GeoMet, Inc. (GeoMet) is an independent energy company. The Company is primarily engaged in the exploration for and development and production of natural gas from coal seams (coalbed methane or CBM) and non-conventional shallow gas. Its principal operations and producing properties are located in the Cahaba Basin in Alabama, and the Central Appalachian Basin in West Virginia and Virginia. GeoMet also controls additional coalbed methane, and oil and gas development rights, principally in Alabama, British Columbia, Virginia, and West Virginia. During the year ended December 31, 2008, the Company controlled a total of approximately 213,000 net acres of coalbed methane and oil and gas development rights. The Company's proved natural gas reserves totaled approximately 320 billion cubic feet (Bcf) as of December 31, 2008.
I'm new to the board as well as the world of playing the stock market. I came across this stock reading another post and was curious. It seems like the company is making positive steps forward and with the stock so low at the moment, would be a fairly good buy...but what do I know! Thought I would ask some of the veteran traders on here for their opinion. Worth the risk?