Assuming you have obtained the source from the gdivelog SourceForge project page all you will need to do is the following, replacing [version] with the version of gdivelog you have downloaded:

  tar jxf gdivelog-[version].tar.bz2
  cd gdivelog-[version]
  ./configure
  make
  make install

As of version 0.4 there are no non-default configure options. Use ./configure --help for more information.

You will probably need to be root for the make install step.