GeoPetro Resources Company announced that it now owns 100% working interest in the Swan Hills Project, Central Alberta, Canada through its wholly owned subsidiary GeoPetro Canada Ltd. The successful acquisition of the remaining two-thirds (2/3) working interest from PetroBakken Energy Ltd. and Mosaic Energy Ltd. is in exchange for an overriding royalty interest, thus not requiring any upfront cash payment from GeoPetro. The Swan Hills Project covers 4,480 acres. The acreage is shot with high quality 3D seismic which has identified a large and attractive reefal complex with a potential for 50 million barrels of recoverable oil reserves or a potential for 250 billion cubic feet of recoverable natural gas reserves with significant associated oil. The project is located in the prolific Swan Hills area of Alberta and is in the general vicinity of major oil discoveries to the north (Judy Creek Field and Carson Creek Field) and major natural gas discoveries with significant associated oil to the south and to the west (Rosevear Field and Kaybob South Field). A well is planned for the fourth quarter of 2012 or first half of 2013, subject to permitting and other regulatory approvals, and securing a farmout partner.