US oil newcomer Global Energy Development has unveiled its final results, a month after floating on Aim following a split from parent and majority shareholder Harken Energy. The figures showed pre-tax losses of $23m (£16m), down from $146m. However, the company said negotiations over two acquisitions are at an advanced stage. The firm also flagged up a 5m-barrel proven reserve base. GED focuses on Latin America, where it has both production (in oil rich, but troubled, Colombia) and exploration (Colombia, Costa Rica, Peru and Panama) interests.