NAUT.L Regulatory News (NAUT)

24 Mar 2005 15:03

Global Energy Development PLC24 March 2005 Immediate Release 24 March 2005 GLOBAL ENERGY DEVELOPMENT PLC Global Energy Development PLC ("Global" or the "Company"), the Latin Americafocused petroleum exploration and production company (LSE-AIM: "GED"), announcesthat Harken Energy Corporation ("Harken"), a Delaware corporation and the holderof approximately 85% of the Company's issued Ordinary Shares, has filed with theSecurities and Exchange Commission of the United States, its' Annual Report onForm 10K for the year ended 31 December 2004. Harken's Form 10K, filed on aconsolidated basis, includes certain financial information, on a United StatesGAAP basis, with respect to the Company's operations. Global anticipatesreporting its results for the year ended 31 December 2004 on a U.K. GAAP basisearly April 2005. Proceeding the Form 10K, Harken filed a Form 8K relating to an amendment to thefiled Form 10K. This amendment pertains to the unrecorded accounting effect ofthe third quarter 2004 modification of the employee stock option plan of Global.Global advises that it anticipates this will have no material effect on itsfinancial results for the year ended 31 December 2004. For further information: Global Energy Development PLCCatherine Miles, director of Investor Relations +44 (0) 20 7808 5550www.globalenergyplc.com +44 (0) 7909918034 Notes to Editors: Global holds exclusive contracts and rights to explore for and / or produce oiland gas from a geographically diversified portfolio of prospective acreage inColombia, Peru and Panama. This information is provided by RNS The company news service from the London Stock Exchange