RNS Number:1238J
Global Energy Development PLC
24 March 2003





IMMEDIATE RELEASE           24  March 2003









                Global Energy Development PLC Initiates Plans to

                       Test the Cajaro 1 Well in Colombia



Houston, Texas (March 24, 2003) - Global Energy Development PLC ("Global" or the
"Group") the petroleum exploration and production company (LSE-AIM:  "GED")
announced today that it has initiated plans to complete and test the Cajaro #1
well located in the company's 82,752 acre El Cajaro Association Contract block
in the Llanos Basin of Eastern Colombia.  The well was drilled to 9300 feet in
22 days and recorded oil shows in the Mirador and Ubaque formations.



Global has disassembled the equipment contracted for the drilling operation and
expects a completion rig to arrive in the next seven days.  The completion rig
will be utilized to carry out approximately 15 days of production tests on both
formations.







For further information:



Global Energy Development PLC (www.globalenergyplc.com)

Mikel D. Faulkner, Chairman                              (001-817) 424-2424



Buchanan Communications                                  (0044-207) 466-5000

Tim Thompson / Catherine Miles







Notes to Editors:



Listed on the Alternative Investment Market (AIM) of the London Stock Exchange,
Global Energy Development PLC is a petroleum exploration and production company
consisting of a Management Team with diversified experience in the international
oil industry.  Global has producing, development and exploration properties in
Latin America.








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            The company news service from the London Stock Exchange
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