Global Energy Development PLC, the Latin America focused petroleum exploration and production company says that the Boral 1 exploratory well within the Colombian Rio Verde contract was spud on 11 April 2008 and drilling has commenced.

The Boral 1 well is being drilled vertically to an anticipated total depth of approximately 12,400 feet to test the Gacheta and Ubaque formations, with both these formations present in the nearby Tilodiran field. The Company retains a 100% working interest in the Boral 1 well and is the operator.

Once drilling operations are complete at the Boral 1 well, the rig will be mobilised directly to the Tilodiran 3 development well. The Company recently reported an increase of 30% in Tilodiran field proved reserves based upon the continued favourable production performance of the Tilodiran 2 well.

Tags: Global Energy Development