ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Georesources, Inc. (MM)

Georesources, Inc. (MM) (GEOI)

33.20
0.00
(0.00%)
At close: December 11 4:00PM
33.20
0.00
( 0.00% )

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
33.20
Bid
0.00
Ask
0.00
Volume
-
0.00 Day's Range 0.00
0.00 52 Week Range 0.00
Previous Close
33.20
Open
-
Last Trade
Last Trade Time
-
Average Volume (3m)
-
Financial Volume
-
VWAP
-

GEOI Latest News

Halcón Resources and GeoResources Announce Results from Special Meetings of Stockholders

Halcón Resources Corporation (NYSE: HK) (“Halcón”) and GeoResources, Inc. (NASDAQ:GEOI) (“GeoResources”) today announced that each company has received the necessary approvals...

SolarWinds Inc. to Join S&P MidCap 400; HealthStream Inc. to Join the S&P SmallCap 600

SolarWinds Inc. to Join S&P MidCap 400; HealthStream Inc. to Join the S&P SmallCap 600 PR Newswire NEW YORK, July 25, 2012 NEW YORK, July 25, 2012 /PRNewswire/ -- S&P Dow Jones Indices will make...

Halcón Resources and GeoResources Announce Record Dates and Meeting Dates for Special Meetings of Stockholders

Halcón Resources Corporation (NYSE: HK) (“Halcón”) and GeoResources, Inc. (NASDAQ: GEOI) (“GeoResources”), today announced that each has set a record date and a meeting date for...

2012 Economic Outlook - Report Highlights GeoResources, Inc. and Tidewater Inc.

HONG KONG -- (Marketwire) -- 05/16/12 -- Today, www.BrightonMarkets.com announced new reports highlighting GeoResources, Inc. (NASDAQ: GEOI) and Tidewater Inc. (NYSE: TDW). Gain market insight...

GeoResources, Inc. Reports First Quarter Financial and Operational Results

GeoResources, Inc. (NASDAQ: GEOI), today announced its financial and operating results for the three month period ended March 31, 2012. Financial Highlights Generated...

GeoResources, Inc. Announces Postponement of 2012 Annual Meeting

GeoResources, Inc. (NASDAQ: GEOI), today announced that its Board of Directors determined to postpone the 2012 Annual Meeting of Shareholders because of the pendency of the...

Securities Lawyers at Goldfarb LLP Seeking More Money, Information for Stockholders of GeoResources, Inc.

Securities Lawyers at Goldfarb LLP Seeking More Money, Information for Stockholders of GeoResources, Inc. PR Newswire DALLAS, May 1, 2012 DALLAS, May 1, 2012 /PRNewswire/ -- Securities lawyers at...

Law Office of Brodsky & Smith, LLC Announces Investigation of GeoResources, Inc.

Law Office of Brodsky & Smith, LLC Announces Investigation of GeoResources, Inc. PR Newswire BALA CYNWYD, Pa., April 28, 2012 BALA CYNWYD, Pa., April 28, 2012 /PRNewswire/ -- Law office of...

GeoResources Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg...

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of GeoResources Inc. (“GeoResources” or the “Company”) (NASDAQ:...

Robbins Umeda LLP Announces an Investigation of GeoResources, Inc.

Shareholder rights firm Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40000000CS
120000000CS
260000000CS
520000000CS
1560000000CS
2600000000CS

Movers

View all
  • Most Active
  • % Gainers
  • % Losers
SymbolPriceVol.
AALAmerican Airlines Group Inc
$ 0.00
(0.00%)
0
AAGRAfrican Agriculture Holdings Inc
$ 0.00
(0.00%)
0
AADRAdvisorShares Dorsey Wright ADR ETF
$ 0.00
(0.00%)
0
AADIAadi Bioscience Inc
$ 0.00
(0.00%)
0
AACGATA Creativity Global
$ 0.00
(0.00%)
0
AALAmerican Airlines Group Inc
$ 0.00
(0.00%)
0
AAGRAfrican Agriculture Holdings Inc
$ 0.00
(0.00%)
0
AADRAdvisorShares Dorsey Wright ADR ETF
$ 0.00
(0.00%)
0
AADIAadi Bioscience Inc
$ 0.00
(0.00%)
0
AACGATA Creativity Global
$ 0.00
(0.00%)
0
AALAmerican Airlines Group Inc
$ 0.00
(0.00%)
0
AAGRAfrican Agriculture Holdings Inc
$ 0.00
(0.00%)
0
AADRAdvisorShares Dorsey Wright ADR ETF
$ 0.00
(0.00%)
0
AADIAadi Bioscience Inc
$ 0.00
(0.00%)
0
AACGATA Creativity Global
$ 0.00
(0.00%)
0

GEOI Discussion

View Posts
jrt111 jrt111 12 years ago
This will be huge
👍️0
johnsyn johnsyn 13 years ago
Federman & Sherwood Investigates GeoResources, Inc. for Possible Breaches of Fiduciary Duty
Georesources (NASDAQ:GEOI)
Today : Wednesday 25 April 2012
The law firm of Federman & Sherwood has initiated an investigation into Houston-based GeoResources, Inc. (NASDAQ: GEOI) (“GeoResources”) with respect to possible breaches of fiduciary duty by the company’s officers and directors, as well as violations of state law, in connection with its proposed acquisition by Halcón Resources (NYSE: HK) (“Halcón”).
On April 25, 2012, GeoResources, Inc. announced that it had agreed to merge with Halcón, whereby Halcón would acquire all outstanding shares of GeoResources common stock in a cash/stock offer of approximately $973.1 million (or $20.00 per GEOI share, plus 1.932 shares of HK stock for each share of GeoResources stock owned), resulting in GeoResources shareholders receiving approximately $37.97 per share. This merger offer is well below the target price range of $39.00-$43.00 recently announced by several analysts.
Federman & Sherwood is investigating whether: (1) the information being provided to GeoResources shareholders makes all necessary disclosures with respect to the merger; (2) whether the proposed merger offers adequate long-term value to GeoResources shareholders; and, (3) whether GeoResources could have received a premium for its shareholders had the officers and directors aggressively sought other purchasers for the company, thereby depriving GEOI stockholders of any premium if this transaction is approved, which is expected to close in the 3rd quarter of 2012.
If you currently own common stock in GeoResources, Inc., have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact William B. Federman. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.

