OKLAHOMA CITY, March 5, 2010 (GLOBE NEWSWIRE) -- GMX Resources Inc. (NYSE:GMXR) will release its 2009 fourth quarter and annual financial and operational results after the close of trading on the New York Stock Exchange on Thursday, March 11, 2010.
The company has scheduled a conference call for Friday, March 12, 2010 at 10:00 a.m. CST (11:00 a.m. EST) to discuss fourth quarter and annual 2009 financial and operating results. To access the call, dial (877) 303-9132 or (408) 337-0136 before the call begins. Please reference Passcode 58696006. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until March 18, 2010. To access the replay, please dial (800) 642-1687 or (706) 645-9291 and reference passcode 58696006. The corporate presentation being used for this call is available before the scheduled call for download at http://www.gmxresources.com under the Events and Presentation tab.
GMX Resources Inc. is a 'Pure Play', E & P Company with one of the most leveraged Haynesville/Bossier (H/B) Horizontal Shale Operations in East Texas. The Company has 355 Bcfe in proved reserves (YE2009), 94% of which are natural gas. The Company's proved reserves are 81% operated and consist of 279 net "Capital Core" H/B Hz un-drilled locations; 14 gross /13.9 net H/B producers, and 324 gross / 186.9 net Cotton Valley Sand ("CVS") producers; 1,382 net CVS acre un-drilled locations; and 47 net Travis Peak / Hosston Sands & Pettit producers. These multiple resource layers provide high probability and the potential for repeatable, organic growth.
The GMX Resources Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5158
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. They include statements regarding the Company's financing plans and objectives, drilling plans and objectives, related exploration and development costs, number and location of planned wells, reserve estimates and values, statements regarding the quality of the Company's properties and potential reserve and production levels. These statements are based on certain assumptions and analysis made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes appropriate in the circumstances, including the assumption that there will be no material change in the operating environment for the company's properties. Such statements are subject to a number of risks, including but not limited to commodity price risks, drilling and production risks, risks relating to the Company's ability to obtain financing for its planned activities, risks related to weather and unforeseen events, governmental regulatory risks and other risks, many of which are beyond the control of the Company. Reference is made to the company's reports filed with the Securities and Exchange Commission for a more detailed disclosure of the risks. For all these reasons, actual results or developments may differ materially from those projected in the forward-looking statements.