GEOPETRO RESOURCES COMPANY
PROVIDES AN UPDATE ON BUSINESS DEVELOPMENT ACTIVITIES
SAN FRANCISCO, CALIFORNIA, U.S.A., September 19, 2025 – GeoPetro Resources Company (“GeoPetro” or the “Company”) continues to be aggressive in pursuing new project acquisition opportunities as part of the Company’s business development activities. The Company reviews an average of approximately one to two acquisition opportunities per month.
During the past few years, the Company has made the following offers to acquire an interest in the following oil and gas projects:
- An offer of $36.5 million with an industry joint venture partner for the acquisition of an oil and gas property in Texas. It is the Company’s understanding that the project was pulled off the market by the seller as the price of oil increased dramatically from approximately $60.00/Bbl. to approximately $103.00/ Bbl.
- An offer of $20.0 million with an industry joint venture partner for the acquisition of oil and gas assets also in Texas. The Company has been led to believe that another party prevailed in acquiring these assets.
- An offer of $14.0 million with an industry joint venture partner for the acquisition of an oil and gas property also in Texas. The Company was advised that we were aggressively outbid for the project.
- An offer of $11.0 million for a 100% working interest in an oil and gas asset in Pennsylvania. The seller pulled the asset off the market as it decided to sell its entire portfolio of properties.
- An offer of $416.0 million for the acquisition of 100% of the oil and gas assets of a company in Pennsylvania. The Company was advised that one of the shareholders of the selling company, a North American focused investment firm engaged in the energy sector, pre-empted the Company’s offer and bought all of the assets.
- An offer of $201.0 million for the acquisition of a 50% working interest in a major oil and gas asset in Alaska. The seller declined the offer.
The above offers were made subject to customary and standard contingencies common to these types of transactions.
GeoPetro plans to remain active in evaluating oil and gas assets, and making an offer when and where appropriate after conducting its due diligence. The Company is hopeful that one or two of these transactions will be consummated in the future, although no assurance can be provided.
About GeoPetro
GeoPetro is an independent oil and natural gas company headquartered in San Francisco, California. The Company’s website is www.geopetro.com.
Cautionary Statements
Certain items in this press release and other information GeoPetro provides from time to time may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future events and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately, ” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “target,” “projects,” “contemplates” or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based upon GeoPetro’s historical performance and on GeoPetro’s current plans, estimates, and expectations in light of information currently available to GeoPetro. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to GeoPetro’s operations, financial results, financial condition, business, prospects, growth strategy, and liquidity. Furthermore, GeoPetro is under no obligation to update or alter any of the forward-looking statements contained in this press release as a result of new information, future events or otherwise, unless required by law.
No regulatory authority has approved or disapproved of the information contained herein.
For further information please contact:
GeoPetro Resources Company
Stuart Doshi, President & CEO
Telephone: (415) 398-8186
E-Mail: sdoshi@geopetro.com