👍️0
johnsyn johnsyn 13 years ago
The HK deal has made GEOI it's life's high. Still below the merger deal equivalent price- $20 plus just under 2 share of HK per share of GEOI, so it is merger value of about $40 per share of GEOI, though wait til Jul-Sept to collect....
👍️0
johnsyn johnsyn 13 years ago
WELCOME TO 18% OWNERSHIP OF HALCON RESOURCES! UP 18% this morning. Hey! that matches
👍️0
Penny Roger$ Penny Roger$ 13 years ago
~ Tuesday! $GEOI ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $GEOI ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=GEOI&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=GEOI&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=GEOI
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=GEOI#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=GEOI+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=GEOI
Finviz: http://finviz.com/quote.ashx?t=GEOI
~ BusyStock: http://busystock.com/i.php?s=GEOI&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=GEOI >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.
👍️0
TradeBaron TradeBaron 13 years ago
5 Oil Companies with a Chance to Grow:
http://editorial.equities.com/materials/oil-companies-with-a-chance-to-grow/
👍️0
bizzbagg bizzbagg 13 years ago
I bought in at $1.25 several years ago!
👍️0
OilStockReport OilStockReport 14 years ago
Update about GEOI in the Bakken.


GeoResources (GEOI) has 32,500 net operated acres in the Bakken. It has 12,500

net non-operated acres. This is a little less then double its Eagle Ford leasehold. Thirty two percent of proved reserves are in the Williston Basin. Its Bakken acres are located in Williams County, North Dakota. GeoResources began drilling here is September of 2010. It partnered with Slawson Exploration Company in its non-operator acreage. The majority of these acres are in Mountrail County, North Dakota. Slawson has 5 rigs running. GeoResources has 9000 acres in Roosevelt/Richland County Montana. 7,500 acres are operated and 1500 non-operated.

GeoResources operated acres in Williams County has interest in 100 spacing units. Its first well had an IP of 685 BO/D. GeoResources has one rig running and plans to add a second this summer. On average, wells will cost $5.6 million. A short lateral was used with in this 640 acre unit. GeoResources' second and third wells are 1,280 acre units with long laterals. The neighboring oil production companies have had promising results. The closest nine wells to the south had IP rates from 972 to 1947 BO/D. There are 4 to 5 rigs operating close to GeoResources leasehold. GeoResources operated acres are near good operators. The company and its results are:

Brigham Exploration (BEXP)-Between 1339 BOE/D and 2265 BOE/D
Oasis (OAS)-Between 1119 BOE/D and 2080 BOE/D
Newfield (NFX)-Waiting on results
GeoResources has 10% to 18% working interest in its non-operator acres. Eighty-five wells have been drilled here at 100% success. Evaluation of Mountrail County by Slawson and others shows the possibility of second and third wells in working units. Slawson is currently testing the Three Forks. EOG (EOG) and Whiting (WLL) have both had promising results near GeoResources' minor working interest. Bakken development economics is promising. GeoResources states a Bakken well with an EUR of 350 MBO would have:

IP of 500 BOP/D
IRR of 25% ($80/BBL & $5MCF)
IRR of 34% ($90/BBL & $5MCF)
Payout in 3 years
ROI 2.2
A Bakken well with an EUR of 700 MBO would have:

IP of 1100 BOP/D
IRR of 89% ($80/BBL & $5MCF)
IRR of 150% ($90/BBL & $5MCF)
Payout in 1.2 years
ROI 4.9
GeoResources recently increased its 2011 budget. It was raised from $88 million to $114 million. Of this $114 million, $29.5 million will be spent on the operated Bakken acres. This will be used to fund 18 wells and completions of 2010 wells. $21 million will go to Bakken non-operated acres. Next year's budget is estimated at $173 million. In its most recent operations update, GeoResources blamed weather conditions for slowing progress. On March 9th, GeoResources had proved reserves of 24 million barrels of oil equivalent. Sixty percent is oil and 74% proved developed. It produced 1,060,000 barrels of oil, and 4,789 MMCF of gas. This equates to 1,858,000 barrels of oil equivalent. Proved reserves grew 16% year over year. Oil reserves grew 26% while gas reserves increased 4%.
👍️0
OilStockReport OilStockReport 14 years ago
I see some continued upside w/ GEOI!


GeoResources Inc. (GEOI) is a pure value play, and one of the stocks whose assets I really like. I do not own this stock now, but think the stock is cheap considering the properties it holds. GeoResources has acreages in the Eagle Ford and Bakken/Three Forks. It has 45000 net acres in the Bakken and 23000 net acres in the Eagle Ford. GeoResources is continually adding positions in both plays. It has 24 Mmboe proved reserves, with 60% coming from oil. Last year, it averaged 5090 Boe/d. Total net acreage is 235572. Breaking down the acreage into a percentage we see:

Gulf Coast/East Texas-34%

Williston Basin- 32%

Louisiana- 16%

Permian- 9%

Mid-Continent- 6%

Other- 3%

Another area of significance is the Austin Chalk where GeoResources has 29000 net acres. For 2011, cap ex was recently increased from $88 million to $114 million, with 2012 at $173 million. In summary, it is hard not to like this company. See GeoResources: A Play on Eagle Ford and Bakken Shales, for a more in depth article on this company. GeoResources is inexpensive at its current valuation.

P/E Ratio- 26.8

Price to Sales- 4.38

Price to Tangible Book- 2.2
👍️0
logman logman 14 years ago
Hope this thing moves soon
👍️0
logman logman 15 years ago
Oil prices retreating a little this past week
👍️0
logman logman 15 years ago
GeoResources and Resolute Energy Announce Project to Develop Bakken Oil Properties in Williams County, North Dakota


Related Quotes
Symbol Price Change
GEOI 13.92 +0.10
Chart for GeoResources, Inc.
{"s" : "geoi,ren","k" : "c10,l10,p20,t10","o" : "","j" : ""}
Press Release Source: Resolute Energy Corporation & GeoResources, Inc. On Thursday March 4, 2010, 6:00 am EST

HOUSTON & DENVER--(BUSINESS WIRE)--GeoResources, Inc., (“GeoResources”) (NASDAQ:GEOI - News) and Resolute Energy Corporation (“Resolute”) (NYSE: REN - News) today announced a joint project to develop acreage in the Bakken Shale Trend of North Dakota, one of the fastest growing oil producing areas in the U.S.

