OKLAHOMA CITY, May 1, 2009 (GLOBE NEWSWIRE) -- GMX Resources Inc. (Nasdaq:GMXR) (please visit www.gmxresources.com to view the latest corporate presentation) today announced the Q1 Earnings and Operational update call is scheduled for May 7, 2009 at 10:00 AM CDT (11:00 AM EDT). The participant dial-in number is 719-325-4754 or Toll free: 877-857-6161. A replay of this call will be available after 2:00 PM EDT on May 7th and can be accessed using the following number and passcode: 719-457-0820 or Toll free: 888-203-1112 Replay Passcode: 7429320. A presentation pertaining to this call will be available on the Company's website no later than 6:00 AM CDT, May 7, 2009.
GMXR is a 'Pure Play', E & P Company with one of the most leveraged Haynesville / Bossier Horizontal Shale Operations in East Texas. The Company has 465 Bcfe in proved reserves (YE2008) and over 4.4 TCFE in total potential reserves; 94% natural gas. The reserve potential is 81% operated and consists of 770 gross / 529 net Haynesville / Bossier 80 acre horizontal un-drilled locations; 3 gross / 3 net H/B producers, and 324 gross / 186.9 net Cotton Valley Sand ("CVS") producers; 2,657 gross / 1,974 net CVS un-drilled locations; and 45 gross / 37.5 net Travis Peak / Hosston Sands & Pettit producers. These multiple resource layers provide high probability and 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.