GeoResources Provides an Operations Update

GeoResources, Inc., GEOI, today provided an operations update on its operating activities in its major project areas. In its operated Bakken Shale project area, GeoResources currently has approximately 25,000 net operated acres in northwest Williams County, North Dakota and 8,200 net operated acres in eastern Montana. The Company has two contracted drilling rigs running in this project area and recently contracted a third rig, which is currently being built and is scheduled to be delivered in the second quarter of 2012. Among other capabilities, the new rig will be able to “walk”, meaning the rig will be able to move easily and quickly from one location to the next when drilling on pad locations. In connection with pad drilling, the Company expects the walking rig to reduce the time between rig release and spud from 5 -7 days to 2 - 3 days resulting in lower drilling costs. GeoResources is currently experiencing well costs of approximately $7.5 – $8.0 million in this project area and expects the walking rig and other efforts to further reduce these costs.