NEWS GeoBio Energy, Inc. Signs Definitive Agreements for the Acquisition of Two Companies in the Oil and Natural Gas Services Industr
SEATTLE, April 16, 2010
GLOBE NEWSWIRE
GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio") today announced that it has signed separate, definitive stock purchase agreements for the acquisitions of two companies in the oil and natural gas services industry: one, a civil construction company located in the Piceance Creek Basin of Colorado (the "Target Acquisition") and, the other, Farmington, New Mexico-based H&M Precision Products, Inc. ("H&M").
The Colorado Acquisition is a civil construction company that operates in the Piceance Creek Basin and primarily constructs (i) sites and platforms for drilling and reclamation of site locations following the oil and natural gas drilling phase and (ii) access roads to and from wells, reserve pits and production facility pads. Its construction services occur primarily during the site construction and site completion or restoration life cycles of natural gas fields and oil wells.
H&M provides and applies proprietary chemical blends used to maintain, clean, and improve the operating efficiency of natural gas and oil wells. It primarily focuses on maintaining and improving the output and efficiency in the drilling and production phases over the course of the "life" cycle of natural gas fields and oil wells.
The proposed acquisitions indicate 2009 pro-forma Gross Revenue of $20 million, with a combined EBITDA of approximately $7 million. GeoBio believes that upon completion of the proposed acquisitions and consolidation of these companies, GeoBio will be well positioned to provide natural gas and oil well operators of a wide spectrum of well site construction, drilling and production, and completion services.
L.G. Miyatovich, CEO of GeoBio, summarized, "We are pleased to have reached definitive agreements on the proposed acquisition of the Colorado Acquisition and H&M. GeoBio is currently forming its new management team, including experienced executives from the natural gas and oil industry, to facilitate the financing and completion of these acquisitions and implement our long term business and growth plan. We believe that the Colorado Acquisition and H&M provide the platform that will make GeoBio a broad spectrum, value added service provider in the oil and natural gas services industry."
GeoBio and its investment bankers, I-Bankers Securities, Inc., are currently working to secure financing of up to $20 million to complete the acquisitions of the Colorado Acquisition and H&M.
About GeoBio Energy:
GeoBio Energy's business model emphasizes the acquisition and operation of existing companies in the oil and gas services and energy industry. As oil well and gas exploration continue in the face of ever rising demand, preparing and monitoring drilling sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a principal challenge and an opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector.
Media Services by: www.Smallcap1.com & www.EquityDigest.com
Safe Harbor Statement
The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions of H&M and the Colorado Acquisition and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.
CONTACT: GeoBio Energy Corporation
Investor Relations
Joseph J. Malone
786-375-0556
GBOEinfo@smallcap1.com
www.SmallCap1.com
SEATTLE, April 16, 2010
GLOBE NEWSWIRE
GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio") today announced that it has signed separate, definitive stock purchase agreements for the acquisitions of two companies in the oil and natural gas services industry: one, a civil construction company located in the Piceance Creek Basin of Colorado (the "Target Acquisition") and, the other, Farmington, New Mexico-based H&M Precision Products, Inc. ("H&M").
The Colorado Acquisition is a civil construction company that operates in the Piceance Creek Basin and primarily constructs (i) sites and platforms for drilling and reclamation of site locations following the oil and natural gas drilling phase and (ii) access roads to and from wells, reserve pits and production facility pads. Its construction services occur primarily during the site construction and site completion or restoration life cycles of natural gas fields and oil wells.
H&M provides and applies proprietary chemical blends used to maintain, clean, and improve the operating efficiency of natural gas and oil wells. It primarily focuses on maintaining and improving the output and efficiency in the drilling and production phases over the course of the "life" cycle of natural gas fields and oil wells.
The proposed acquisitions indicate 2009 pro-forma Gross Revenue of $20 million, with a combined EBITDA of approximately $7 million. GeoBio believes that upon completion of the proposed acquisitions and consolidation of these companies, GeoBio will be well positioned to provide natural gas and oil well operators of a wide spectrum of well site construction, drilling and production, and completion services.
L.G. Miyatovich, CEO of GeoBio, summarized, "We are pleased to have reached definitive agreements on the proposed acquisition of the Colorado Acquisition and H&M. GeoBio is currently forming its new management team, including experienced executives from the natural gas and oil industry, to facilitate the financing and completion of these acquisitions and implement our long term business and growth plan. We believe that the Colorado Acquisition and H&M provide the platform that will make GeoBio a broad spectrum, value added service provider in the oil and natural gas services industry."
GeoBio and its investment bankers, I-Bankers Securities, Inc., are currently working to secure financing of up to $20 million to complete the acquisitions of the Colorado Acquisition and H&M.
About GeoBio Energy:
GeoBio Energy's business model emphasizes the acquisition and operation of existing companies in the oil and gas services and energy industry. As oil well and gas exploration continue in the face of ever rising demand, preparing and monitoring drilling sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a principal challenge and an opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector.
Media Services by: www.Smallcap1.com & www.EquityDigest.com
Safe Harbor Statement
The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions of H&M and the Colorado Acquisition and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.
CONTACT: GeoBio Energy Corporation
Investor Relations
Joseph J. Malone
786-375-0556
GBOEinfo@smallcap1.com
www.SmallCap1.com
wie im lotto alles ist möglich!
kaufe aktien die keiner mehr haben will
und am ende wird alles gut!
kaufe aktien die keiner mehr haben will
und am ende wird alles gut!
