Geo Finance Corporation

November 07, 2011 09:00 ET

Geo Finance Corporation (GEFI) Concludes its Due Diligence For Acquisition of Texas Leases

TORONTO, ONTARIO--(Marketwire - Nov. 7, 2011) - Geo Finance Corporation (PINK SHEETS:GEFI) is pleased to announce it has completed its diligence of the acquisition of a lease package in Wichita and Archer Counties, Texas.

As announced in the Press Release of August 15, the lease which covers approximately 200 acres has 30 existing closed wells and one injection well, which the company intends to re-work and bring back on line as well as examine the potential for production from additional zones that may be present on this lease not previously produced from.

The due diligence review included but was not be limited to an examination of past production records, area production records, effectiveness of existing equipment on site and a review of title. Mr. Arnold, the CEO of Geo Finance Corporation attended the final steps of the review process in Witchita and Archer Counties, Texas and reported that "I have seen the production records, reviewed the final report of the geologist, the adjoining production of others in the area and am very enthused about the future earnings anticipated from this field. We now will be seeking assistance from a financial partner to complete the acquisition and put this field into production as soon as possible."

About Geo Finance Corporation: Geo Finance Corporation is a Florida entity established to develop and invest in energy related projects including waste to energy, geothermal collection fields, natural gas and petroleum production. The administrative office is based in Toronto, ON, Canada.


Statements in this document regarding the Transaction, the expected timetable for completing the Transaction, benefits and synergies of the Transaction, future opportunities for the company, expectations regarding the value and benefits of the Transaction and any other statements about Geo Finance Corporation's managements' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: the ability of the parties to consummate the Transaction and satisfy the conditions thereunder; the ability to obtain, the impact of any actions taken by any other party to complicate, delay or prevent the transaction Except as required by applicable law, Geo Finance Corporation disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

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