Period Floor Cap Volume (MMBtu)
------ ----- ----- --------------
-- Summer 2010 $5.50 $6.35 856,000
-- Winter 2010 - 2011 $6.50 $7.45 604,000
Darby Seré, the Company's Chief Executive Officer, said, "There is still
considerable uncertainty regarding natural gas prices over the near term.
Together with our ongoing operational and administrative cost reduction
efforts, these new hedges mitigate the risk to our cash flows and operating
margin associated with lower natural gas prices."
An updated schedule of GeoMet's natural gas hedge position as of this date
is attached.
Forward-Looking Statements Notice
This press release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are subject to certain risks, trends and uncertainties that
could cause actual results to differ materially from those projected.
Careful consideration should be given to cautionary statements made in the
various reports the Company has filed with the SEC. GeoMet undertakes no
duty to update or revise these forward-looking statements.
About GeoMet, Inc.
GeoMet, Inc. is an independent energy company primarily engaged in the
exploration for and development and production of natural gas from coal
seams ("coalbed methane") and non-conventional shallow gas. Our principal
operations and producing properties are located in the Cahaba Basin in
Alabama and the Central Appalachian Basin in West Virginia and Virginia. We
also control coalbed methane and oil and gas development rights,
principally in Alabama, British Columbia, Virginia, and West Virginia.
Contact Information: For more information please contact: Stephen M. Smith (713) 287-2251 John Baldissera with BPC Financial (800) 368-1217 or visit our website at www.geometinc.com
