GeoMet Announces Additional Natural Gas Hedges

GeoMet, Inc. GMET announced today that it has increased its natural gas hedges through the addition of swaps for the periods and at the prices listed below: Summer 2012 $2.89 3,210,000 Winter 2012 - 2013 $3.81 1,208,000 Summer 2013 $3.81 1,712,000 Winter 2013 - 2014 $3.81 1,208,000 All of the Company's current hedges are swap transactions. The Company estimates that approximately 73% of its projected sales volumes in 2012 are hedged at an average price of $4.99 per MMBtu, including approximately 82% of projected sales volumes during the period from April through October which are hedged at an average price of approximately $4.55 per MMBtu. For the year 2013, the Company estimates that it has hedged between 20% and 40% of projected sales volumes, depending on the month, at prices ranging from $3.81 and $4.95 per MMBtu. During the first two months of 2012, the Company received approximately $4.6 million in settlement payments from hedge counterparties.