GeoResources has acquired approximately 61,000 gross (42,000 net) leasehold acres in Williams County, North Dakota. Resolute has entered into agreements with GeoResources to acquire a 45% interest in the acreage and GeoResources will retain a 45% interest and operations. It is expected that a third industry partner will participate for the remaining 10%. The parties presently plan to drill at least three horizontal wells in the Middle Bakken formation prior to year end, as well as seek to acquire additional acreage in the area. Recent activity in Williams County has confirmed commercial production in the Middle Bakken formation, which is a primary objective for the joint venture. Secondary objectives include the Three Forks, Madison and the Red River formations.

Frank A. Lodzinski, Chief Executive Officer and President of GeoResources commented, “We are very pleased to announce this joint venture with Resolute. We believe it will provide a meaningful addition to our ongoing Bakken and Three Forks projects, with attractive economic returns that continue to improve with the evolution of enhanced horizontal drilling and multiple-staged stimulation technologies. As demonstrated by our other drilling activities, we are confident that we can exploit our horizontal drilling and completion abilities in the Bakken In addition, the GeoResources and Resolute technical teams firmly believe the acreage position is prospective for drilling opportunities in other formations. We are very excited to work with Resolute, which has a highly experienced management and technical team and an impressive history of exploiting and developing oil and gas properties.”

Lodzinski continued, “We expect this project to contribute to GeoResources’ continued growth and to provide additional visibility and interest. In less than three years we have tripled our production and reserves and consistently expanded our acreage positions and drilling inventory.”

Nicholas J. Sutton, Chairman and CEO of Resolute commented, “This is a significant opportunity to advance our liquids-focused strategy in an area that has a great deal of promise. These high quality assets in North Dakota are oily, large, and are highly prospective. While the Bakken Shale has been well known by oil companies for years, technological improvements have only recently unleashed its potential. With this transaction, we are well placed to take full advantage of what we believe is a meaningful opportunity to continue to add to our oil reserves in a relatively low-risk manner. We are looking forward to working with the GeoResources team, and believe that collectively we have the experience, technology and know-how to develop these assets into substantial production, both in the near-term and over the long run. As we communicated during our IPO last year, Resolute’s focus continues to be on domestic, onshore areas that are liquids-rich and that provide strong economic returns to our shareholders.”

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program which includes purchases of reserves, re-engineering, and development and exploration activities, currently focused in the Southwest, Gulf Coast, and the Williston Basin. For more information, visit our website at www.georesourcesinc.com.

About Resolute Energy Corporation

Resolute is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, Wyoming and Oklahoma and owns exploration and development properties in Wyoming, North Dakota and Alabama. For more information, visit our website at www.resoluteenergy.com
👍️0
logman logman 15 years ago
Nice gains today.
👍️0
logman logman 15 years ago
Happy Holidays.
👍️0
logman logman 15 years ago
NEWS
GeoResources, Inc. Prices Public Offering of Common Stock


Press Release
Source: GeoResources, Inc.
On 8:55 am EST, Wednesday November 25, 2009
Buzz up! Print
Companies:Georesources, Inc.
HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (NASDAQ: GEOI - News), today announced that it has priced its public offering of 3.0 million shares of its common stock at a public offering price of $10.20 per share (before underwriting discounts and commissions). GeoResources has granted the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock to cover any over-allotments.

👍️0
logman logman 15 years ago
Thanks for posting these. I missed them.
👍️0
GuruTrader GuruTrader 15 years ago
GeoResources, Inc. to Present at the C. K. Cooper and EQUITIES Magazine West Coast Energy Conference
Press Release
Source: GeoResources, Inc.
On Thursday September 17, 2009, 8:00 am EDT
Buzz up! 0 Print.Companies:GeoResources, Inc.
HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (NASDAQ:GEOI - News), announced that it will participate in the C. K. Cooper and EQUITIES Magazine West Coast Energy Conference being held today, September 17, 2009 at the Balboa Bay Club & Resort in Newport Beach, California.

Related Quotes
Symbol Price Change
GEOI 11.48 0.00


{"s" : "geoi","k" : "c10,l10,p20,t10","o" : "","j" : ""} Robert J. Anderson, Vice President of Business Development, Acquisitions & Divestitures is scheduled to present at 10:30 a.m. and at 2:30 p.m. (Pacific). Mr. Anderson’s presentation and accompanying slides will be webcast and can be accessed on the conference website at http://www.equitiesmagazine.com/conference. The Company’s presentation materials will also be available on the Company’s website at www.georesourcesinc.com.

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program which includes purchases of reserves, re-engineering, and development and exploration activities, currently focused in the Southwest and Gulf Coast, Williston Basin and Rocky Mountains. For more information, visit our website at www.georesourcesinc.com.

Forward-Looking Statements Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate," "estimate" or "continue," or comparable words. All statements other than statements of historical facts that address activities that the Company expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of the Company, readers are encouraged to read our Annual Report on Form 10-K/A for the year ended December 31, 2008, and any and all other documents filed with the SEC regarding information about GeoResources for meaningful cautionary language in respect of the forward-looking statements herein. Interested persons are able to obtain free copies of filings containing information about GeoResources, without charge, at the SEC’s Internet site (http://www.sec.gov).


Contact:
GeoResources, Inc.Cathy Kruse, 701-572-2020 701-572-2020 ext. 113cathyk@geoi.net
👍️0
GuruTrader GuruTrader 15 years ago
GeoResources, Inc. to Present at the Rodman & Renshaw Annual Global Investment Conference
Press Release
Source: GeoResources, Inc.
On Wednesday September 2, 2009, 9:00 am EDT
Buzz up! 0 Print
Companies:GeoResources, Inc.
HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (NASDAQ:GEOI - News), today announced that it will participate in the Rodman & Renshaw Annual Global Investment Conference being held September 9-11, 2009 at the New York Palace Hotel.

Related Quotes
Symbol Price Change
GEOI 9.94 0.00


{"s" : "geoi","k" : "c10,l10,p20,t10","o" : "","j" : ""} Frank A. Lodzinski, President and Chief Executive Officer, is scheduled to present on Wednesday, September 9, 2009, at 10:50 a.m. (Eastern). Mr. Lodzinski’s presentation and accompanying slides will be webcast and can be accessed on the conference website at http://www.wsw.com/webcast/rrshq15/geoi. The Company’s presentation materials will also be available on the Company’s website at www.georesourcesinc.com.

