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GMXR
is a ‘Pure Play’, E & P company that has significant
Haynesville / Bossier Shale acreage in East Texas and North
Louisiana. The Company has 435 BCFE in proved reserves at
December 31, 2007 that are 94% natural gas and as of July 31,
2008, an internally estimated 3.2 TCFE in total 3P reserves
which includes 480 net undrilled Haynesville /Bossier 80 acre
horizontal locations, 163.9 net Cotton Valley ("CV")
producers; and 890 net CV un-drilled locations. Eight drilling
rigs are currently developing the Company’s contiguous,
multi-layer gas resource play on the Sabine Uplift; Carthage,
North Field, in Panola & Harrison County of East Texas, and
Caddo Parish of North Louisiana. The Company has invested $70
million in infrastructure which has contributed to very low
finding and development costs. The Company’s properties also
have 31 net Travis Peak/Hosston Sands & Pettit producers.
These multiple resource layers provide high probability and
repeatable, organic growth with 100% drilling success. The
Company, headquartered in Oklahoma City, Oklahoma, has
interests in 210 net producing wells and operates 77% of its
reserves. The Company’s strategy is to grow shareholder value
through acceleration of development, acreage additions that
achieve operational growth around its core area, and
converting its natural gas reserves to proved, while
maintaining a balanced and prudent approach to financial
management. |