Geo Finance Corporation

September 09, 2010 11:34 ET

Geo Finance Corporation Shareholder Update

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - Geo Finance Corporation (PINK SHEETS:GEFI) -

To the shareholders;

Your directors have returned to their roots – conventional oil and gas production in the United States. Several of your directors' originally ventured into the business in 1975 with successful participation in a series of oil and gas wells in New York State, Ohio and Pennsylvania. Control of the company was eventually sold to the benefit of its shareholders.

Mr. Marvin Gibbins has agreed to join your Board, bringing many years of successful experience in the continental U.S.A oil patch to our team.

Geo Finance continues to investigate and develop concepts, ideas and proposals for alternative energy projects in a variety of locales, but with the ongoing difficulties in credit markets world-wide, financing of projects of this nature is very problematic. Management has devoted an excessive amount of time, energy and personal funding to these projects but has not been able to bring any secure projects to fruition at this time.

The company is continuing to monitor opportunities for the initial business model and when the economic indicators change, we will revisit these opportunities. The Company is also continuing to review other environmentally beneficial technologies which have the potential to be developed into profitable business models for Geo Finance.

As a result of Geo Finance being unable to generate real cash flows from these projects, your directors determined that a different business model was required to provide real, sustainable returns to our shareholders.

In keeping with our desire to be involved in all facets of the energy sector, we have begun to acquire interests in producing and past producing conventional, onshore oil and gas within the continental U.S.A. (See Press Release dated August 16, 2010 Company Acquires Participating Interest in Medlin Field Oil and Gas Property).The Company plans to consolidate relatively small units of production, rework the wells where necessary and when feasible, drill and produce from previously un-exploited zones available within the lease areas.

The Company believes that there is a very real opportunity to assemble significant oil and gas production at rock bottom prices which have resulted from the current downturn in the overall economy. We do not believe that these depressed prices are permanent and we are endeavoring to capitalize on availability of production within the U.S.A. for long term profitability.

Respectfully submitted

John M. Arnold, President, Geo Finance Corporation

Toronto, Canada

Caution Concerning Forward-Looking Statements

This release and related documents may contain certain "forward-looking statements" including, but not limited to, statements relating to acquisition of and production from oil and gas wells, future acquisition and development work and the expected results of this work. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in oil and gas prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of oil and gas wells acquired or developed; uncertainties involved in the interpretation of drilling results and other tests; the possibility that required permits may not be obtained in a timely manner or at all; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the production, development or exploration operations.

Forward-looking statements contained in this letter to shareholders and related documents are based on the beliefs, estimates and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Geo Finance Corporation undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Visit our Website:

Contact Information

  • Geo Finance Corporation
    John M. Arnold
    1 416 669 2416
    Geo Finance Corporation
    Suite 550 - 141 Adelaide St W
    Toronto, Ontario
    M5H 3L5