Exercise of Options

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

EXERCISE OF OPTIONS

Global Energy Development PLC, the Latin America focused petroleum exploitation, development and production company (LSE-AIM: "GED") announces that it is issuing 5,007 new ordinary shares in the capital of the Company following an exercise of options by a former employee.

Application has been made for the admission of the new ordinary shares to trading on AIM, with dealings expected to commence on 9 January 2013. Following admission of the new ordinary shares, the Company will have 36,112,187 ordinary shares in issue.

For further information:

Global Energy Development PLC

Buchanan

Lauren Kettle

Westhouse Securities Limited +44 (0)20 7601 6100

Petre Norton

Andrew Matharu