INVESTOR PRESENTATION

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006

SEPTEMBER 2006

COMPANY OVERVIEW

Petroleum Exploration and Production company focused on Latin America

¹ All contracts and Technical Evaluation Agreements (TEAs) 100% owned by Global

² Proved plus Probable (plus Possible) Reserves net to Global independently reported by Ryder Scott Company, LP as at 31 December 2005 – Competent Persons Report

³ Based upon an approximate Brent Price of $58 per barrel – closing price as at 31 December 2005

BOE – barrels of oil equivalent

• Established management team with long-term focus on Latin America – c 15 years

• Listed on AIM March 2002 – year-on-year financial and operational growth

• Profitable with cash flow from production and cash available funding capital expenditure and growth

• Over 5.2 million acres held in Colombia, Peru and Panama

• Emphasis now on newer high-potential exploration projects and development of existing exploitation projects

No. of contracts & TEAs ¹

Acreage P1 + P2(as at Dec 05) ²

P1 + P2 + P3(as at Dec 05) ²

Future Net Revenues for

P1 + P2 ³

Future Net Revenues for P1 + P2 + P3 ³

Royalties payable

11 + 5.2 million 17.5 million BOE 67.5 million BOE $621 million $2.8 billion 5% - 20%

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FINANCIAL RESULTS & HISTORY

Year 2005 H1 2006

Average WTI $56 per barrel $64 per barrel

Global’s average cash netback per barrel $29.15 $37.41

Year 2002

Year 2003

Year2004

Year2005

Turnover $7,619,000 $8,556,000 $10,974,000 $19,045,000

Gross Profit

$1,890,000 $3,239,000

$5,349,000 $9,290,000

G & A

$4,178,000 $2,499,000

$2,241,000 $4,364,000

PBT ($1,901,000)

$797,000

$3,127,000 $5,094,000

Net Income ($2,502,000) $1,034,000

$2,566,000 $4,379,000

Capex

$2,825,000 $4,421,000

$8,700,000 $18,603,000

Total Assets $56,090,000 $56,822,000 $63,727,000 $86,282,000

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H12006

$9,006,000

$4,667,000

$2,658,000

$2,148,000

$1,665,000

$10,261,000

$87,568,000

COLOMBIA & PERU

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Contract Terms in Colombia and Peru:

• Low production-based royalties

• Private treaty negotiations

• No bid process

• No signature bonus

• Contract sanctity

Wood Mackenzie: Latin America Upstream Insights, July 2004: “Peru and Colombia two best contract terms in Latin America”

Harrison Lovegrove, February 2006: “Colombia, the new hot-spot…..2nd best contractual and fiscal framework in Latin America (after Peru)……

but best combination of prospectivity and the fore-mentioned”

Outcome of Elections in 2006:

• Colombia (May 2006)

“There is hardly any political risk in Colombia……the landside re-election of Uribe in May 2006 sets the stage for continued stability………….Colombia may well be the most attractive country in Latin America for E&P Investment.” (Source: Carlos Garibaldi of Harrison Lovegrove, LP June 2006)

• Peru (June 2006)

“The Peruvian Presidential elections have resulted in a significant victory for Garcia……this is certainly the result that the business community had been hoping for and should abate any fears about mass nationalisation of the country's natural resources.” (Source: Ambrian June 2006)

BOLIVAR – BUTURAMA

ALCARAVAN –PALO BLANCO / ANTEOJOS

BOCACHICO – TORCAZ

PERU - BRETAÑA FIELDAND BLOCK 95

GLOBALBogotá - Field

OfficeLOS HATOS

PANAMA – GARACHINE (TEA)

LATIN AMERICA PORTFOLIO

VALLE LUNAR (TEA)

LUNA LLENA –PRIMAVERA (EL MIEDO)

CARACOLI

GLOBALLima - Field

Office

RIO VERDE

11 contracts & TEAs = + 5.2 million acres

Global secures high-potential exploration projects through extensive knowledge of both the region and activity by the ‘majors’ over last few decades

Global then conducts extensive geologic analysis prior to contracting

LOS SAUCES

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SUMMARY TABLE OF ASSETS

Contract / TEA Name ¹ Status P1 + P2 + P3 (as at Dec 05) ²

Exploration Potential Resources (P4)Risked, Most Likely Case Recoverable

Barrels of Gross Resources(as at 1 July 06) ³

Acreage

Alcaravan & Los Hatos (Colombia)

