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Global Energy Dev. (NAUT)

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Monday 19 May, 2014

Global Energy Dev.

Bolivar Rig Mobilisation

RNS Number : 4092H
Global Energy Development PLC
19 May 2014

Immediate Release                                                                                                               19 May 2014



(the "Company" or "Global")




Global Energy Development PLC, the Latin America focused petroleum exploration, development and production company (AIM: GED) with operations in Colombia, announces that the rig mobilisation has commenced to the Catalina #1 well in the Company's Bolivar Association Contract ("Bolivar Contract") located in the northern section of the Magdalena Valley in Colombia, South America.


The workover rig is being transferred from the central Magdalena Valley area and the rigging up of all existing equipment is expected to be completed over a seven day period, with key new equipment expected to be ready for shipment from Houston, USA. to Colombia shortly. The transferal process involves the removal of existing production equipment from the wellbore and the installation of surface pressure control equipment and production tubing suitable for use in high pressure operating conditions, after which the workover rig will then be demobilised and removed from the location. After all surface equipment is installed and pressure tested, stimulation of the Simiti will then proceed with initial testing results expected in July.


Stephen C. Voss, Managing Director of Global commented, "Following an extensive period of planning and equipment preparation, the Company is about to undertake its first stimulation test of one of the five Bolivar block productive horizons that form the basis of our year-end 2013 reserve report.  The Simiti test is focused on conventional sandstone sections that are known to be productive producers to the south of our Bolivar Block acreage.  The Company is hopeful that with modern stimulation techniques, the flow rates achieved nearby in the same formation can be enhanced in our Catalina 1 well-Simiti Test."



For further information please contact

Global Energy Development PLC

Anna Williams, Finance Director

+001 817 310 0240

[email protected]


Northland Capital Partners Limited

  Louis Castro

   +44 (0)20 7382 1100

  Lauren Kettle

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

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