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Global Energy Development PLC (“Global”) has
been listed on the AIM of the London Stock Exchange since March 2002 (LSE-AIM:GED)
with its operations focused on Latin America, currently Colombia, Peru and
Panama.
At December 31, 2007 and 2006, we owned approximately 34%
of Global’s ordinary
shares. At December 31, 2007, our investment in Global of $19.8 million was equal
to the market value of our 11.9 million shares of Global’s common stock
based on Global’s closing share price of £0.84 on that date.
For more detailed information on Global and its operations, please go to www.globalenergyplc.com.
| Please note that any opinion,
estimates or forecasts made by Global Energy Development
PLC or analysts are theirs alone and do not represent
opinions, forecasts or productions of HKN or its management.
HKN does not by its reference to such reports imply
its endorsement of or concurrence with such information,
conclusions or recommendations. |
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