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program which includes purchases of reserves, re-engineering, and development and exploration activities, currently focused in the Southwest and Gulf Coast, Williston Basin and Rocky Mountains. For more information, visit our website at www.georesourcesinc.com.

Forward-Looking Statements Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate," "estimate" or "continue," or comparable words. All statements other than statements of historical facts that address activities that the Company expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of the Company, readers are encouraged to read our Annual Report on Form 10-K/A for the year ended December 31, 2008, and any and all other documents filed with the SEC regarding information about GeoResources for meaningful cautionary language in respect of the forward-looking statements herein. Interested persons are able to obtain free copies of filings containing information about GeoResources, without charge, at the SEC’s Internet site (http://www.sec.gov).



Contact:
GeoResources, Inc.Cathy Kruse, 701-572-2020 ext 113cathyk@geoi.net
👍️0
logman logman 15 years ago
Close 11.52
👍️0
logman logman 16 years ago
$8.43 today
👍️0
logman logman 16 years ago
We closed a 7.10 up .14 today.
👍️0
logman logman 16 years ago

Income Statement GEOI
http://finance.yahoo.com/q/is?s=geoi
👍️0
logman logman 16 years ago
GeoResources, Inc. Provides Operations Update
Wednesday February 4, 5:00 pm ET
Continues successful horizontal drilling in Texas and North Dakota; Intends to proceed with its capital budget as planned

HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (Nasdaq:GEOI - News), today provided an operations update. At present, the Company plans to continue its previously announced capital budget and expects to spend approximately $30-$32 million in 2009. Based on internal projections, hedges and Nymex prices, management believes the Company will be able to continue its capital budget out of discretionary cash flow.

ADVERTISEMENT
AUSTIN CHALK

GeoResources continues its successful exploitation of the Austin Chalk formation in Giddings Field, Grimes County, Texas. The Hurst Bay 1-H, which is its fifth dual lateral well, has been drilled and completed. The well was drilled to a vertical depth of over 14,500 feet, with an initial horizontal leg of 7,692 feet. The second horizontal leg was kicked off from a point approximately 1,000 feet into the first lateral and drilled 5,253 feet. The Company anticipates that the well will be on production by mid-February. The previously reported Bax 1-H dual lateral well had an initial production rate in excess of 21 MMCFPD commencing on November 20, 2008, and is currently producing approximately 13 MMCFPD with cumulative production of 1 BCF in the first 60 days. The Company has drilled 10 wells to date and achieved a 100% success rate. The drilling rig has moved to the Hoke Cole 1-H which is also a planned dual lateral. Even at present drilling costs and commodity prices, these wells are highly economical. The Company has recently leased 5,683 Federal acres bringing the total acreage in the project to more than 60,000 net acres for the Company and its affiliated partnership. The Company presently expects 15 additional drilling locations and intends to retain the current drilling rig and spud a new well approximately every 60-75 days. The Company will consider deploying a second rig as drilling costs decline. The Federal acreage is on trend with recent successful drilling and adjacent to numerous private fee tracts under lease by the Company, which simplifies prospect access. Accordingly, while drilling units will be subject to state and Federal approval, the Company believes that development will be able to proceed without inordinate delay. GeoResources is the operator of all of these wells and holds a direct 7.2% working interest. In addition, an affiliated partnership owns an 82.8% working interest. The Company holds a 2% general partner interest in the partnership, which interest increases significantly in accordance with economic performance parameters under the terms of the partnership agreement.

BAKKEN SHALE

The Company holds a 10-15% working interest in approximately 35,000 net acres in Mountrail County, North Dakota, through a joint venture. To date, 11 joint venture wells have been drilled by the operator. The joint venture remains active, has continued to acquire attractive acreage, and continuous drilling is presently anticipated throughout 2009. However, in the near term and until costs decline further, wells may include acreage where the joint venture has lower working interests in order to reduce near term capital expenditures. In response to current economics, the operator has curtailed some production and deferred completion of new wells until the spring. As reported by numerous operators, the general level of drilling activity in the Bakken Shale play in North Dakota has slowed due to reductions in commodity prices. The joint venture completed well costs to date have been approximately $5.0 million per well. We expect near term joint venture well costs to be approximately $4.5 million and to average under $4.0 million in four to six months. The Peacemaker 1-8H (3.9% WI) has been completed and started producing early October; however, production has been curtailed to 200 BOPD until prices recover. The Bandit 1-29H (7.4% WI) and the Nightcrawler 1-17H (4.7% WI) have both been drilled but are waiting on fracture stimulation. The joint venture has also drilled the Banshee 1-1H well (4.5% WI), which is in the heart of the play, and it is waiting on completion. The rig is now moving to the Jericho 1-5H well (2.8% WI), the Wombat 1-25H (WI TBD) and then the Raptor 1-6H (10% WI). The Company anticipates that the Raptor will finish in late April to early May.

OTHER NORTH DAKOTA ACTIVITY

As previously announced, the Company has unitized certain shallow oil fields in Bottineau County, North Dakota, for secondary water flood operations and is continuing these activities. A recent increase in the Starbuck Madison Unit production, which includes more than 6,000 net acres, is believed to be initial secondary recovery response. The Company has a 95.88% working interest and an 81.22% net revenue interest in this unit. Phase Two of the development plan was initiated in the fourth quarter and is substantially complete; the Company has temporarily postponed the installation of some flow lines due to extreme weather. Using its base case, management estimates 1.4 million Bbls recoverable with a development cost of approximately $4.00-$5.00 per barrel. Recoverable reserve estimates range from 1.0 million Bbls to 2.4 million Bbls. At Southwest Starbuck, we have completed Phase One of the water flood plan which included drilling one injection well and installing a water plant and flow lines. Initial water injection commenced mid January. The plant and flow lines will also serve the south end of the Starbuck Madison Unit. The initial flood design includes 560 gross acres with a 97.52% working interest and 75.42% net revenue interest. Management estimates that an incremental 170,000 Bbls are recoverable, net to the Company’s interest. Additionally, the Company has drilled and cored an evaluation well at its Northeast Landa Field to support its unitization plan. The Company’s present working interest is 92%. Pending unitization, Phase One flood installation is expected to begin in the third quarter. Even at reduced commodity prices, management believes that the economics of these secondary recovery projects remain attractive.

