UPDATE: Halcón Resources to Acquire GeoResources, for Value for GEOI Holders at $37.97/Share or $1.0B

Halcón Resources Corporation

and GeoResources, Inc.

today announced that they have entered into a definitive merger agreement in which GeoResources will merge into a wholly-owned subsidiary of Halcón Resources in a cash and stock transaction that values GeoResources at approximately $1.0 billion, based on the closing price of Halcón Resources common stock on April 24, 2012. Under the terms of the merger agreement, Halcón Resources will acquire all outstanding shares of GeoResources common stock. GeoResources stockholders will receive $20.00 in cash and 1.932 shares of Halcón Resources common stock for each share of GeoResources common stock they hold, representing consideration to GeoResources stockholders of $37.97 per share based on the closing price of Halcón Resources common stock on April 24, 2012. Halcón Resources Corporation will continue to be led by Floyd C. Wilson, Halcón Resources' Chairman, President and Chief Executive Officer and Mark J. Mize, Executive Vice President, Chief Financial Officer and Treasurer. Upon completion of the merger, the stockholders of GeoResources are expected to own approximately 18% of the combined company's outstanding shares on a fully diluted basis.