GeoPetro Resources Co. - 2011-03-24

GeoPetro's wholly owned subsidiary Madisonville Midstream LLC has entered an amendment with Bank of Oklahoma NA whereby the maturity date on its term loan has been extended by one year, from December 31, 2011 to December 31, 2012.

The term loan, which had an initial principal balance of approximately $7.7 million, has been paid down by Madisonville Midstream to its current principal balance of approximately $4.6 million. In addition to the above extension with Bank of Oklahoma, the company has also successfully negotiated the extension of certain promissory notes with private parties totaling approximately $1.5 million by one year, with maturity dates extending into 2012 and 2013.