Filed pursuant to Rule 424(b)(3)
Registration Statement No. 333-131716
PROSPECTUS SUPPLEMENT NO. 7
to prospectus dated July 27, 2006, as amended on April 9, 2007
10,250,000 Shares
Common Stock
The following information supplements the prospectus dated July 27, 2006, as amended on April 9, 2007, relating to the offer and sale by the selling stockholders identified in the prospectus of up to 10,250,000 shares of our common stock. This prospectus supplement includes our Current Report on Form 8-K, which was filed with the U.S. Securities and Exchange Commission on June 1, 2007.
The information contained in such report is dated as of the date of such report. This prospectus supplement should be read in conjunction with the prospectus dated July 27, 2006, as amended on April 9, 2007, and prior prospectus supplements, which are to be delivered with this prospectus supplement. This prospectus supplement is qualified by reference to the prospectus except to the extent that the information in this prospectus supplement updates and supersedes the information contained in the prospectus dated July 27, 2006, as amended on April 9, 2007, including any supplements or amendments thereto.
Investing in the shares involves risks and uncertainties. See “Risk Factors” beginning on page 10 of the prospectus dated July 27, 2006, as amended on April 9, 2007, and the risk factors included in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2006.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is June 1, 2007.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 31, 2007
GEOMET, INC.
(Exact name of Registrant as specified in its charter)
| Delaware | 000-52155 | 76-0662382 | ||
| (State or other jurisdiction of incorporation or organization) |
Commission File Number |
(I.R.S. Employer Identification No.) |
909 Fannin, Suite 1850
Houston, Texas 77010
(Address of Registrant’s Principal Executive Offices)
(713) 659-3855
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On May 31, 2007, GeoMet, Inc. issued a press release announcing that it has received a notice of termination from Cardinal States Gathering Company (a wholly owned subsidiary of CNX Gas Corporation, “CNX”), dated May 30, 2007 that Cardinal States had elected to terminate an interruptible gas gathering agreement that provided alternative transportation for GeoMet’s gas production from the Pond Creek field in the Appalachian basin. The noticed termination date is June 30, 2007. Alternative transportation of this gas is available through GeoMet’s 12-mile gathering line, which connects gas sales volumes from the Pond Creek field to the Jewell Ridge lateral pipeline operated by East Tennessee Natural Gas. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is furnished as part of this Current Report on Form 8-K:
| Exhibit No. | Description | |
| 99.1 | Press release dated May 31, 2007. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| GeoMet, Inc. | ||||||
| Date: May 31, 2007 | By: | /s/ William C. Rankin | ||||
| William C. Rankin | ||||||
| Executive Vice President, Chief Financial Officer and Secretary | ||||||
INDEX TO EXHIBITS
| Exhibit No. | Description | |
| 99.1 | Press release dated May 31, 2007 | |
Exhibit 99.1
DRAFT— FOR DISCUSSION PURPOSES ONLY
GeoMet Announces Receipt of Notice of Termination of Gathering Agreement
Houston, Texas – (May 31, 2007 – GeoMet, Inc. (NASDAQ: GMET) announced today that it has received a notice of termination from Cardinal States Gathering Company (a wholly-owned subsidiary of CNX Gas Corporation, “CNX”), dated May 30, 2007 that Cardinal States had elected to terminate an interruptible gas gathering agreement that provided alternative transportation for GeoMet’s gas production from the Pond Creek field in the Appalachian basin. The noticed termination date is June 30, 2007. Alternative transportation of this gas is available through GeoMet’s 12-mile gathering line, which connects gas sales volumes from the Pond Creek field to the Jewell Ridge lateral pipeline operated by East Tennessee Natural Gas.
As previously announced, GeoMet’s 12-mile gathering line is subject to an interlocutory order that the Circuit Court of Buchanan County, Virginia issued on May 23, 2007, in which the Circuit Court ruled that CNX has the exclusive right to transport gas across a tract of land upon which a portion of GeoMet’s pipeline is located. The Circuit Court’s order is suspended pending GeoMet’s appeal. During the pendency of the appeal filed by GeoMet, GeoMet must comply with certain conditions which include the obligation to deposit into a trust account all net proceeds from any sales of gas transported over the property. In addition to appealing the Circuit Court’s order, GeoMet intends to vigorously pursue other legal remedies.
About GeoMet, Inc.
GeoMet, Inc. is an independent energy company engaged in the exploration for and development and production of natural gas from coal seams. 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 oil and gas and coalbed methane development rights, principally in Alabama, British Columbia, Colorado, Louisiana, Virginia, and West Virginia.
For more information please contact Stephen M. Smith at (713) 287-2251 or ssmith@geometcbm.com or visit our website at www.geometinc.com.
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. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are our estimate of the sufficiency of our existing capital sources, our ability to raise additional capital to fund cash requirements for future operations, the uncertainties involved in estimating quantities of proved oil and natural gas reserves, in prospect development and property acquisitions and in projecting future rates of production, the timing of development expenditures and drilling of wells, and the operating hazards attendant to the oil and gas business. In particular, careful consideration should be given to cautionary statements made in the various reports the GeoMet has filed with the Securities and Exchange Commission. GeoMet undertakes no duty to update or revise these forward-looking statements.