update regarding its ongoing development and operational projects in the Middle Magdalena Valley and the Llanos Basin.

BOLIVAR Contract Area - Oil Shale - Middle Magdalena Valley

The Company is continuing with its plans to hydraulically fracture the La Luna formation in the existing Olivo #2 well, which is expected to take place during late 2012 or early 2013, depending on the availability of equipment within the country from third-party service and equipment providers. The La Luna formation shares similar geological characteristics to the Eagle Ford shale, and historical drilling in our Contract area has produced a significant amount of oil and gas.

Several major international companies have recently shown significant interest in the Bolivar Contract area, with Shell E&P - Colombia and ExxonMobil Exploration Colombia Limited both announcing partnerships in block areas adjacent to the Company's Contract area. The Company may also consider partnering with highly-experienced operators in order to accelerate the development of our reserve base and increase shareholder value.

TORCAZ: CHOPS - Torcaz Field, Middle Magdalena Valley

CHOPS (Cold Heavy Oil Production with Sand) Project

As part of our strategy to increase production from the large reserve base in our Middle Magdalena properties, work began on the Torcaz 5 well within our Bocachico Contract area in mid-July. A progressive cavity pump was installed at a depth of approximately 7,900 feet below the perforations in the formation to re-establish oil (and sand) production and lift from the wellbore. During the testing phase of this pump, successful sanding and oil shows were initiated. However, oil shows were interrupted due to periodic significant sand movement into the wellbore, which eventually overwhelmed the capacity of the pump. As a result it became evident that a modified approach, combining the CHOPS process and the partial application of conventional sanding restraints, should be utilised to moderate sand production and enhance oil production. The Company hopes to commence this process in October and planning efforts are currently underway.

Although considered a setback, this was the first attempt at implementing such technology at the Torcaz field and it is not surprising to see some short-term calibration and engineering issues at this early stage. The initial results are nevertheless encouraging and the Board believes that this process, in a modified form, can help to substantially accelerate production of the Company's reserves in the Torcaz field.

RIO VERDE PRODUCTION - Tilodiran Wells, Llanos Basin

The Company's focus for the Llanos Basin is to maximise production volumes, decrease operating costs and utilise cash flow from operations to further develop projects within our Middle Magdalena Valley contract areas (Bocachico and Bolivar Association Contracts). Our original targets for the six months ended 30 June 2012 (the "Period") for the Llanos Basin properties were the recompletion of the Tilodiran #1 well to re-establish oil production and the conversion of the Rio Verde #2 well to water injection well in order to significantly reduce water transportation and disposal costs within the Rio Verde Concession Contract area.

As previously announced, the original timing of these projects was delayed because, during early 2012, the Company was forced to perform workover operations to replace a failed pump within the wellbore on its Tilodiran #2 well, located within the Rio Verde Concession Contract area. Shortly after this work was completed, in May 2012, the electric submersible pump ("ESP") failed again. Upon recovery of the failed pump, the well was stimulated and an ESP from a different vendor was installed at a shallower depth of 8,000 feet. This subsequent workover operation was completed in mid-June. The Tilodiran #2 well is now online and producing at stable rates of approximately 350 gross barrels of oil per day ("bopd"). Although gross production decreased by 17% from 244,040 bbls in the period compared to 202,247 bbls for the first half of 2011 due to the more than 120 days of downtime of the Tilodiran #2 well, underlying oil rates have remained fairly consistent. Following completion of the workover, the Company's average gross daily production has been steadily averaging between 1,700 bopd and 1,800 bopd.

In July, following the completion of the workover of the Tilodiran #2 well, the Company completed the conversion of the inactive Rio Verde 2 to a water disposal well. The Company successfully concluded short-term water injection tests at Rio Verde #2 and has submitted the test results to the Colombian Ministry of Mines and Energy. Final approval from the Colombian authorities to re-commence water injection at Rio Verde #2 is expected in September 2012. As the Company transports and disposes of more than 120,000 barrels of water each month from its Tilodiran field, we anticipate that this disposal well will save an average of $4.00 per barrel of water transportation costs per month, translating into significant cost savings for the Company.

For further information please contact

Global Energy Development PLC

Buchanan (Financial PR)

Lauren Kettle

Westhouse Securities +44 (0) 20 7601 6100 Petre Norton

Andrew Matharu

Notes to Editors:

About CHOPS (Cold Heavy Oil Production with Sand)

CHOPS is a proven technique used by the Canadian oil industry of extracting heavy crude oil where sand production is encouraged as a means of enhancing well productivity using abrasives tolerant pumps. Using abrasives tolerant pumps, substantial production rate improvements over non-CHOPS techniques have been reported. The Company has 2P oil reserves of 67 million BOE (57% of Global's 2P reserve base) within the Bocachico Contract area as at 31 December 2011.

About Global Energy Development

The Company's shares have been traded on AIM, a market operated by the London Stock Exchange, since March 2002 (AIM: GED). The Company's balanced portfolio comprises a base of production, developmental drilling and workover opportunities and several exploration projects in Colombia, South America.

The information contained within this announcement has been reviewed by Mr. Stephen Voss, a Director of the Company, for the purpose of the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies which outlines standards of disclosure for natural resource projects. Mr. Voss is a Registered Professional Engineer in Texas and has been a Member of the Society of Petroleum Engineers for 28 years.