ORONTO, ONTARIO -- (MARKET WIRE) -- 08/04/11 -- Geo Finance Corporation (PINK SHEETS: GEFI) is pleased to announce that its re-work of well Number 1 has been
successful. The Company has been informed by the well operator that in addition to producing oil, there has also been an initial production of gas from this well. The Company's operator is
monitoring the amount of gas produced and will arrange for the delivery and sale as it is warranted. "This is excellent news for our Company," stated John M. Arnold , CEO of GEFI. "As
anticipated we're into cash flow from our first well. Not only is the oil flowing, but we've got the added bonus of finding gas. At this rate we could recoup our entire investment before the
eighteen months we originally anticipated." The operator estimates well Number 1 to have a useful economic life of fifteen years. The operator further reports that the completion of the
second well on the Medlin Oil Lease is nearing completion. "This is a substantial
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