GeoPetro Resources Company Announces Production Improvements at the Madisonville Field, East Texas

SAN FRANCISCO--(Business Wire)--
GeoPetro Resources Company ("GeoPetro", "we" or the "Company") (NYSE Amex: GPR)
today announced an update on operations at its Madisonville Field located in
East Texas.

We have reconfigured idle equipment and implemented operating efficiencies in
the Madisonville gas treatment plant (the "Plant") to reduce the inlet pressure
into the Plant and reduce the shrinkage that occurs during the processing of our
natural gas production. The Company`s wells are currently producing at a rate of
approximately 11 million cubic feet of natural gas per day ("Mmcfd"). The
Company`s wells flow to the Company`s Plant. Subject to capital availability, we
are planning to workover the Mitchell #1 well during 2009 to further enhance
production. Subsequent to the Mitchell #1 workover and subject to capital
availability, we plan to frac, and if successful, connect via a gathering line
the Wilson #1 well to the Plant.

Current production volumes are significantly higher compared to the first
quarter of 2009 due to lower inlet pressures at the Plant. The current average
inlet volume of approximately 11 Mmcfd into the plant is 67% higher than the
average experienced in the first quarter 2009 of 6.6 Mmcfd. In addition, the
average shrinkage rates have been reduced markedly. The higher shrinkage rates
experienced in the Plant during the previous quarter were largely attributable
to reduced plant maintenance performed by the previous owner. Shrinkage occurs
during gas processing in the Plant to remove impurities from the gas stream. A
certain amount of the natural gas is utilized to operate equipment within the
Plant. Subject to customary uncertainties regarding prices, reserves and
production variances, we expect improved operating results in the coming
periods.

Stuart J. Doshi, Chairman, President and Chief Executive Officer, commented, "we
are encouraged by the initial results of our production enhancements. The
increase in production resulting from lower inlet pressures, if sustained,
should result in improved cash flow from operations in the current and future
periods. Additionally, we continue to look at ways to manage our costs in this
challenging environment and are making significant progress in reducing
operating expenses associated with the Plant. We have made good progress toward
the stability of the company. We are positioning ourselves to succeed in
difficult times and laying the groundwork for further growth."

About GeoPetro

GeoPetro is an independent oil and natural gas company headquartered in San
Francisco, California. GeoPetro currently has projects in the United States,
Canada and Indonesia. GeoPetro has developed a producing property in its
Madisonville Project in Texas. Elsewhere, GeoPetro has assembled a
geographically diversified portfolio of exploratory and appraisal prospects.

Cautionary Statements

This news release contains forward-looking information. Statements contained in
this news release relating to future results, events and expectations are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements may involve known and unknown risks
involving market prices for natural gas and oil, economic and competitive
conditions, regulatory changes, estimates of proved and probable reserves,
production forecasts, geological and engineering uncertainties, potential
failure to achieve production from development drilling projects, capital
expenditures and other risks and uncertainties, which may cause the actual
results to be materially different from those expressed or implied by such
statements. Additional risk factors include, among others, those described in
the Company's Annual Report on Form 10-K on file with the U.S. Securities and
Exchange Commission. We do not have any intention or obligation to update
forward-looking statements included in this press release after the date of this
press release, except as required by law.

No stock exchange or regulatory authority has approved or disapproved of the
information contained herein.

GeoPetro Resources Company
Stuart J. Doshi, 415-398-8186
President & CEO
sdoshi@geopetro.com

Copyright Business Wire 2009