On 13 September 2007 Global Energy Development PLC announced that it had received several unsolicited expressions of interest from separate parties which may or may not lead to an offer or offers being made for the Company. The Board of Global has concluded that these approaches undervalued Global and has terminated discussions. As a consequence, the directors of the Company consider that Global is no longer in an offer period.
As stated in the corporate and operations update, issued on 11 December 2007, Global will continue its commercial discussions with potential partners for some of its projects in Colombia, Peru and Panama and is pleased to report that it has received positive feedback from a number of potential partners. The Company is currently assessing where to apportion its financial resources for 2008 and will provide an update early in 2008.