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Latest Press Release |
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July
17, 2008
GMX Resources Inc.
Announces Pricing of Common Stock Offering
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"Sabine Machine" |
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9400 N. Broadway, Suite 600 |
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Oklahoma City, OK 73114 |
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1-405-600-0711 (USA)
1-877-600-0711 (Toll Free) |
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GMXR is a 'Pure Play', E &
P company with 435 BCFE in proved reserves that are 94% natural gas; consisting of
294 gross / 163.9 net Cotton Valley ("CV") producers with
344 Haynesville /Bossier 80 acre horizontal locations and
1,500 gross / 930 net CV un-drilled locations; drilled at a
100% success rate. Eight drilling rigs are currently
developing this contiguous, multi-layer gas resource play on
the Sabine Uplift; Carthage, North Field, in Panola &
Harrison County of East Texas, where the Company has
invested $60 million in infrastructure; which has
contributed to 'Best In Class' finding and development
costs; which also contains 38 gross / 31 net Travis Peak/Hosston
Sands & Pettit producers on the property. These multiple
resource layers provide high probability, repeatable,
organic growth. The Company, headquartered in Oklahoma City,
Oklahoma, has interests in 351 gross / 207 net producing
wells and operates 74% of its reserves. The Company's
strategy is to grow shareholder value through acceleration
of development and acreage additions achieving operational
growth around its core area, converting its natural gas
reserves to proved, while maintaining balanced prudent
financial management. |
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Haynesville / Bossier Focus |
Strong Position Among Haynesville
Players |
Established Reserve Base - Strong
Production Growth |
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