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OKLAHOMA CITY, Sept. 10, 2012 (GLOBE NEWSWIRE) --
GMX RESOURCES INC., (NYSE:GMXR); today announces that the Company will pay a regular quarterly dividend of $0.578125 per share on October 1, 2012 to holders of record as of September 20, 2012 on the 3,176,734 outstanding shares of its 9.25% Series B Cumulative Preferred Stock.
The Company's management team will be presenting at the Sixth Annual Global Opportunities Conference hosted by Imperial Capital. The 2012 conference will be held at the Waldorf Astoria Hotel September 19-20, 2012. A copy of our slide presentation will be available on Company's website before our scheduled presentation.
Details regarding the Company's participation in the conference are as follows:
Date & Time:
Thursday September 20, 2012 1:30 – 2:00 PM EDT
Michael J. Rohleder – President
James A. Merrill – Chief Financial Officer
Waldorf Astoria Hotel 301 Park Ave New York, NY
GMXR is a resource play rich E&P company. Oil shale resources are located in the Williston Basin, North Dakota & Montana targeting the Bakken Petroleum System and in the DJ Basin, Wyoming targeting the Niobrara Petroleum System; both plays are estimated 90% oil. Our natural gas resources are located in the East Texas Basin, in the Haynesville/Bossier gas shale and the Cotton Valley Sand Formation, where the majority of our acreage is contiguous, with infrastructure in place and substantially all held by production. We believe these oil and natural gas resource plays provide a substantial inventory of operated, high probability, repeatable, organic growth opportunities. The Company's multiple basin strategy provides flexibility to allocate capital to achieve the highest risk adjusted rate of return, with both oil and natural gas resources throughout our portfolio. Please visit www.gmxresources.com for more information on the Company.
The GMX RESOURCES INC. logo is available at
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.
CONTACT: FOR ADDITIONAL INFORMATION CONTACT
Alan Van Horn
Manager, Investor Relations
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