Nebula Stocks LLC: Nebulastocks.com : Presents Exciting Picks That Make Astronomical Gains GeoBio Energy, Inc. (Pink Sheets:GBOE
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Today's hot alert includes GBOE.PK Press Release Source: GeoBio Energy, Inc.
On 6:30 am EST, Friday November 13, 2009 GeoBio Energy, Inc. Signs Letter of Intent to Acquire an Oil and Gas Wells Treatment and Servicing Company GeoBio Energy, Inc. (Pink Sheets:GBOE - News) ("GeoBio" or the "Company") today announced that the Company has signed a Letter of Intent (LOI) to acquire Farmington, New Mexico based H&M Precision Products, Inc. ("H&M"), an oil and natural gas services company.
Commencing operations in 1995, H&M sells proprietary chemical blends used to maintain, clean, and improve the operating efficiency of natural gas and oil wells. It also provides gas and oil well services, applying the chemical blends with proprietary treatment procedures to alleviate equipment problems and output shortfalls. Under the proposed acquisition, H&M would become a wholly-owned subsidiary of GeoBio, and H&M's core management and employees would remain employed with H&M.
L.G. Miyatovich, recently appointed CEO of GeoBio, commented, "H&M provides an exciting opportunity through which to enter the growing oil and gas services industry and to expand GeoBio's energy-related revenue opportunities. With its established revenue stream and profitability, we expect that GeoBio will be able to finance this acquisition, which will also serve as a foundation for additional expansion both through organic growth and future acquisitions."
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