GeoResources, Inc. Completes Bakken Shale Acquisition

Provides Drilling and Operations Update
HOUSTON--(Business Wire)--
GeoResources, Inc., (NASDAQ:GEOI), today announced an oil and gas property
acquisition in the prolific Bakken Shale trend of the Williston Basin and
provided an operations update.

On May 20, 2009, but effective April 1, 2009, the Company closed an acquisition
of producing wells and acreage in the Bakken Shale trend of the Williston Basin.
The acquisition was made through its existing joint venture with Slawson
Exploration Company. Other participants in the acquisition include Northern Oil
& Gas Inc. and Lario Oil & Gas Company. The Company acquired a 15% interest in
approximately 60,000 net acres, and also acquired 15% of varying working
interests in 59 producing and productive wells. The Company`s share of producing
and productive wells adds in excess of 300,000 BOE of proved producing reserves.
This reserve estimate excludes numerous proved undeveloped and probable
locations. Based on June estimates, the acquisition further adds daily net
production of about 180 Bopd. The Company`s net acquisition cost was
approximately $10.4 million, prior to adjustments for post effective date net
revenues. As a result of the acquisition, the Company now has working interests
in the area ranging from 10% to 15% in approximately 100,000 net acres. Of those
total acres, approximately 59,000 net acres are located in Mountrail County,
with the remainder located in adjacent North Dakota counties and in Richland
County, Montana. The joint venture is presently running one drilling rig and
plans to add two rigs in July and possibly a fourth drilling rig by the first
quarter of 2010. We currently expect to drill or participate in 45-50 wells over
the next 18 months, exclusive of interests resulting from nominal acreage
contributions to non-operated units. The Company expects to have an average net
working interest in the range of 7%. The acquisition was funded with cash and
borrowings from the Company`s Senior Secured Revolving Credit Facility.

Drilling and Operations:

To date, 16 operated joint venture wells have been drilled with a 100% success
rate. The Company has also participated in numerous additional non-operated
wells. The joint venture remains active and has continued to acquire attractive
acreage including the acquisition announced above. Recent drilling activity
includes the Nightcrawler 1-17H (4.7% WI) flowing at 700 Bopd, the Banshee 1-1H
well (5.5% WI) flowing at 450 Bopd and 450 Mcfpd, with production increasing as
the well cleans up and the Wombat 1-25H well (8.5% WI) which was completed in
early May with initial production tests of 800 Bopd. The Jericho 1-5H well (2.8%
WI) completed drilling operations in late February and is flowing up casing and
producing at 300 Bopd; production will likely increase by running production
tubing. Several other wells are awaiting fracture stimulation including the
Raptor 1-6H (10.0% WI), the Bandit 1-29H (7.5% WI), and the Colt 1-16H well
(9.1% WI). The Company is currently participating in the drilling of the Mamba
1-20H (9.3% WI) which spud May 9, 2009. Our drilling costs for Bakken Shale
wells located on 640 acre units have decreased significantly over the past year
due to reductions in service company costs, as well as improvements in drilling
and completion techniques. Recent single-lateral wells have been completed for
under $4.0 million which represents an approximate 25% reduction in completed
well costs since last year. The Company expects this project to allow it to
develop additional reserves at reasonable costs. Further, management believes
additional upside can be realized through efficient drilling and completion
techniques and in-filled drilling within existing spacing units, which has
occurred in similar fields located in Montana. Currently, our joint venture is
developing the acreage on 640 acre spacing units; however, our involvement with
other operators has also placed us under 1,280 acre units. When the initial
development phase is completed and more historical production information is
available, we expect that many parts of the field will justify incremental
in-fill drilling.

COMMENTS:

Frank A. Lodzinski, Chief Executive Officer of GeoResources, said, "This
acquisition allows the Company to increase its interest appreciably in a core
and exciting operating area. It adds immediate proved reserves and production
and significantly expands our drilling and development inventory. The Bakken
Shale is a premier oil play in the lower 48. Our drilling program has continued
to deliver positive results. We expect to continue to develop our assets and
selectively expand our acreage and drilling inventory."

About GeoResources, Inc.

GeoResources, Inc. is an independent oil and gas company engaged in the
acquisition and development of oil and gas reserves through an active and
diversified program which includes purchases of reserves, re-engineering, and
development and exploration activities, currently focused in the Southwest, Gulf
Coast and the Williston Basin. For more information, visit our website at
www.georesourcesinc.com.

Forward-Looking Statements

Information herein contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, which can be identified by
words such as "may," "will," "expect," "anticipate," "estimate" or "continue,"
or comparable words.All statements other than statements of historical facts
that address activities that the Company expects or anticipates will or may
occur in the future are forward-looking statements.Readers are encouraged to
read the SEC reports of the Company, our Annual Report on Form 10-K for the year
ended December 31, 2008, and any and all other documents filed with the SEC
regarding information about GeoResources for meaningful cautionary language in
respect of the forward-looking statements herein.Interested persons are able to
obtain free copies of filings containing information about GeoResources, without
charge, at the SEC`s Internet site (http://www.sec.gov).

GeoResources, Inc.
Cathy Kruse, 701-572-2020 ext. 113
cathyk@geoi.net

Copyright Business Wire 2009