Geo Finance Corporation Shareholder Update
09 Setembro 2010 - 12:34PM
Marketwired
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: www.geofinancecorp.com
Contacts: Geo Finance Corporation John M. Arnold C.E.O. 1 416
669 2416 j.m.arnold1943@gmail.com Geo Finance Corporation Suite 550
- 141 Adelaide St W Toronto, Ontario M5H 3L5
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