SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K SB
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Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported)
December 31, 1996
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Geo Petroleum, Inc.
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(Exact name of registrant as specified in its charter)
California 0-20915 1546736
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
25660 Crenshaw Blvd., Suite 201 Torrance, CA 90505
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
310-539-8191
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(Former name or former address, if changed since last report.)
Geo Petroleum, Inc.
Item 5 Other Events
Geo Petroleum, Inc. completed financings totaling $12,640,000 on
December 31, 1996. The company obtained $2,640,000 of this total
from a private offering of 1,750,000 shares of common stock and
300,000 warrants. The warrants can be exercised over a period of
three years by purchasing common shares at $3.00 per share.
Saba Petroleum, Inc. a subsidiary of Saba Petroleum Company,
separately agreed to invest $10,000,000 to drill and develop some
of Geo's proven, undeveloped properties. Upon successful
completion of its commitment within two years, Saba will be
entitled to a two-thirds ownership interest in these properties.
Pursuant to the requirements of the Securities Exhange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Geo Petroleum, Inc.
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Registrant
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GERALD T. RAYDON
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GERALD T. RAYDON
(PRESIDENT)