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GeoMet Announces Financial and Operating Results for the Quarter and Nine Months Ended September 30, 2015

Houston, Texas— November 2, 2015—GeoMet, Inc. (OTC: GMET; OTC: GMETP) (“GeoMet” or the “Company”) today announced its financial and operating results for the quarter and nine months ended September 30, 2015.

Financial and Operating Results
On May 12, 2014, GeoMet closed the sale of substantially all of its remaining assets (the “Asset Sale”). As a result of the Asset Sale, all operating activities are presented as discontinued operations in the Condensed Consolidated Statements of Operations (Unaudited) for each of the quarter and nine month periods ended September 30, 2015 and 2014.

As of September 30, 2015, our primary asset as a public “shell company” is cash in the amount of approximately $18.6 million. On a go forward basis, we will continue to incur general and administrative expenses necessary to sustain a public registrant and professional fees while assessing strategic opportunities.

Quarter Ended September 30, 2015
For the quarter ended September 30, 2015, GeoMet reported a net loss available to common stockholders of $3.8 million, or $0.09 per fully diluted common share. Included in net loss available to common stockholders for the quarter ended September 30, 2015 was a cash dividend paid on preferred stock of approximately $1.7 million and a non-cash charge of $1.1 million for accretion of preferred stock.

For the quarter ended September 30, 2014, GeoMet reported a net loss available to common stockholders of $2.0 million, or $0.05 per fully diluted common share. Included in net loss available to common stockholders for the quarter ended September 30, 2014 were non-cash charges of $0.8 million for accretion of preferred stock and $0.6 million for paid-in-kind (“PIK”) dividends paid on preferred stock.

For the quarter ended September 30, 2015, GeoMet reported no income from discontinued operations.

For the quarter ended September 30, 2014, GeoMet reported income from discontinued operations of $0.6 million, including a tax benefit of $0.03 million, or $0.02 per fully diluted common share.

Nine months Ended September 30, 2015

For the nine months ended September 30, 2015, GeoMet reported a net loss available to common stockholders of $8.2 million, or $0.20 per fully diluted common share. Included in net loss available to common stockholders for the nine months ended September 30, 2015 were a cash dividend paid on preferred stock of approximately $1.7 million and non-cash charges of $3.0 million for accretion of preferred stock and $1.1 million for PIK dividends paid on preferred stock.

For the nine months ended September 30, 2014, GeoMet reported net income available to common stockholders of $55.3 million, or $1.36 per fully diluted common share. Included in net income available to common stockholders for the nine months ended September 30, 2014 were non-cash charges of $2.1 million for accretion of preferred stock and $1.8 million for PIK dividends paid on preferred stock.

For the nine months ended September 30, 2015, GeoMet reported no income from discontinued operations.

For the nine months ended September 30, 2014, GeoMet reported income from discontinued operations of $62.9 million, net of tax of $0.7 million, or $1.55 per fully diluted common share. Included in income from discontinued operations was a $62.4 million gain resulting from the Asset Sale.

Third Quarter 2015 Financial and Operating Statements

Forward-Looking Statements Notice
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical facts, all statements included in the document, including those preceded by, followed by or that otherwise include the words “believe,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “target,” “goal,” “plans,” “objective,” “should” or similar expressions or variations on such words, are forward-looking statements. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. In particular, careful consideration should be given to cautionary statements made in the various reports the Company has filed with the Securities and Exchange Commission (“SEC”). Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company’s SEC filings, which may be obtained by contacting the Company or the SEC. These filings are also available through the Company’s web site at http://www.geometinc.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. GeoMet undertakes no duty to update or revise these forward-looking statements.

For more information please contact William A. Wiederkehr, Jr., Treasurer and Secretary, at (713) 600-4310 or wwiederkehr@geometcbm.com.