Dividends

Geopetro Resources Company has 7,523,000 Series B Convertible Preferred Stock outstanding which are entitled to receive 8% annual cash dividend on a quarterly basis.

The holders of our common stock shall be entitled to receive ratably such lawful dividends as may be declared by the Board of Directors. We have never paid any dividends, whether cash or property, on our common stock. For the foreseeable future it is anticipated that any earnings which may be generated from our operations will be used to finance our growth and that dividends will not be paid to common stockholders.