Strategic Stocks To Watch GEO FINANCE CORPORATION (OTC: GEFI)
Up 37.50% on Tuesday
Geo Finance Corporation is a Florida entity established to develop and invest in energy related projects including waste to energy, geothermal collection fields, natural gas and petroleum production. The administrative office is based in Toronto, ON, Canada.
GEFI News:
January 9 – Geo Finance Corp. (GEFI) Identifies Drill Targets and Retains Operator for Newest Leases in Texas
01-11-12 Strategic Stocks To Watch GEO FINANCE CORPORATION (OTC: GEFI)
Growing Oil Company Plans to Increase Production in Light of High Oil Prices
Geo Finance Corporation (OTC: GEFI) announces that the managing partner of the newly acquired Jackson A&D leases, Armurtex Oil Corporation (a private corporation) has retained GGP Exploration Ltd of Shreveport Louisiana to operate the 200 acre field located in Archer and Wichita Counties, Texas.
The Jackson A&D lease has 30 existing closed wells and one injection well currently located thereon. As announced on November 9th, 2012, Geo Finance Corporation entered into an option agreement with Armurtex Oil Corporation whereby Armurtex partnered with GEFI to acquire the property.
The operator has identified the initial wells for rework and has established a budget for the necessary work. All of the wells identified were shut in the late 1990′s with production, primarily due to low oil prices.
“Because of today’s price of oil, a lot of the wells that were shut in during times of low oil prices are profitable again. We’re in an excellent position to take advantage of higher oil prices and current technological improvements we’re employing on our current properties and on our acquisitions,” commented John Arnold, CEO of Geo Finance Corp.
The 200 acre site permits spacing that will allow additional wells to be drilled subject to receipt of permitting as required, satisfactory geological and engineering reports and subject to economically feasible cost and financing analysis.
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