Glossary of Terms

In this report, unless the context otherwise requires, the following terms shall have the indicated meanings. A reference to an agreement means the agreement as it may be amended, supplemented or restated from time to time.

A-E F-I J-N O-S T-Z Abbreviations & Conversions

F

"Fannin Well" means the Angela Farris Fannin No. 1 well located at the Madisonville Field.

"Farmout" means an agreement whereby a third party agrees to pay for the drilling of a well on one or more of GeoPetro's properties in order to earn an interest therein with GeoPetro retaining a residual interest in such properties.

"Flow Through Share" means a share of common stock issued as a "flow through share" within the meaning of Canadian tax law.

G

"Gateway" means Gateway Processing Company, a Texas corporation that has constructed pipeline facilities at the Madisonville Field.

"GeoPetro" or "Company" means GeoPetro Resources Company, a corporation incorporated under the laws of the State of California and its wholly owned subsidiaries.

"GeoPetro Alaska" means GeoPetro Alaska LLC, an Alaska limited liability company, which is a wholly owned subsidiary of GeoPetro.

"GeoPetro Canada" means GeoPetro Canada Ltd., an Alberta corporation, which is a wholly owned subsidiary of GeoPetro.

H

"Hanover" means Hanover Compression Limited Partnership, a Delaware limited partnership that has constructed and previously operated treatment facilities at the Madisonville Field.

"Hanover Agreement" means, collectively, the First Amended and Restated Master Agreement, dated as of September 12, 2002 among Redwood, Hanover and Gateway, as amended, providing for the processing of natural gas from the Madisonville Field, and the agreements related thereto, which agreements were in effect prior to August 2005.