Could you post the font image and definition?
Try using Hiero or (better yet) TWL's font tool
- check "Save Full Image" and select "Text" instead of XML. Your code should work fine, although I've suggest enabling blending in GL setup if you want your text to appear smooth:
Also I'd suggest the following for your game loop:
//no need for depth buffer
//matrix mode is already set, no need for this:
//place after update