GeoMet, Inc. Executives Adopt 10b5-1 Trading Plans.HOUSTON -- GeoMet, Inc. (Nasdaq:GMET GMET Graphical Munitions Effectiveness Table ) today announced that William C. Rankin, Executive Vice President and Chief Financial Officer, personally and, separately on behalf of a family limited partnership as to which he exercises dispositive dis·pos·i·tive adj. Relating to or having an effect on disposition or settlement, especially of a legal case or will. authority, has adopted prearranged pre·ar·range tr.v. pre·ar·ranged, pre·ar·rang·ing, pre·ar·rang·es To arrange in advance. pre stock trading plans to sell a portion of shares of GeoMet common stock held by each. Mr. Rankin adopted his personal plan to sell up to 100,000 shares of GeoMet common stock in order to diversify his holdings and to provide liquidity to construct a home and to exercise nonqualified stock options. Sales of up to 72,000 shares of GeoMet by Mr. Rankin's family limited partnership will be used to provide liquidity for distributions from the family limited partnership to fund obligations of certain trusts established for estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the purposes. Sales under both stock trading plans will not commence prior to February 1, 2007 and may continue until October 31, 2007. Each of the 10b5-1 stock trading plans was adopted in accordance with the guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and GeoMet's policies regarding stock transactions by insiders. Rule 10b5-1 allows officers and directors of public companies to adopt written prearranged stock trading plans when they are not in possession of material, non-public information. Plans adopted in accordance with the Rule avoid concerns about initiating stock transactions while an insider may be in possession of material non-public information. Once a Rule 10b5-1 trading plan is established, the insider retains no discretion over sales under the plan, and the prearranged trades can be executed through a broker at later dates without regard to any subsequent material non-public information that the insider may receive. The transactions under each of these Rule 10b5-1 trading plans will be publicly disclosed through Form 4 filings with the U.S. Securities and Exchange Commission. About GeoMet, Inc. GeoMet, Inc. is an independent energy company engaged in the exploration for and development and production of natural gas from coal seams Noun 1. coal seam - a seam of coal seam, bed - a stratum of ore or coal thick enough to be mined with profit; "he worked in the coal beds" coalface - the part of a coal seam that is being cut ("coalbed methane Coalbed methane is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, and other countries. " or "CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter "). Our principal operations and producing properties are located in the Cahaba Basin in Alabama and the Central Appalachian Basin in West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. and Virginia. We also control additional coalbed methane development rights, principally in Alabama, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Colorado, Louisiana, Virginia, and West Virginia. For more information please contact Stephen M. Smith at 713-287-2251 or ssmith@geometcbm.com or visit our website at www.geometinc.com. Forward Looking Statements Notice This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are our estimate of the sufficiency of our existing capital sources, our ability to raise additional capital to fund cash requirements for future operations, the uncertainties involved in estimating quantities of proved oil and natural gas reserves, in prospect development and property acquisitions and in projecting future rates of production, the timing of development expenditures and drilling of wells, and the operating hazards attendant to the oil and gas business. In particular, careful consideration should be given to cautionary statements made in the various reports the Company has filed with the Securities and Exchange Commission. GeoMet undertakes no duty to update or revise these forward looking statements. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion