GeoMet Further Reviews Pending CBM Asset Acquisition in Core Areas

GeoMet, Inc. GMET further reviews its pending coalbed methane asset acquisition and related new bank credit agreement. The effective date of the transaction will be July 1, 2011. All preferential purchase rights have now been waived and the Company expects to close the transaction later this month. The purchase price as of the Effective Date will be $90.2 million. The Company expects the adjusted purchase price at closing will be approximately $80 million and bank debt outstanding is expected to total approximately $160 million.