Corporate Profile for GMX Resources Inc., dated March 1, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: March 1, 2002
Company Name: GMX Resources Inc.
Address: One Benham Place, Suite 600
9400 North Broadway Extension
Oklahoma City, Oklahoma 73114-7422
Main Telephone
Number: 405/600-0711
Internet Home
Page Address
(URL) www.gmxresources.com
Chief Executive
Officer: Ken L. Kenworthy, Jr.
Chief Financial
Officer: Ken L. Kenworthy, Sr.
Investor Relations
Contact: Michael A. Branch
Business number: 405/600-0711, ext. 27
E-mail address: mbranch@gmxresources.com
Public Relations
Contact: Michael A. Branch
Industry: Energy, oil and gas, exploration and production
Trading Symbol/
Exchange: Nasdaq:GMXR
Market Makers: various: Paulson, Basic, Thornwater, Herzog,
Meyerson, Knight Spear Leads Kellogg, others
Company description: GMX GMX Global Message Exchange Resources Inc. is an independent exploration and production company headquartered in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , Okla. GMX has production in the East Texas Basin, Kansas Kansas, state, United States Kansas (kăn`zəs), midwestern state occupying the center of the coterminous United States. It is bordered by Missouri (E), Oklahoma (S), Colorado (W), and Nebraska (N). , southeast New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Oklahoma Oklahoma (ōkləhō`mə), state in SW United States. It is bordered by Missouri and Arkansas (E); Texas, partially across the Red R. (S, W); New Mexico, across the narrow edge of the Oklahoma Panhandle (W); and Colorado and Kansas (N). and Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. . The Company has more than 400 drilling
locations in East Texas. The Company's strategy is to continue to
create additional value from its existing property base by drilling its
proven undeveloped natural gas reserves and to significantly add to its
reserve position through development, exploitation and acquisitions of
additional properties. For the year ended December 31, 2000, GMX had oil
and gas sales of $4.2 million. During 2001, the stock traded in a range
from $3.37 to $12.60 per share. The Company earned $.48 per share (net
per share basic with 1,899,793 basic shares outstanding) for the year
ended December 31, 2000. The Company's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. was successfully
completed on February 13, 2001.
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