The Company currently has 31,583,007 Common Shares outstanding. The proceeds of the sale of common shares will be used to fund the Company's exploration and development program and for general working capital purposes.
In connection with the Private Placement, the Company has agreed to file a registration statement covering the shares with the United States Securities and Exchange Commission.
GeoPetro is an independent oil and natural gas company headquartered in San Francisco, California. GeoPetro currently has projects in the United States, Canada and Indonesia. GeoPetro has developed a producing property in its Madisonville Project in Texas and is conducting a drilling program in East Kalimantan, Indonesia. Elsewhere, GeoPetro has assembled a geographically diversified portfolio of exploratory and appraisal prospects.
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