GMX Resources Lays Out Haynesville/Bossier Results

August 11, 2009 (FinancialWire) — GMX Resources Inc., (NASDAQ: GMXR) announced the completion of the Holt 1H (formerly the K5 1H) Haynesville / Bossier horizontal (H/B Hz) well with a 4,900 foot lateral and 12 fracture treatment stages and an initial 24 hour production rate of 9.3 million cubic feet per day (MMcfd) of gas, on a 25/64 choke and 4156 pounds of flowing casing pressure (FCP) into the sales line. The last six H/B Hz wells the company has completed have an average IP rate of 9.0 MMcfd, and the H/B Hz wells with lateral lines greater than 4000 feet have collectively averaged more than 5.4 MMcfd in the first 30 day period.

In addition to its first eight completed H/B Hz wells, the company has successfully drilled the TJT Simpson 1H H/B Hz well with a 4,750 foot lateral, which is scheduled for fracture treatment in late August 2009. The company’s Verhalen “B” 1H H/B Hz well is currently drilling and is expected to be completed in August 2009.

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