SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
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Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported)
July 16, 1997
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Geo Petroleum, Inc.
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(Exact name of registrant as specified in its charter)
California 0-20915 33-0328958
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
501 Deep Valley Drive, Suite 300
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Rolling Hills Estates, CA 90274
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
310-265-0721
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(Former name or former address, if changed since last report.)
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Geo Petroleum, Inc.
Item 5 Other Events
GEO PETROLEUM, INC. (SYMBOL: GOPL) REPORTS RAPID EXPANSION OF
DISPOSAL SERVICES
Rolling Hills Estates, July 16, 1997: Geo Petroleum, Inc.
(Symbol: GOPL), an independent oil and gas development and
exploration company based in Rolling Hills Estates,
California, announced today that it expects its waste disposal
and environmental services business (Geo Disposal Services) to
expand rapidly to approximately $80,000 per month in revenues
by September 1997. This growth is a result of obtaining new
service contracts from several large oil companies and a gas
utility. Geo will use its high-capacity injection wells to
dispose of oil tank bottoms and wastewater generated by its
customers' oil and gas field operations.
The largest new contracts are with Chevron Corporation
(Symbol: CHV) subsidiaries Chevron USA Production Company and
Chevron USA Land and Development Company; Pacific Enterprises
(Symbol: PET) subsidiary Southern California Gas Company; and
Advanced Environmental, Inc. Geo also has new contracts with
several large independent oil and gas producers. Before
entering into contracts with Geo, each large company and
agency conducts intensive environmental audits of Geo's
facilities and employees' training. Geo has passed each of
the audits. Three new audits are now being conducted,
including one by the largest oil company in the United States.
Geo has also recently received government agency approval
of its facilities and methods of disposal. The California
Division of Oil, Gas, and Geothermal Resources (DOGGR), the
California Department of Fish and Game - OSPR, and the City of
Huntington Beach are now disposing of wastes at Geo's Oxnard
site.
Safe Harbor for Forward-Looking Statements: Except for
historical information contained herein, the statements in
this news release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private
Securities
Litigation Reform Act of 1995.
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Forward-looking statements involve known and unknown
risks and uncertainties which may cause the Company's actual
results in the future periods to differ materially from
forecasted results. These risks and uncertainties include,
among things, volatility of oil prices, product demand, market
competition, risk inherent in the Company's international
operations, imprecision of reserve estimates and the Company's
ability to replace and expand oil and gas reserves. These and
other risks are described in the Company's Annual Report on
Form 10KSB and other filings with the Securities and Exchange
Commission.
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
Geo Petroleum, Inc.
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Registrant
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GERALD T. RAYDON
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GERALD T. RAYDON
(PRESIDENT)
