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Well Spudded

29 Mar 2010 07:00

RNS Number : 2876J
Global Energy Development PLC
29 March 2010
 



Immediate Release

29 March 2010

 

 

GLOBAL ENERGY DEVELOPMENT PLC

("Global" or the "Company")

 

WELL SPUDDED

 

Global Energy Development PLC, the Latin America focused petroleum exploration and production company (LSE-AIM: "GED"), is pleased to announce that the Rio Verde 2 exploratory well within the Colombian Rio Verde contract was spudded on 26 March 2010.

 

The well has a proposed total depth of approximately 12,500 feet and will target three different formations - Mirador, Gatcheta and Ubaque - all being proved formations with other wells inside the contract area. The well is expected to be drilled, completed and tested by end of April or beginning of May 2010.

 

For further information:

 

Global Energy Development PLC

 

Catherine Miles, Company Secretary

 +44 (0)20 7228 4266

www.globalenergyplc.com

+44 (0)7909918034

 

Matrix Corporate Capital LLP

Alastair Stratton

+44 (0)20 3206 7204

Tim Graham

+44 (0)20 3206 7206

 

Notes to Editors:

 

The Company's shares have been traded on AIM, a market operated by the London Stock Exchange, since March 2002 (LSE-AIM: "GED"). The Company's balanced portfolio covers the countries of Colombia, Peru and Panama and comprises a base of production, developmental drilling and workover opportunities and several high-potential exploration projects. The Company currently holds seven contracts: five in Colombia; one in Peru; and one in Panama.

 

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 SPE for 26 years. 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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