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GEORESOURCES ANNOUNCES RECENT PRODUCTION ACQUISITIONS AND SECOND QUARTER RESULTS

 GEORESOURCES ANNOUNCES RECENT PRODUCTION ACQUISITIONS
 AND SECOND QUARTER RESULTS
 WILLISTON, N.D., Aug. 14 /PRNewswire/ -- GeoResources, Inc. (NASDAQ: GEOI) a natural resources exploration and production company, today announced, that through July 1, 1992, the company has purchased interests in 7 gross (4.38 net) producing wells located in the Leonard and Newporte fields in North Dakota and the North Sioux Pass Field in Montana. These wells were acquired with $455,000 of borrowed funds obtained under the company's $750,000 line of credit with its bank. These acquisitions should add approximately 60 net barrels of oil equivalent a day to the company's production in the third quarter of 1992.
 Since July 1, 1992, the company also purchased interests in properties located in the Fryberg, Whiskey Joe, South Horse Creek, Snowcover, Hay Draw and Catwalk Fields, all in North Dakota. These purchases involve 10 gross wells (.9 net) and are effective either Aug. 1, or Sept. 1, 1992. These acquisitions should add about 25 net barrels of oil equivalent a day to the company's production in the fourth quarter.
 A spokesman for the company said the company will continue to evaluate acquisition opportunities in 1992 and may make further purchases.
 The company also reported second quarter 1992 revenue of $656,000 compared to $593,000 for the same period in 1991. Net income for the second quarter, 1992, was $57,100 or 1.4 cents per share, relatively unchanged from net income for the same period in 1991 of $60,500 or 1.5 cents per share. For the six months ended June 30, 1992 and 1991, the company's revenue was $1,067,000 and $1,249,000, respectively. Net income for the same periods were $22,000 or .5 cents per share and $121,000 or 3 cents per share, respectively. Six months 1992 earnings were lower compared to the six months ended June 30, 1991, due to lower first quarter 1992 oil prices.
 GeoResources, Inc.'s common stock is traded in the national over- the-counter market under the symbol GEOI.
 GEORESOURCES, INC.
 STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended Six Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Operating revenues:
 Oil and gas sales $482,071 $361,568 $772,663 $719,768
 Leonardite sales 173,974 231,893 294,506 529,141
 ? -- 656,045 593,461 1,067,169 1,248,909
 Operating costs and expenses:
 Oil and gas production 264,384 186,361 415,448 384,942
 Cost of leonardite sold 127,970 154,268 267,621 342,712
 Selling, general and
 administrative 32,479 32,542 68,240 84,096
 Depreciation and
 depletion 157,997 131,980 288,354 250,525
 -- 582,830 505,151 1,039,663 1,062,275
 Operating income 73,215 88,310 27,506 186,634
 Nonoperating income (expense):
 Interest income 4,024 9,253 6,945 17,211
 Interest expense (16,120) (26,273) (31,616) (55,852)
 Other income 9,080 5,216 22,238 5,216
 -- (3,016) (11,804) (2,433) (33,425)
 Income before income taxes 70,199 76,506 25,073 153,209
 Income tax (expense) (13,096) (16,000) (3,096) (32,000)
 Net income $57,103 $60,506 $21,977 $121,209
 Earnings per common share $.01 $.02 $.01 $.03
 Weighted average number
 of shares outstanding 3,961,714 3,961,714 3,961,714 3,961,714
 -0- 8/14/92
 /CONTACT: Cathy Kruse of GeoResources, 701-572-2020/
 (GEOI) CO: GeoResources, Inc. ST: Minnesota IN: MNG SU: ERN


DS -- MN009 -- 0039 08/14/92 13:16 EDT
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Date:Aug 14, 1992
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