GeoMet Wins Pipeline Dispute in Virginia Supreme Court Rulingadmin
GeoMet, Inc. announced that the Virginia Supreme Court unanimously ruled in its favor in the pipeline right of way dispute between the Company and CNX Gas Company LLC . The opinion issued this morning reversed the interlocutory order issued May 23, 2007 by the Circuit Court of Buchanan County, Virginia and held that a lease between CNX and Pocahontas Mining Limited Liability Company did not grant CNX an exclusive right to transport gas across PMC’s property.
Commenting on today’s decision, Darby Seré, GeoMet’s Chairman, President and Chief Executive Officer stated, “We are obviously very pleased with the ruling by the Virginia Supreme Court. The most significant result of this ruling is that our pipeline right-of-way granted by PMC is valid. We can now focus our complete attention on growing our production, reserves and cash flow. With this litigation risk behind us, we expect to increase our capital spending in 2009 to the highest level since 2006.”
GeoMet, Inc. is an independent energy company primarily engaged in the exploration for and development and production of natural gas from coal seams (“coalbed methane”) and non-conventional shallow gas. Our principal operations and producing properties are located in the Cahaba Basin in Alabama and the Central Appalachian Basin in West Virginia and Virginia. We also control additional coalbed methane and oil and gas development rights, principally in Alabama, British Columbia, Virginia, and West Virginia.
For more information please contact Stephen M. Smith at (713) 287-2251 or firstname.lastname@example.org or visit our website at www.geometinc.com.