Global Energy Development PLC, the Latin America focused petroleum exploitation, development and production company with operations in Colombia is providing an update on its ongoing operations in Colombia, South America.

LLANOS BASIN OIL PRODUCTION

The Company's gross oil production during the first half of 2013 has outperformed production from the prior year period. The worldwide drop in benchmark crude oil pricing during the period is expected to offset a large portion of the Company's production increase for the first half of 2013. As previously announced, the Company's operating expenses during the first half of 2013 (both on a cumulative and per unit basis) have decreased as compared to the prior year period due to lower water disposal costs and the elimination of rental generators and other rental equipment.

Tags: Global Energy Development