OKLAHOMA

The previously announced Oklahoma acquisition added numerous proved and potential drilling locations. The Company believes it can exploit exploration and development opportunities associated with the acreage and in acres close by. While lower gas prices have negatively impacted drilling economics, the Company is high-grading drilling locations and has scheduled drilling the first five wells. Additional drilling is expected to be scheduled, particularly as drilling costs decline. The Olson 1-21, a development well, is currently drilling in Roger Mills County to an estimated total depth of 13,800 feet, where the Company has a 26.67% working interest.

GULF COAST DRILLING

The Company is presently drilling or participating in the following wells in the Gulf Coast:

1. Romero #1, Vermillion Parish, Louisiana, 10.42% working interest, estimated total depth of 16,200 feet. This is a development well with exploratory objectives.
2. Conner Heirs #1, Jefferson Davis Parish, Louisiana, 12% working interest, estimated total depth of 15,750 feet. The well is a low risk exploratory test well with multiple objectives and offset production in an adjacent fault block.
3. Moore #1, LaFourche Parish, Louisiana, 6% working interest, estimated total depth of 11,200 feet. The well is an exploratory test with multiple objectives. A second shallow gas well, the Moore #2 with a total depth of 3,200 feet will spud immediately after drilling the initial well. The Company’s working interest in the shallow gas well is 17%. The Company expects to have a 17% working interest in all additional development wells, if any.

WEATHER RELATED ISSUES

Approximately 350-400 Bopd, net to the Company, was shut in as a result of hurricanes in the late summer. Production started to be phased back in late October, but has not reached prior levels and is still under the second quarter, 2008 by about 100 Bopd. Due to the low commodity prices, additional work will likely be further deferred in anticipation of declining construction and workover costs. The Company has incurred incremental operating and capital expenses as a result of the hurricanes. Estimated expenditures in the third and fourth quarters have totaled approximately $1.5 million and we believe a significant portion will be covered by insurance. Amounts cannot be determined with certainty at this time. In addition, due to the extreme cold temperatures and large amounts of snow in the Williston Basin, the Company has elected to defer repairing certain wells and facilities and have shut-in approximately 50 Bopd.

COMMENTS

Frank A. Lodzinski, Chief Executive Officer of GeoResources, said, “We are pleased that our drilling and development programs continue to deliver positive results and that we have been able to acquire additional acreage at attractive prices. In spite of the rapid and steep decline in commodity prices, we have not yet reduced our planned capital budget and believe, predicated on the current Nymex strip and our hedge positions, that with reasonable success we can continue with our 2009 planned budget totaling approximately $30–$32 million. We expect to continue to develop our assets and selectively expand our acreage and prospect inventory, both for our direct interests and our partnership interests. A large portion of our inventory is “held by production” and accordingly, certain projects which are impacted adversely by local markets can be deferred in favor of other projects with more favorable near term economics. We believe we can remain cash flow positive and fulfill all known obligations.”

Mr. Lodzinski further stated, “Our approach and business strategy allows us to meet the challenges of the financial markets and price volatility. While we have continued our capital spending, we anxiously await reduced drilling and service costs. We believe our business strategy and financial management will allow us to survive and prosper during the collapse of the financial markets and industry downturn. It is important for investors to note that, i) we have reduced our debt by $56 million in 2008 to $40 million, ii) we have considerable cash flow to support our staffing, obligations and capital expenditures, and iii) because many of our opportunities are “held by production,” we can shift our capital budget to projects with greater economics under current conditions. We believe our diversified approach contributes to our strength and staying power and will allow the Company to continue to grow profitably.”

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program which includes purchases of reserves, re-engineering, and development and exploration activities, currently focused in the Southwest, Gulf Coast and the Williston Basin. For more information, visit our website at www.georesourcesinc.com.

Forward-Looking Statements

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate," "estimate" or "continue," or comparable words. All statements other than statements of historical facts that address activities that the Company expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of the Company, our Annual Report on Form 10-KSB/A for the year ended December 31, 2007, and any and all other documents filed with the SEC regarding information about GeoResources for meaningful cautionary language in respect of the forward-looking statements herein. Interested persons are able to obtain free copies of filings containing information about GeoResources, without charge, at the SEC’s Internet site (http://www.sec.gov).


Contact:

GeoResources, Inc.
Cathy Kruse, 701-572-2020 ext. 113
cathyk@geoi.net

Source: GeoResources, Inc.


👍️0
logman logman 16 years ago
Crude oil up 5% on Gaza tension, OPEC meeting
www.chinaview.cn 2009-01-06 05:51:41 Print

NEW YORK, Jan. 5 (Xinhua) -- Crude oil added more than 5 percent on Monday as the military tension in the Middle East and a possible OPEC emergency meeting next month weighed on the market.

Light, sweet crude for February delivery rose 2.47 U.S. dollars to settle at 48.81 U.S. dollars a barrel on the New York Mercantile Exchange. Price rose to as high as 49.28 dollars a barrel during the trading.

Investors are still concerned that the ongoing tension between Israel and Hamas in Gaza would disrupt oil supplies in the Middle East, a factor that has been bolstering oil prices in recent trading sessions.

Speculation of another OPEC emergency meeting next month added to the gains of the oil price. Iran's state television said OPEC countries have decided to hold an extraordinary meeting on the falling oil prices in February. The oil cartel is scheduled to meet in Vienna on March 15.

An energy dispute between Russia and Ukraine over gas supply also contributed to the rally of the crude oil.

In London, Brent crude for February delivery rose 2.71 dollars to settle at 49.62 dollars a barrel on the ICE Futures Exchange.
👍️0
logman logman 16 years ago
Hope 2009 will be a good year for GEOI.

I don't know why they aren't giving us any news???
👍️0
logman logman 16 years ago
Democrats to let offshore drilling ban expire

By ANDREW TAYLOR – 5 hours ago

WASHINGTON (AP) — Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer.

House Appropriations Committee Chairman David Obey, D-Wis., told reporters Tuesday that a provision continuing the moratorium will be dropped this year from a stopgap spending bill to keep the government running after Congress recesses for the election.

Republicans have made lifting the ban a key campaign issue after gasoline prices spiked this summer and public opinion turned in favor of more drilling. President Bush lifted an executive ban on offshore drilling in July.

