SEATTLE, Feb. 26, 2013 -- GeoBio Energy, Inc., a Colorado corporation (OTCQB: GBOE) ("GeoBio"), announced today that its wholly-owned subsidiary El Gas North America, LLC, a Washington limited liability company ("El Gas NA") has placed its data reporting and volume conversion instruments for field trials with two of the nation's largest utilities. Both utilities are based in the northeast. The first utility has a market capitalization of approximately $11 Billion and the second utility has a market capitalization of approximately $370 Million. GeoBio expects the field trial phases to be completed by April 1, 2013. The opportunity to place its instruments with two significant utilities, combined with El Gas NA's technologically-advanced, valuable product line, helps to put GeoBio in an excellent position to expand the El Gas NA business and deploy multiple instruments in the oil and gas industry.
Mark Cangany , President of El Gas NA stated, "Placement of our maxiDATCOM, a data reporting device, and our miniELCOR, a gas electronic volume corrector device, in two national utilities is highly critical towards gaining industry acceptance and recognition of El Gas s.r.o.'s products." Mr. Cangany further explained, "We expect to commence product sales in the United States upon completion of the field trials with an estimated 100-300 product orders to be placed shortly thereafter." Larry Shelver, CEO of GeoBio commented, "This is a wonderful opportunity, which represents significant progress in launching sales of El Gas NA's data reporting and volume conversion products."
El Gas NA is a fully licensed and exclusive distributor of El Gas s.r.o's natural gas volume monitoring and correcting equipment and data recorder products in the territories including the United States, Canada, Mexico and the Caribbean Islands. El Gas NA's products include the (i) maxiDATCOM, a battery data reporting device with an integrated GSM/GPRS modem, (ii) miniELCOR, a battery powered gas electronic volume corrector and (iii) maxiELCOR, a battery powered gas electronic volume corrector with integrated GSM/GPRS modem. GeoBio anticipates that El Gas NA's products will enhance and add significant value to the oil and gas services industry, which is currently utilizing and relying on old, mechanical, circular reporters and instruments. El Gas NA offers integrated, robust and flexible technology, in which GeoBio expects will help improve market standards and contribute towards a more efficient and effective industry.
For more information regarding the El Gas NA product line, please contact firstname.lastname@example.org.
About GeoBio Energy, Inc.:
GeoBio Energy's business model emphasizes the development, acquisition and operation of existing companies in the oil and gas services and energy related products industry. As oil and gas exploration continues in the face of ever rising demand, facilitating delivery of oil and gas, monitoring and maintaining drilling sites to obtaining peak efficiency and production from existing, new and aging wells becomes increasingly important. GeoBio believes this to be a significant growth opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector. GeoBio's subsidiary, El Gas North America, LLC, has an exclusive license to sell Czech Republic based ELGas s.r.o.'s natural gas electronic volume corrector (EVC) and electronic data recorder (EDR) products in the United States, Canada, Mexico and the Caribbean, which products provide for the efficient monitoring and delivery of natural gas to consumers. For more information, please visit GeoBio's web site: www.geobioinc.com
Safe Harbor Statement
This Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "intends," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions and other targeted companies and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate and effect the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.
SOURCE GeoBio Energy, Inc.