GeoResources Inc., Houston, (Nasdaq: GEOI) reports two wells have been completed in its Austin Chalk acreage in Texas in the first quarter.

The wells, part of its horizontal drilling program in Giddings Field in Grimes County have resulted in a 100% success rate since initiation of the program in February 2007. The East Richards #1-H was completed in March as a single lateral and has averaged 9.7 million cubic feet of gas per day during the first 30 days of production. The Keisler #1-H, which was completed in January, has current production of more than 11 million cubic feet of gas per day.

GeoResources is currently drilling Jeff Haynie #1-H as a dual lateral, which is expected to be completed during May.

In south Louisiana, the company recently completed two shallow exploration wells in Lafourche Parish. The Davaine and Parr wells are in Raceland Field and have averaged combined production of 97 barrels of oil and 450,000 cubic feet of gas per day. Two additional prospects are expected to be drilled during the summer. GeoResources has a 10% working interest in the wells.

GeoResources has completed drilling a shallow multi-lateral horizontal oil well in its Wayne Field in Bottineau County, North Dakota. The Oscar Fossum H5 is currently being completed and has tested oil rates exceeding 200 barrels per day. Initial production is expected in May. Production equipment and facilities are presently being installed. The Company has a 67% working interest in this well.

 The drilling rig was moved to the Ballantyne-State/Steinhaus H2 and is presently drilling the first of two planned laterals. The company has a 100% working interest in the well, which should be completed in May and placed on production in the second quarter.