"If true, this capitulation by Democrats following months of Republican pressure is a big victory for Americans struggling with record gasoline prices," said House GOP leader John Boehner of Ohio.

Democrats had clung to the hope of only a partial repeal of the drilling moratorium, but the White House had promised a veto, Obey said.

The House is expected to act on the spending bill Wednesday. The Senate is likely to go along with the House.

"The White House has made it clear they will not accept anything with a drilling moratorium, and Democrats know we cannot afford to shut down the government over this," said Jim Manley, a spokesman for Senate Majority Leader Harry Reid. "We look forward to working with the next president to hammer out a final resolution of this issue."

While the House would lift the long-standing drilling moratoriums for both the Atlantic and Pacific coasts, a drilling ban in waters within 125 miles of Florida's western coast would remain in force under a law passed by Congress in 2006 that opened some new areas of the east-central Gulf to drilling.

Just last week, the House passed legislation to open waters off the Atlantic and Pacific coasts to oil and gas drilling but only 50 or more miles out to sea and only if a state agrees to energy development off its shore. It quickly became clear that measure would not get the 60 votes needed in the Senate.

Republicans called that effort a sham that would have left almost 90 percent of offshore reserves effectively off-limits.

The Interior Department estimates there are 18 billion barrels of recoverable oil beneath the Outer Continental Shelf, about half of it off California.

While the ban on energy development will be lifted if the Senate goes along with the House action, it doesn't mean any federal sale of oil and gas leases in the offshore waters — much less actual drilling — would be imminent.

The Interior Department's current five-year leasing plan includes potential leases off the Virginia coast but probably would not be pursued unless the state agrees to energy development. And the state is unlikely to do so without Congress agreeing to share federal royalties with the state.

The congressional battle over offshore drilling is far from over. Democrats are expected to press for broader energy legislation, probably next year, that would put limits on any drilling off most of the Atlantic and Pacific coasts. Republicans, meanwhile, are likely to fight any resumption of the drilling bans that have been in place since 1981.

John McCain, the Republican presidential nominee, has promised to make offshore oil drilling a priority if elected president. He has called for developing the oil and gas resources along all of Outer Continental Shelf and for the federal government to share royalties with states who go along with drilling.

Democratic presidential rival Barack Obama has said he would support limited drilling in certain areas — possibly the South Atlantic region — if it is part of a broader energy plan to shift the U.S. away from oil to alternative fuels and more energy efficiency.

The debate over offshore drilling is not expected to subside in the first months of the next presidency — no matter who sits in the White House.

Lifting the drilling ban gives considerable momentum to the underlying bill, which includes the Pentagon budget, $24 billion in aid for flood and hurricane victims and $25 billion in loans for Detroit automakers in addition to keeping the government open past the Oct. 1 start of the 2009 budget year.

But Democrats decided not to use the must-pass measure as a battering ram to carry an extension of unemployment benefits for the long-term jobless past White House veto promises, prompting grumbling among some lawmakers. Efforts to boost food stamps and give states billions of dollars to help with Medicaid bills also fell through.

But the measure would double, to $5.2 billion, funding for heating subsidies for the poor, Obey said.

The measure also would provide more than $600 billion to fund the 2009 budgets for the Pentagon, Homeland Security Department and the Veterans Affairs Department. Nine other spending bills for the 2009 budget year starting Oct. 1 remain unfinished.

Bush had threatened to veto bills that don't cut the number and cost of pet projects known as "earmarks" sought by lawmakers in half from current levels or cause agency operating budgets, taken together, to exceed his request. Obey said, however, the White House would reluctantly sign the measure.

Associated Press writer H. Josef Hebert contributed to this report.
👍️0
logman logman 16 years ago
GeoResources, Inc. Provides Operations Update
Tuesday August 12, 8:30 am ET
Continues Successful Horizontal Drilling in Texas and North Dakota

HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (Nasdaq:GEOI - News), today provided an operations update. The Company has completed additional horizontal wells in Texas and North Dakota.

ADVERTISEMENT
DRILLING RESULTS

GeoResources continues its successful exploitation of the Austin Chalk formation in the Giddings Field, Grimes County, Texas with its completion of the Keisler #2-H horizontal dual lateral well for an initial production rate in excess of 20 MMCFPD. This is the third dual lateral and the ninth successful completion since closing the acquisition of the field in February of 2007. The Company has achieved a 100% success rate in drilling these Austin Chalk horizontal wells. Previously, the Company reported that the Jeff Haynie was completed for 17 MMCFPD. This well has reached the 1 Billion Cubic Feet of cumulative gas production in just 70 days, quicker than any other well the Company has drilled, and it is continuing to produce at over 10 MMCFPD. The significance of reaching this milestone in such a short time period is the quick payout of the drilling capital as well as an indication of the ultimate gas recovery from the well. Several wells in this area that have cumulative production of 1 BCF within the first four months are reasonably projected to have estimated ultimate reserves exceeding 5 BCF. The Company continues to pursue its development strategy and is currently drilling the Bax #1-H as a dual lateral well which is expected to be completed and placed on production during the third quarter.

The Company has acquired additional acreage in the Giddings Field area and is in the process of permitting more drilling locations. Based on continued technical evaluation, successful leasing and acceptable well performance, GeoResources expects to retain the current drilling rig and crew and spud a new well approximately every 60-75 days for the next three years. The Company is the operator of these wells and holds a direct 7.2% working interest. In addition, an affiliated partnership owns an 82.8% working interest. The Company holds a 2% general partner interest in the partnership, which increases significantly in accordance with economic performance parameters under the terms of the partnership agreement.

The Company’s Mountrail County, North Dakota drilling activity remains quite active with the Pathfinder #1-9H (5.1% Company Working Interest (“WI”)) now completed with an initial production rate of 1,463 BOEPD but limited to 600 BOPD by oil pipeline capacity issues. The Prowler #1-16H (6.1%WI) was fracture stimulated during late July and had an initial rate of 908 BOEPD. The Prospector #1-36H (5.1%) and the Payara #1-21H (6.0%WI) are both currently in process of completion. The Voyager #1-28H (8.9%WI) is expected to commence drilling within three weeks of moving off the completion of the Payara #1-16H. The second contracted rig is currently scheduled to commence drilling of the Goldeneye #1-2H (4.1% WI) in approximately two weeks with the Peacemaker #1-8H (3.8% WI), the Bandit #1-29H (10.0% WI) and the Nightcrawler #1-17H (4.5% WI) scheduled to follow. These and previously reported wells total nine gross wells and the Company presently has an additional eight wells scheduled. The program is continuing and numerous projected wells are in process of being planned and of being permitted.

