GeoBio Completes Magna Energy Services Purchase
October 5, 2010
GeoBio Energy Inc., Seattle, (Pink Sheets: GBOE) has closed its acquisition of Aztec, N.M.-based Magna Energy Services for $3.2 million in stock.
Magna Energy, based in the San Juan Basin shale play area in New Mexico, is a chemical treatment and service company focused on increasing oil and gas production.
GeoBio believes the Magna chemical business, coupled with the other planned acquisitions and the proposed acquisition of a civil construction company operating in the Piceance Creek Basin shale play area of Colorado, provides a platform for growth in the oil ...
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