SEATTLE, Feb. 11, 2010 (GLOBE NEWSWIRE) -- GeoBio Energy, Inc. (Pink Sheets:GBOE) ("GeoBio") announces the appointments of Paul Spencer as Chief Financial Officer and Chris Wain as Chief Operating Officer of the Company. Mr. Spencer and Mr. Wain have worked together for several years in business development and financial consulting for early stage companies, intend on bringing GeoBio current in financial reporting requirements, consolidate the books and records of GeoBio's proposed oil and natural gas services industry acquisitions, assist the completion of such acquisitions and develop financial projections and valuations for the combined entities.
Paul Spencer, CPA, is a founding partner of TanOak, LLC, a Seattle, WA-based business development firm. Mr. Spencer spent five years as an office managing partner for BDO Seidman, an accounting tax and consulting firm working with a wide range of clients including Eddie Bauer, Red Lion Hotels, Monterey Gourmet Foods, Intelius, Metro One Communications and Intelepeer. Prior to BDO, Paul was with Ernst & Young, serving numerous clients including SAFECO insurance, ING Sharebuilder, Coca-Cola, Singapore Airlines, MayBank, Genentech, Invesco and Transnefigas.
Chris Wain, a founding partner of TanOak, brings a 25 year career in engineering, operations, finance, technology integration and R&D, fulfilling C class and senior management roles with global leaders such as British Aerospace, British Petroleum, Bombardier, Ciba Geigy and PTI. Chris has successfully led enterprises in both the USA and Europe contributing clear vision, strong methodical problem solving skills and motivating multi cultural, multi disciplined teams in challenging circumstances.
L.G. Miyatovich, CEO of GeoBio, commented, "With Chris Wain and Paul Spencer coming aboard our team, in conjunction with Goodrich Capital's respected capital raising abilities, GeoBio is well equipped to successfully complete its proposed acquisitions and fully develop its business model in the natural gas and oil industry."
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 well and gas exploration continue in the face of ever rising demand, obtaining peak efficiency and production from existing, aging wells becomes increasingly important. GeoBio believes this to be a principal challenge and an opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector. The company is working to develop more efficient and alternative methods for handling existing resources in this sector in order to realize greater efficiencies and provide efficient, green technology services, where and when available.
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