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Global Energy Development (GED.L)

  • 08-12-2014 8:15am
    #1
    HobbyMan
    Banned (with Prison Access) Posts: 212 ✭✭


    Here is one that I really like.

    Bear in mind though that small exploration companies are of secondary grade so don't put the farm in it if you do.

    GED is an exploration company in Columbia which recently sold off 3 of their 5 assets for $50m.

    The sale was confirmed last Friday which saw the shares rise by 20% before falling back down again.

    The $50m will be used to pay off debt which will leave GED with a cash balance of between 70-80p.

    Therefore at the current share price of less than 50p the remaining two assets are carried for free!

    Importantly the remaining two assets will be explored with GED's partner funding the first few wells in each asset. GED's short-medium term cash outflow should therefore be minimal.

    As the situation currently stands GED is waiting for an emulsion blockage, in a recent drill, to dissipate so that extraction can commence.

    That's GED in a nutshell. Of course be sure to research the company further yourself to see the whole story.


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