GeoResources Announces Private Placement

GeoResources, Inc. has entered into definitive agreements with institutional investors to sell 1.53 million shares of unregistered common stock in a private placement for $22.50 per share for gross proceeds of $34.5 million. The investors in this private placement will also receive five-year warrants to purchase up to an additional 613,000 shares at an exercise price of $32.43.

Proceeds from the transaction will be used to repay indebtedness and to fund exploration and development, acquisitions, hedging activities and general corporate purposes.

Wachovia Securities acted as sole placement agent for the offering and C.K. Cooper & Company acted as financial advisor to the Company.


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