Global Energy Development PLC (the “Company”) is a petroleum exploration and production company with a long time focus in, and commitment to, Latin America.

The Group has been active in its chosen countries of Colombia, Peru and Panama for over 15 years, and has strived throughout this time to be recognised not only as a leading and growing company in the hydrocarbon industries of these countries but also one that maintains the highest standards in all areas of its operations.

The Company constantly reviews its internal policies and procedures in all areas paying special attention to Integrity and Business Conduct, Health and Safety, Environmental Issues, and Performance and Operational Excellence.

All the contracts that the Company owns are covered by strict environmental permits and the Company’s adherence to these should continue to reduce any adverse impact on the areas or communities surrounding the contracts held.

Through the Company’s long association with many of the contract areas, the Company is well established among a number of the local communities and provides medical and social investment as well as employment where possible. In addition, the Company makes donations to The Children’s Vision International, a non-profit, non-government foundation in Santafe de Bogotá helping needy and homeless children.

The Company uses innovative and fit-for-purpose technologies, where economically feasible, in order to optimise operating efficiencies while reducing operating costs and the Company is committed to continuously look at new technologies.

The Company carefully evaluates all future projects and contract areas, assessing their economic viability, future value for the Company and also the effect on the local communities and surrounding areas.

The Company is committed to Latin America and through continual review of its policies and procedures and education of employees is confident of maintaining and growing profitable and responsible operations in the region.

2008