Production & Development

4.7 million BOE - 109,000

Block 95 (Peru) Exploration 21.5 million BOE 162.97 million BOE 1,275,000

Bocachico (Colombia) Production & Development

5.4 million BOE - 54,700

Bolivar (Colombia) Production, Development & Exploration

33.5 million BOE 25.03 million BOE 55,000

Caracoli (Colombia) Exploration - signed Dec 05 7.42 million BOE 90,000

Garachine (Panama) Exploration - not signed 18.67 million BOE 1,400,000

Los Sauces (Colombia) Exploration - signed March 06 1.49 million BOE 61,600

Luna Llena (Colombia) Exploration 0.3 million BOE 3.05 million BOE 369,000

Rio Verde (Colombia) Production, Development & Exploration

2.1 million BOE - 75,000

Valle Lunar (Colombia) Exploration - TEA - 1,731,000

Total 67.5 million BOE 218.63 million BOE + 5.2 million

¹ All contracts and TEAs 100% owned by Global

² Proved plus Probable plus Possible Reserves independently reported by Ryder Scott Company, LP as at 31 Dec 2005 - Competent Persons Report

³ Risked, Most Likely case recoverable barrels of gross resources independently reported by Ryder Scott Company, LP as at 1 July 2006

BOE – barrels of oil equivalent 6

OUTLINE ACTIVITY PROGRAMME

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* Subject to weather conditions and other operators using rigs prior

TASK NAME H2 2006 H1 2007

Drilling / Spudding – 7 new wells *

Luna Llena contract - Primavera 1, 2, 3, 4 & 5 ● ●

Los Sauces contract - Los Sauces 1 ●

Rio Verde contract - Tilodiran 3 ●

Seismic / Geochemical Programmes

Los Sauces contract – 50 kms of 2D seismic ●

Luna Llena contract – 90 kms of 2D seismic ●

Block 95 contract – 2D seismic ●

Workover & Field Facility Programmes ● ●

OUTLINE NEAR-TERM PRODUCTION PROFILE

Notes:

All production rates are internally estimated initial production volumes: legacy production is subject to an annual decline of c 10%, new wells are assumed to be subject to annual declines of 35% in year one, 20% in year two, 15% in year three and 10% thereafter.

* Net barrels of oil per day to GED = c 87.5% of gross 8

Gross barrels of

oil per day *

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Average 6months ended

30 June 06

Current (Sept06) + w/o's

+ Primaverawells

+ Los Sauces1

+ Tilodiran 3

CORPORATE DATAShares in issue (as at 11 September 2006) = 35,328,428

Options outstanding

2,917,636 @ 50p

30,000 @ 54.5p

675,000 @ 151.1p

270,000 @ 265.1p

= 3,892,636 options

Convertible Note

US$12.5m worth of convertible notes = £7,022,471.91 at fixed exchange rate of $1.78

£7,022,471.91 / 305.8p (conversion price)

= 2,296,426 shares

Shares in issue on fully diluted basis = 41,517,490

Advisers:

NOMAD – Bridgewell Securities

Brokers – Teather & Greenwood and Bridgewell Securities

Auditors – BDO Stoy Hayward LLP

Solicitors – Norton Rose

Research:

Teather & Greenwood, Bridgewell Securities and Ambrian Partners

Harken

Institutions

Directors

Other

Lyford

Shareholders:

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APPENDICES

BOARD OF DIRECTORS & ORGANISATION Board of Directors:

Mikel Faulkner (Executive Chairman) Chief Executive experience with Harken Energy Corporation and an earlier background of service with Arthur Andersen and the

U.S. Navy; B.S., M.B.A.

Stephen Voss (Executive Director / Managing Director) Formerly President of Harken International, Ltd. and prior experience with Chevron Oil Company; B.S., M.B.A.

Guillermo Sanchez (Executive Director / Director of International Negotiations) Formerly Sr. V.P. of Harken Energy Corporation with previous experience at Republic Bank and Texaco; B.S.

Lord Freeman (Non-executive Director) Member of House of Lords and Chairman of Thales Holdings UK plc. A consultant to PricewaterhouseCoopers (London) and chairman of their corporate finance advisory board. Formerly a partner and managing director of Lehman Brothers.

