Virginia Supreme Court Vacates Temporary Injunction Affecting Completion of GeoMet's Pipeline in Virginia.HOUSTON -- GeoMet, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GMET GMET Graphical Munitions Effectiveness Table ) ("GeoMet" or the "Company") announced today that the Virginia Supreme Court has vacated a temporary injunction temporary injunction n. a court order prohibiting an action by a party to a lawsuit until there has been a trial or other court action. A temporary injunction differs from a "temporary restraining order" which is a short-term, stop-gap injunction issued pending a affecting completion of its pipeline interconnect from its Pond Creek Field to the Jewel Ridge Pipeline. As previously announced on January 19, 2007, the Circuit Court of Tazewell County, Virginia Tazewell County is a county located in the southwestern portion of the U.S. state — officially, "Commonwealth" — of Virginia. As of the 2000 census, the population was 44,598. It is part of the Bluefield WV-VA micropolitan area which has a population of 107,578. issued a temporary injunction which halted GeoMet's construction of a portion of the 12 mile pipeline it is constructing to interconnect the Company's production from its Pond Creek field to the Jewel Ridge interstate pipeline operated by East Tennessee East Tennessee is a name given to approximately the eastern third of the state of Tennessee. Unlike the names given to regions or portions of many of U.S. states, the term East Tennessee can be precisely defined. Natural Gas, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Following this action today by Virginia's highest court, CNX CNX Canceled CNX Certified Network Expert CNX Chiang Mai, Thailand - International (Airport Code) CNX CRISIL NSE (National Stock Exchange) Indices (India stock exchange) Gas Company, LLC ("CNX") may continue to pursue damages or a partition of the 32 acre property in dispute in the Tazewell court proceeding, but the Supreme Court's decision permits the Company to complete its pipeline through the disputed property. As a result of this ruling, GeoMet's pipeline interconnect to the new Jewell Ridge Pipeline is expected to be completed and fully operational in advance of the potential termination of the Company's existing gathering agreement with an affiliate of CNX on April 30, 2007. Production from the Pond Creek field accounts for approximately 60% of the Company's gas production. Currently, gas production from the field is being gathered under an agreement with Cardinal States Gathering Company, an affiliate of CNX, for redelivery into the Columbia Gas Transmission Columbia Gas Transmission is a natural gas pipeline that gathers gas in the Gulf of Mexico and brings it to New York. It is owned by NiSource. Its FERC code is 21.[1] External links
GeoMet will continue to vigorously pursue its rights in any continuation of this litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. by CNX and the Company will continue to vigorously prosecute the antitrust action it filed against CNX and others as announced yesterday. About GeoMet, Inc. GeoMet, Inc. is an independent energy company engaged in the exploration, development and production of natural gas from coal seams ("coalbed methane" 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 and Virginia. We also control additional coalbed methane development rights, principally in Alabama, British Columbia, 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" 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. |
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