Geo Finance Corporation Announces Signing of Letter of Intent With McDermett Operating Co. and Sundial Resources Inc. to Acquire Participating Interest in Medlin Field Oil and Gas Property

TORONTO, ONTARIO -- (Marketwire) -- 08/17/10 -- Geo Finance Corporation, (a Florida Corporation) (PINK SHEETS: GEFI) of Toronto, Ontario, Canada announces the signing of a binding letter of intent with McDermett Operating Co. and Sundial Resources Inc. (private Texas corporations) of Graham, Texas, U.S.A. to acquire a 34% working interest in the Medlin Field, an estimated 500 acre stacked gas and oil sands owned by McDermett and Sundial in Young County, Texas, U.S.A. There are currently 2 shut in production wells and one injection well on the acreage.

GEFI will participate in the workover of the existing wells and the injection well potentially to produce from zones not produced from the original drilling.

GEFI has agreed to pay 104,000 U.S. plus 300,000 shares of its common stock as acquisition costs and estimated costs to complete the reworking of the wells.

GEFI will also earn a right of continued participation in the balance of any re-entry of wells in the Medlin Field or any new to be drilled wells in that field.

The parties anticipate completion of the acquisition no later than August 20, 2010.

About Geo Finance Corporation: Geo Finance Corporation is a Florida company established to develop and invest in energy related projects including waste to energy, geothermal collection fields, natural gas and petroleum production. Its administrative office is in Toronto, Canada.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

Statements in this document regarding the Transaction, the expected timetable for completing the Transaction, benefits and synergies of the Transaction, future opportunities for the company, expectations regarding the value and benefits of the Transaction and any other statements about Geo Finance Corporations managements future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: the ability of the parties to consummate the Transaction and satisfy the conditions thereunder; the ability to obtain, the impact of any actions taken by any other party to complicate, delay or prevent the Transaction and the ability to produce commercially viable quantities of gas on oil from the Medlin Field. Except as required by applicable law, Geo Finance Corporation disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.