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HEC Buying here - for tomorrow gap ups
Where's the bottom here guys?
$.27 Ouch!!
Buying here - for tomorrow gap ups
crude will be up big time in general!
COHQ ut underway to .021 !
COHQ ut underway to .021 !!!
.82 Shake before the Bake and Cake rise!!!!
COHQ ut underway to .019
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
HEC news. POSITIVE TEST RESULTS
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
1,100 boepd and Harken still gets 34%of total revenues of global to add to harkens bottom line nice !!!!
POSITIVE TEST RESULTS
HEC related news today.
.
RNS Number:4081C
Global Energy Development PLC
04 May 2006
Immediate Release 4 May 2006
GLOBAL ENERGY DEVELOPMENT PLC
POSITIVE TEST RESULTS AND PLACING ON PRODUCTION OF TILODIRAN 2 WELL
Global Energy Development PLC ("Global" or the "Company"), the Latin America
focused petroleum exploration and production company (LSE-AIM: "GED"), is
pleased to announce positive test results from its Tilodiran 2 exploratory well
on the Rio Verde Exploration and Production Concession contract area in the
central Llanos region of Colombia.
The Company perforated two intervals between 13,020 feet and 13,230 feet and
tested the Upper Massive Ubaque and Upper Gacheta formations of the Tilodiran 2
well. These formations are two of an overall six potentially oil productive
zones that were identified by the management team with the four other zones not
tested at this stage.
The Tilodiran 2 well, using mid-range pump speeds, produced at a maximum
short-term rate of 2,746 bopd of 16 degree API gravity oil and 761 mcfd of
methane for a total maximum short-term rate of 2,873 boepd. Two productive
formations, the Upper Massive Ubaque and the Upper Gacheta, were tested on a
combined, commingled basis to achieve these maximum rates. The Upper Gacheta
produced 19 degree API gravity crude at a very low solution gas-oil ratio and
essentially zero BS&W. The Upper Massive Ubaque, which is 200 feet below the
Upper Gacheta, produced 15 degree API gravity crude at a solution gas-oil ratio
of 275 cubic feet of methane per barrel of oil and a variable BS&W rate of 35%
to 65%. Based on the Company's experience, the gas-oil ratio for the Upper
Massive Ubaque is exceptionally favourable and should enhance the long term
deliverability of oil from this formation.
Given these gas-oil ratio and water cut characteristics the Company currently
estimates a stabilized oil rate at the minimum possible pump speed to be
approximately 1,100 boepd. After arranging for additional surface handling
equipment as well as the necessary trucking capacity for short-term oil
transportation, Global will look to place the Tilodiran 2 well on continuous
production within four weeks. The Company's recent gross production, prior to
the placing on continuous production of the Tilodiran 2 well, is 1,050 bopd.
Future production rates from the Tilodiran 2 well may increase assuming the
successful addition of other potentially oil productive formations. Conversely,
the Company may decide to restrict production rates according to what Global
determines to be the maximum efficient sustainable rate of production according
to prudent reservoir management techniques.
The Company intends drilling another well in the Tilodiran field later in 2006.
The Company will look to test the Mirador formation in this well in addition to
others if present and bearing moveable hydrocarbons. The Mirador formation was
untested in the Tilodiran 2 well but is considered by the management team to
potentially be the most significant due to the Mirador's enhanced permeability
and oil gravity characteristics found in similar fields in the Llanos region.
Global's net interest in the Tilodiran 2 well is 89.5%. A total 10.5% royalty is
payable to others which includes 8% to the National Hydrocarbons Agency of the
Republic of Colombia, with the size of the royalty to be determined by future
production levels.
Of particular interest to the Company is that the Rio Verde contract is
contiguous with the southern boundary of Global's newly signed Los Sauces
Exploration and Production Concession contract. Based upon data currently
available the management team believe the Tilodiran field is part of a larger
trend to the north into the Los Sauces contract area as well as further to the
east in the Rio Verde contract area. Further action to define the scope of these
opportunities is planned prior to the end of 2006 and continuing into 2007.
Commenting on the successful Tilodiran 2 well, Stephen Voss, Global's Managing
Director, said:
"We are extremely pleased with the results of the Tilodiran 2 well production
test. The well shows preliminary evidence of very significant oil deliverability
that will have a considerable impact on the Company's production volumes and
revenues.
Our immediate work plans are to install additional production facilities and
begin planning for a pipeline extension to a junction 10 kilometres northwest of
Tilodiran so that further field drilling can be undertaken later this year.
Although we were unable to test all productive zones in the Tilodiran 2 well at
this stage, our future development plans will include specific efforts to
identify the productive potential of other formations, including the regionally
prolific Mirador. The Company is also very excited about the potential to extend
this success to other adjacent geologic features that appear similar to our
Tilodiran field."
