Global Energy Development the South & Central American oil and gas exploration and production company said it had terminated takeover talks with potential suitors.
Global Energy first confirmed preliminary discussions on the 13 September 2007, but today said it had yet to see an offer than fully valued the business.
The Company will row resume commercial discussion with possible partners for its projects in Peru, Colombia and Panama, which had been put on ice while it considered the unsolicited offers.
Shares in Global Energy fell 12.5%.