GeoResources, Inc. Reports Proved Reserves

HOUSTON--(BUSINESS WIRE)--GeoResources, Inc., (NASDAQ: GEOI), today announced its proved reserves of crude oil and natural gas as of January 1, 2011. Based on the prescribed Securities and Exchange Commission (“SEC”) rules, proved reserves were estimated at 24.0 million barrels of oil equivalent (“Mmboe”), being 60% oil and 74% proved developed. The Company produced 1,060,000 barrels of oil and 4,789 Mmcf of gas or approximately 1,858,000 barrels of oil equivalent for a production growth of 11% for calendar year 2010 versus 2009. Overall our production replacement rate was 280%. After production, on a net basis, our proved reserves increased 3.3 Mmboe for an overall growth rate of 16%, from January 1, 2010 to January 1, 2011. Oil reserves increased 26% and gas reserves increased 4%, both net of production. The GeoResources proved reserves as of January 1, 2011 were prepared by the independent reservoir engineering firm of Cawley, Gillespie & Associates, Inc. in accordance with SEC guidelines.