The Company holds a 10–15% working interest in approximately 26,000 acres in Mountrail County, North Dakota and is participating in numerous Bakken Shale wells through a joint venture with Slawson Exploration. Continuous drilling with one drilling rig is expected throughout 2008 and 2009 and a second rig has been contracted and is scheduled to commence operations within the next two weeks. In addition, GeoResources presently has minor interests in twenty-four wells or locations that are producing, in various stages of drilling and completion or are scheduled. These small participations result in valuable engineering and geological data. As the Company concentrates on Slawson operated wells, it will evaluate all available technical information while attempting to increase its position in this expanding play.

OKLAHOMA ACQUISITION

The previously announced Oklahoma acquisition results in approximately 100 additional drilling locations with the vast majority being proved undeveloped locations. In addition, management believes that the acreage provides significant exploration and development opportunities directly associated with the acquired interests and in regional proximity thereto. GeoResources’ management and technical staff have significant prior experience in Oklahoma. The acquisition closed in June and the Company is presently organizing a drilling program which is expected to begin in the 4th quarter.

COMMENTS

Frank A. Lodzinski, Chief Executive Officer of GeoResources, said, “Our drilling and development program continues to deliver positive results. We expect to continue to develop our assets and expand our acreage and prospect inventory. We are pleased with our entry into Oklahoma, where we have considerable prior experience. That acquisition brings significant drilling opportunities and we believe we can expand in the areas. Over the next few months we expect to be revising our capital budget to incorporate our Oklahoma drilling and to reflect results of other projects currently under development. We believe our diversified approach will allow the Company to continue to grow profitably.”

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program which includes purchases of reserves, re-engineering, and development and exploration activities, currently focused in the Southwest and Gulf Coast, the Williston Basin and the Rocky Mountains. In April 2007, the Company completed the merger with Southern Bay Oil and Gas, L.P. and Chandler Energy, LLC. For more information, visit our website at www.georesourcesinc.com.
👍️0
logman logman 16 years ago
Press Release Source: GeoResources, Inc.

GeoResources, Inc. Reports Second Quarter and Six-Months Financial Results
Monday August 11, 10:26 am ET

HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (NASDAQ:GEOI - News), today announced its financial results for the first six-months and the quarter ended June 30, 2008, compared to the results for the same periods in 2007.


For the three months ended June 30, 2008, the Company reported net income of $7.8 million, or $0.50 per share (diluted) compared to a net loss of $1.3 million or $0.09 per share in 2007. Total revenue increased 240% to $28.2 million in the second quarter of 2008 compared to $8.3 million the same quarter in 2007.

For the first half of 2008, net income was $12.0 million, or $0.80 per share, on revenue of $52.2 million versus a net loss of $463,000, or $0.05 per share on revenue of $12.4 in the first half of 2007.

Oil and natural gas production increased substantially in the second quarter. Natural gas production increased to 719 MMcf from 361 MMcf, an increase of 99%. Oil production for the second quarter increased to 186 MBbls from 82 MBbls in the prior year’s period, an increase of 127%.

For the six months ended June 30, 2008, natural gas sales totaled 1,528 MMcf or 177% greater than the 552 MMcf sold during the first half of 2007. Oil sales for the first half of 2008 increased 204% to 386 Mbbls from 127 Mbbls in the first half of 2007.

The average realized price of natural gas was $9.74 per Mcf for the second quarter of 2008, 41% more than the second quarter of 2007. The average realized price of oil for the second quarter of 2008 was $97.66 per barrel or 75% more than the second quarter in the prior year.

The average realized price of natural gas was $8.68 per Mcf for the first half of 2008 or 31% more than the first half of the prior year. The average realized price of oil was $89.01 per barrel or 63% more for the first half of 2008 than the first six months in the prior year.

Earnings before interest, income taxes, depreciation, depletion and amortization, and exploration expense (“EBITDAX”) increased 581% to approximately $17.7 million for the second quarter 2008 compared to $2.6 million in the second quarter 2007. EBITDAX for the first six-months of 2008 increased 552% to approximately $30.0 million compared to $4.6 million in prior year’s first half.

The following tables reconcile reported net income to EBITDAX for the periods indicated (in thousands):

Three Months Ended June 30,
2008 2007


Net income (loss) $ 7,790 $ (1,349 )
Add back:
Interest expense 1,314 199
Income tax 4,546 1,849
Depreciation, depletion and amortization 3,573 1,932
Exploration and impairments 502 -

EBITDAX (1) $ 17,725 $ 2,631





What we found at the end of our Rainbow.

Thanks Texas 2

👍️0
logman logman 16 years ago
Looks like a good stock. I see they have some land in the Bakken formation.


What we found at the end of our Rainbow.

Thanks Texas 2

👍️0
logman logman 16 years ago
Shares Outstanding: 14.70M

Float: 4.07M

% Held by Insiders1: 75.52%

% Held by Institutions1: 7.00%


What we found at the end of our Rainbow.

Thanks Texas 2

👍️0
logman logman 16 years ago
Just bought some stock in GEOI today
👍️0
stickfigurefred stickfigurefred 17 years ago
Anybody see where this is going with GE partnership?

Fred
👍️0
pinkeyepete pinkeyepete 18 years ago
Cathey in PR sent me a email about the merger a month ago trying to get everyone to vote in favor.
👍️0
xxxxtrader xxxxtrader 18 years ago
GEOID $7.18. #1 Nasdak big board play! GEOI trading as GEOID now:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=geoid&sid=0&o_symb=geoid&...

And iz runnin up tha score! I think itz ova tha 7 hurdle for good now, and pickin up momo. This is my #1 big board pick fo tha nexxxxt month as all tha Hedgies and Fundies jump onboard.

I think they have to make a filing to remove tha "D", but as soon as they do, I'm sure we'll hear some BIG ANNOUNCEMENTS about this ***undiscovered*** oil/gas "ipo" that just grew 7 timez bigga and moved from North dakota to Houston...

Maybe they can take over Enrons old offices!

