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Global Energy Development reports second successful flow test at Tilodiran 3

Friday, August 08, 2008

Global Energy Development has reported another successful test for the Tilodiran 3 well within the Colombian Rio Verde contract.

The Tilodiran 3 well was drilled directionally to a total depth of 13,200 feet and a conventional drill stem test was performed in the Lower Gacheta formation. The interval was perforated from 12,806 to 12,814 feet resulting in a stabilized natural flow rate of 400 barrels of oil per day of 16.7 degrees API gravity with a water cut of 1.2% on a choke of 28/64' with a flowing wellhead pressure of 120 psi.

This test result follows the recent testing of the Ubaque formation within the well which tested at a stabilized natural flow rate of 322 bopd with a trace of water, reflecting the fact that the Ubaque formation was found structurally higher at this location.

The Company will now commence testing the Mirador formation where the presence of oil was also indicated during drilling. Like the Lower Gacheta, this formation is previously untested in the Tilodiran field.






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