Alan Henderson (Non-executive Director) Chairman of Forum Energy Plc and a director of Aberdeen New Dan Investment Trust Plc and Aberdeen New Thai Investment Trust plc. Previously chairman of Ranger Oil UK Ltd and director of Ranger Oil Ltd.

David Quint (Non-executive Director) Chief Executive of RP&C International. Formerly an attorney with Arter & Hadden and then managing director of the London-

based international financing arm of a US oil and gas company.

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22 full-time employees now in London (UK), Texas (USA) and Bogotá (Colombia)(as at 30 June 2005: 13)

6 professional consultants in Bogotá with prior experience at Exxon, Elf Aquitaine, Chevron and Texaco

Subsidiary office opened in Lima (Peru) in January 2006

Recent Senior Management Appointment :

Francisco Suarez - Director of Exploitation 22 years of oilfield experience, predominately in Latin America, starting his career with Elf Aquitaine in Colombia as a reservoir engineer and then working for Halliburton for 19 years

RIO VERDE CONTRACT (COLOMBIA)

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PorvenirPump Station

Rio Verde Contract

Los Hatos #1

Tilodiran #2

Tilodiran #1

Macarenas #1

Macarenas #2

Canacabare

Palo Blanco

Tilodiran #3

Global Productive Field

Global Energy Oil Pipeline

Braspetro Pipeline

Braspetro and Ecopetrol Pipeline

Previously Drilled Well

Planned Wells

Tilodiran 2 well successful – currently producing at c 750 bopd * at c 90% of maximum possible pump speed

Tilodiran 3 well due to be spudded in Q1 2007

* bopd – barrels of oil per day

RIO VERDE - TILODIRAN STRUCTURE

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RIO VERDE CONTRACTDEPTH MAP GACHETA FORMATIONCURRENT PRODUCING RESERVOIR

DP: msl

TILODIRAN-2

TILODIRAN-3

Tilodirán-1Gachetá Reservoir @ 12387’ (-11745’)

DEPTH GACHETA R

ESERVOIR

-11745’

Fig. 22

Tilodirán-3 prognosisGachetá Reservoir @ 12355’ (-11713’)

ANTICIPATED FORMATION TOPS

Formaciones MD TVDLEON 7940' 7940'Carbonera C5 10425' 10425'Mirador 11500' 11500'Cuervos 11580' 11580'Barco 11620' 11620'Guadalupe 11750' 11750'Gacheta 12080' 12080'Ubaque 12525' 12525'

TILODIRAN-3 (Vertical Well)

well prognosis

Main fault cuts Base of Mirador.

Tilodiran 3:

• same seismic line of Tilodiran 1 location

• c 500m to the east

LOS SAUCES CONTRACT (COLOMBIA)

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First exploratory well - Los Sauces 1 - expected to be spudded and completed during Q1 2007

Expect similar daily production volumes to Tilodiran 2 well – c 1,000 bopd

Perenco operates the Tocaria and Morichal fields

Rio Verde

Los Sauces

La Gloria Pipeline

Los Sauces

Los Sauces previously called Yopal

LUNA LLENA CONTRACT (COLOMBIA) – PRIMAVERA FIELD

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Valle Lunar

Primavera Field(formerly El Miedo Field)

Meta River

Barge Transport

Luna Llena

Rio Verde

Los Sauces

Rig contract signed in August 2006

5 wells expected to be placed on to continuous production during H1 2007

Shallow wells - c 3,000 feet / $1.1m apiece / 15 days

Acquisition of new 2D seismic

BLOCK 95 CONTRACT (PERU) – BRETANA FIELD

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Bretana DiscoveryBretana Discovery

AA

BB

CC

EE

FF

BLOCK 95 CONTRACT (PERU) – BRETANA FIELD

4 Major Exploration Plays

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• Risked, most likely case recoverable barrels of gross reserves = c 163 million BOE*

• Significant, existing seismic profiling a number of leads and prospects

• Oil tests and / or shows in a number of wells within the contract

• Lead / prospect maximum closures of 5,000 to 24,000 acres

* Ryder Scott study dated 1 July 2006

INVESTOR PRESENTATION

SEPTEMBER 2006