Tha play started 3 weeks ago on 4/4/07, right afta tha last 10Q lett tha last few insider sellaz out, since then itz been UP UP and AWAY:

http://www.investorshub.com/boards/read_msg.asp?message_id=18487949

And everything has workked out as planned- the merger went thru, summ hedgies are jumpin onboard, and itz up 98 pointz... my targitt iz 9 here in tha nexxxxt few weeks as more hedgies and fundies jump onboard, but if GEOI goez like 2006 oil/gas ipos, and with only 14m o/s I'm sure it will!, I bet we see 20's and 30's by the end of tha year- this is an all-around slam dunk play!


👍️0
pinkeyepete pinkeyepete 18 years ago
Geoi has mergered with 2 other companies, but if I understand the PR correctly the stock will start trading again soon. I got a email from Cathey the PR lady with the company a few weeks ago, and didn't read it all the way as it was for stockholders to vote, and I hadn't owned Geoi in 9 months.

I posted the merger PR on the the Geoi yahoo board if anyone is intrested.
👍️0
xxxxtrader xxxxtrader 18 years ago
GEOID $6.95/$7. I think tha Fundies and Hedgies aren't jumpin in with both feet yet b-cuz of tha "D". I think if tha D cumz off, it flies like an HOTT oil/gas ipo should in this markitt!
👍️0
xxxxtrader xxxxtrader 18 years ago
Southern Bay, Chandler fold into GeoResources
Wednesday April 18, 2:12 pm ET


Southern Bay Oil & Gas LP and Chandler Energy LLC have officially been merged with GeoResources Inc., following shareholder approvals.
Williston, N.D.-based GeoResources, a natural resources company, remained the surviving entity, but the corporate headquarters will be relocated to Houston.

To merge the companies, Southern Bay made capital contributions of about $19.4 million.

Southern Bay partners received about 8.3 million shares of GeoResources' common stock, while Chandler members received 1.9 million shares. Certain working-interest owners in a Chandler-operated oil and gas project in eastern Colorado received 496,000 shares. Total outstanding common shares increased to about 14.6 million shares.

As part of the merger, GeoResources' common stock was approved for listing on the NASDAQ Global Market and trades under the symbol "GEOI." The GeoResources board was reconstituted to have total of seven directors comprised principally of parties appointed by Houston-based Southern Bay, an owner of oil and gas properties, and Denver-based exploration company Chandler Energy.

The executive officers are:


Frank Lodzinski, president and chief executive officer. He held the same role with Southern Bay.
Collis P. Chandler III, executive vice president and chief operating officer for the Northern region. Chandler headed up Chandler Energy.
Francis Mury, executive vice president and COO of the Southern region. Mury had the same role for Southern Bay.
Jeffrey Vickers, GeoResources' president, is now vice president, Williston Basin exploration and development of the new entity.
Robert Anderson, vice president of acquisitions and divestitures for Southern Bay, retains the same title and adds business development.
Howard Ehler of Southern Bay continues as vice president and chief financial officer for the new company.
Cathy Kruse, corporate secretary for GeoResources retains her title.
The new entity has assets in the Gulf Coast, Rocky Mountains and Williston Basin, with a current daily production of about 1,500 barrels of oil equivalent.

Published April 18, 2007 by the Houston Business Journal


👍️0
energymanNJ energymanNJ 18 years ago
Nasdaq: GEOI>>GeoResources, Inc. Reports Results of Special Shareholders' Meeting

WILLISTON, N.D., April 2, 2007 /PRNewswire-FirstCall via COMTEX/ -- GeoResources, Inc., (), today announced that at a special meeting of shareholders on March 29, 2007 in Williston, North Dakota, the shareholders of the company approved the issuance of shares pursuant to the merger agreement with Southern Bay Oil & Gas, L.P. and Chandler Energy, LLC. However, the approval by two- thirds of GeoResources shareholders to increase the total authorized shares of stock to 100 million common shares and 20 million preferred shares from the 10 million common shares currently authorized was not obtained, which is one of the conditions to closing the merger agreement, as the Company does not have enough authorized but unissued shares to complete the approved transactions. The meeting was therefore adjourned until April 17, 2007 in order to solicit additional proxies on this proposal. The Company needs approximately 565,000 additional shares or 14.9% of its outstanding shares, to vote for the proposal in order for it to be adopted. Also receiving shareholder approval was the Company's Amended and Restated 2004 Employee Stock Incentive Plan.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051114/CGM073LOGO )

About GeoResources, Inc.

GeoResources, Inc., a Williston, North Dakota-based natural resources company, is engaged primarily in oil and gas exploration and production and oil and gas drilling. For more information visit the company's website at www.geoi.net.

About Southern Bay Oil & Gas L.P.

Southern Bay Oil & Gas, L.P. is headquartered in Houston, Texas. Southern Bay and its subsidiaries own and operate producing oil and gas properties on the Texas and Louisiana Gulf Coast, and in the Permian Basin in Texas. Southern Bay and its affiliates also conduct oil and gas exploration operations in these geographic areas. For more information visit the company's website at www.southernbayenergy.com.

About Chandler Energy, LLC

Chandler Energy, LLC is a Denver, Colorado based oil and gas exploration and production company with operations in the Rocky Mountains and Michigan.

Forward-Looking Statements

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate," "estimate" or "continue," or comparable words. GeoResources cannot make any assurances that the agreement referenced in this release will close. In addition, all statements other than statements of historical facts that address activities that the company expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of the Company, particularly its Form 10-KSB for the Fiscal Year Ended December 31, 2005, for meaningful cautionary language disclosure.

SOURCE GeoResources, Inc.



CONTACT: Cathy Kruse, of GeoResources, Inc., +1-701-572-2020, ext 113, cathyk@geoi.net

URL: http://www.georesources.net/
http://www.prnewswire.com
www.prnewswire.com

Copyright (C) 2007 PR Newswire. All rights reserved

👍️0
goofyfoot goofyfoot 18 years ago
Heard about this on the Yahoo! BDCO message board. Bought in today at $6.69. It's supposed to merge with another company, based on a shareholder vote. Supposed to hit $8/share, according to some fundamental analysis I read. I'm hopin' it does!
👍️0
coolwire coolwire 20 years ago
Geoi settling down a bit after run up. But can this push higher with oil prices scooting higher. Methinks yes, maybe all the way to $ 10.00 share. Now at #6.375 / share.
👍️0
DCschmoeka DCschmoeka 20 years ago
latest GRUB ever
👍️0