GEOI reports

[setliff]

6:15AM GeoResources reports EPS in-line, beats on revs (GEOI) 25.83 : Reports Q1 (Mar) earnings of $0.29 per share, in-line with the Thomson Reuters consensus of $0.29; revenues rose 7.5% year/year to $28.6 mln vs the $28 mln consensus. With regard to co's outlook, co states: "Although we are still waiting on completion of our first two Eagle Ford wells, we continue to be encouraged by the potential of this play given the technical attributes of our acreage position and positive offset operator activity. We are also excited about the successful drilling of the exploration prospect at Quarantine Bay during the quarter. We believe this well should provide meaningful production in the second half of 2011."

[dan_s]

I will update my forecast model for GeoResources and get it posted to the website late today.