BOLIVAR PROJ-CATALINA #1 SIMITI FORMATION UPDATE

Immediate Release 3 February 2012

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

BOLIVAR PROJECT - CATALINA #1 SIMITI FORMATION UPDATE

Global Energy Development PLC, the Latin America focused petroleum exploitation, development and production company (AIM: GED) with operations in Colombia and Peru, is pleased to announce it has retained a third-party firm to review the Catalina #1 well log, core data, mud-log information and other geochemical data and to recommend specific fracturing intervals with particular fluids and fracturing design for the re-entering of the Catalina #1 well within the Simiti formation. The third-party firm, Discovery GeoServices Corporation headed by Mike Lewis, will also estimate the expected initial rates of oil, natural gas and natural gas liquids. The evaluation project, as described above, has commenced and is expected to be completed by the end of March 2012.

Following completion of this evaluation, the Company will evaluate technical proposals from BakerHughes Pressure Pumping Division (Colombia), Weatherford Colombia and one other service provider for the design and planning of the Simiti frac stimulation project.

For further information please contact

Global Energy Development PLC

Buchanan (Financial PR)

Lauren Kettle