Global Energy Development has signed a contract to acquire seismic over the Colombian Rio Verde contract.
The contract with Compania Geofisica Latinoamericana S.A. ("CGL") covers the acquisition of 18 kms of 2D seismic and 109 kms of 3D seismic, with acquisition and processing expected to be complete during September 2009.
The seismic is being acquired to more fully image the Boral and Tilodiran geologic structures, structures already proven as productive through the Company's successful drilling on the contract area last year. The seismic will enable the Company to better define a development drilling programme for both of these structures with the next well anticipated to be drilled within the Boral structure in the first quarter of 2010.
The acquired seismic will also help the Company assess the other potentially prospective geologic structures located on the contract area and plan for future exploratory drilling on these areas.
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