Company:  GEO PETROLEUM INC
Form Type:  NT 10-K
Filing Date:  3/26/2003 
CIK:  0001016275 
Address:  2 APPALOOSA LANE 
City, State, Zip:  ROLLING HILLS, California 90274 
Telephone:  (310) 265-0721 
Fiscal Year:  12/31 
Description of Business
Geo Petroleum, Inc. is a California corporation formed in 1986 by Gerald T. Raydon, who, until December 15, 1999, was our chief executive officer and majority shareholder. We were originally organized to develop and operate oil and gas wells on leased properties and to take advantage of the "non-conventional fuels credit", which is a tax credit allowed under Section 29 of the Internal Revenue Code to producers of non-conventional fuels. Our oil and gas leases are operated pursuant to a 1987 pooling agreement by which the lessors jointly reserve an average royalty of 12% gross revenues. One 230 acre parcel is subject to a 12.5% royalty. We hold a 100% working interest and a related average 88% net revenue interest in these properties, subject to a 5% net profit interest retained by an individual. In 1998, we filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
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  FORM NT 10-K
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