updated 12/1/2010 9:46:10 AM ET 2010-12-01T14:46:10

SEATTLE, Dec. 1, 2010 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio"), today announces the extension of the previously announced acquisition agreement of a civil construction company operating in the Piceance Creek Basin of Colorado. The extension calls for closing 90 days after the civil construction company completes one of three new, and expectedly more profitable, master service agreements with major customers.

The civil construction company has a strong reputation in the Piceance Creek Basin and has strong customer relationships with substantial opportunity for growth. Additional growth through expanding the business to all the major operators in the basin as well as other emerging growth shale plays within the lower 48 states, will be a top priority. GeoBio expects that the stellar performance, quality and safety record of the civil construction company will be a significant competitive advantage for GeoBio's platform for growth, when coupled with other potential strategic acquisitions.

Separately, on December 1, 2010, GeoBio completes a recapitalization of its common stock. GeoBio believes this recapitalization is integral to its strategic growth and financing plans.

 "We see significant growth opportunities in the natural gas and oil services industry," said GeoBio's President & CEO, John Sams, "and we look forward to growing our business geographically, completing strategic acquisitions and implementing our overall growth strategy."

About GeoBio Energy:

GeoBio Energy's business model emphasizes the acquisition and operation of existing companies in the oil and gas services and energy industry. As oil and gas exploration continue in the face of ever rising demand, preparing and monitoring drilling sites and obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a significant growth opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector. Visit GeoBio's web site: http://www.geobioenergyinc.com/

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Safe Harbor Statement

This Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "intends," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.

"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions and other targeted companies and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate and effect the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.

CONTACT:  GeoBio Energy Corporation
          Investor Relations
          Joseph J. Malone

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