For further information:
Global Energy Development PLC
Catherine Miles, director of Investor Relations +44 (0) 20 7763 7177
www.globalenergyplc.com +44 (0) 7909918034
-------------------------------------------------
Notes to Editors:
Global has been listed on the AIM Market of the London Stock Exchange since
March 2002 (LSE-AIM: "GED"). The Company currently holds in excess of 5.2
million acres through nine contracts in Colombia and Peru, an exclusive
Technical Evaluation Agreement ("TEA") in Colombia and a concluded exclusive TEA
in Panama. Global's portfolio comprises production, developmental drilling and
workover opportunities and several high-potential exploration projects.
Glossary:
boepd - barrels of oil equivalent per day
bopd - barrels of oil per day
BS&W - basic sediment and water
mcfd - thousand cubic feet of gas per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLUUUMPAUPQGRW
Keeping my resolve!!!
shake to .83 and now to .85. I think this was manufactured.
Keeping my resolve!!!
we need to close above the 50DMA .02 today. If the stock can do this and close green Friday we have a confirmed uptrend. Funny this is the 200DMA is .022 not far off as well. All we need now is volume and we quickly go to .04, then .06, then .09, then .15 then a little profit taking takes us back to .08 then back to .15
Thanks AO!!!
Not sure. Didn't know about this until now.
What I have learned is that is
1.) TYCHE is in Canada and
2.) currently not publicly traded
3.) BIGN may own 50% of TYCHE
4.) TYCHE is an exploration company
Not sure of any of this.
BIGN Divy detail: 1 Tyche Ergy rest shr for every 30 BIGN shares held.
BIGN Divy detail: 1 Tyche Ergy rest shr for every 30 BIGN shares held.
1 Tyche Ergy rest shr for every 30 BIGN shares held.
BIGN news.new record date for the Special Dividend will be on May 19, 2006 with a payment date of June 2, 2006.
TORONTO, Jan. 20, 2006 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) announced today it plans for their shareholders to be paid 1 (one) Tyche Energy Inc. restricted share for every 30 (thirty) Biogenerics Ltd. shares held.
BIGN news.new record date for the Special Dividend will be on May 19, 2006 with a payment date of June 2, 2006.
TORONTO, Jan. 20, 2006 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) announced today it plans for their shareholders to be paid 1 (one) Tyche Energy Inc. restricted share for every 30 (thirty) Biogenerics Ltd. shares held.
Low Vol Shake to .22
TGB News yesterday!!
May 2, 2006 - 8:00 AM EDT
Taseko Update Progress of Feasibility Study Work on Prosperity Copper-Gold Project
Taseko Mines Limited (TSX:TKO)(AMEX: TGB) announces that it has retained engineering firm SNC Lavalin to update the feasibility study on its Prosperity copper-gold project, located 125 kilometres southwest of the city of Williams Lake in south-central British Columbia. Taseko's 100% owned Prosperity property hosts one of the largest undeveloped open pittable copper-gold deposits in North America.
Completion of a preliminary overview study of the project is expected by the middle of May. This overview study will guide detailed engineering work for updating the feasibility study.
The initial focus of the overview study will be redesign of the concentrator, in particular, utilizing a large diameter single SAG mill (Semi-Autogenous Grinding mill) as opposed to multiple smaller SAG mills. A single SAG mill design will significantly reduce the capital and operating costs relative to previous studies undertaken on the Prosperity project, as grinding circuits account for 40% of the cost of concentrator facilities.
Previously reported measured and indicated resources for Prosperity copper-gold deposit at 0.20% copper cut-off are as follows:
Notice most metals correcting today...Not TGB!!!
Ya...Ya...Ya...
4/5 "COHQ Chart.
Watch .027 break...news soon I'm hearing"
Are you hearing any news soon now?
Low Vol shake to $.86.
Don't give in to your fears.
BUY !!!!
Poised now for its run to $10.
This stock will make up for all my past mistakes.
yeah - what is up with that Vol peaked at 2.1 and it is decreasing...now 2,066,000,000
Taking a closer look at this one.
ARSC, HEC, BKMP, TGB!!!!
I don't understand this. "due to the fact that this well remains a tight hole, specific details and drilling results might not be released for up to two years. The Paktoa C-60 was the first "wildcat" in the Beaufort Sea in Canada, since 17 years ago."
Welcome to the board tr8dervic!!!
Thanks TR. That explains why the price is below $1 for now.
I agree this stock is setup for solid growth and this quarter will prob not meet last qtrs rev. Nevertheless I believe it will be volatle short term mostly up.
Once we break $1.00 HEC will take off like a rocket!