GMX RESOURCES INC's. Profile Published in the Standard & Poor's Daily News, Standard & Poor's Corporation Records

Apr 16, 2001, 01:00 ET from GMX RESOURCES INC.

    OKLAHOMA CITY, April 16 /PRNewswire/ -- Ken L. Kenworthy, Sr., Executive
 Vice President of GMX RE

SOURCES INC., (Nasdaq: GMXR; Warrants: GMXRW, GMXRZ) announced that the Company's description was published in today's edition of Standard & Poor's Daily News and that the Company's profile will appear in the next edition of Standard & Poor's Corporation Records. By having the description and profile published by S&P, GMX RE

SOURCES INC., has cleared the way for its securities to be eligible for trading in 40 states. The states in which the Company's securities will not be eligible for trading at this time are: Alabama, Kentucky, Louisiana, Montana, New Hampshire, South Dakota, Tennessee, Vermont, Virginia and Wisconsin. The Company's securities are eligible for trading in California only by "Qualified Investors". GMX RE

SOURCES INC., is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. GMX has production and properties in East Texas, Kansas, Southeast New Mexico, Oklahoma and Louisiana. The Company currently operates 131 of the 159 producing wells in which it owns interests and plans to drill between 20 and 30 proven undeveloped wells in 2001 with very high working interest. Currently, the Company has in inventory more than 150 additional drilling locations in East Texas, which we believe have potential in the Pettit, Travis Peak and Cotton Valley formations at depths of 6,000 to 10,000 feet. GMX is drilling proved undeveloped reserves, predominantly natural gas, as a part of its aggressive development of its East Texas properties. At this writing, GMX is nearing completion on the Annie Perry #1 well and is drilling the Sanders Moore #1 well in Harrison County Texas. Both wells will drill to the Pettit, Travis Peak and Cotton Valley formations and GMX owns a 100% working interest in each well. 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. GMX's goal is to continue to add value for its shareholders. 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 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 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 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. L.G. Zangani, LLC provides financial public relations service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company.

SOURCE GMX RE

SOURCES INC.
    OKLAHOMA CITY, April 16 /PRNewswire/ -- Ken L. Kenworthy, Sr., Executive
 Vice President of GMX RESOURCES INC., (Nasdaq:   GMXR; Warrants: GMXRW, GMXRZ)
 announced that the Company's description was published in today's edition of
 Standard & Poor's Daily News and that the Company's profile will appear in the
 next edition of Standard & Poor's Corporation Records.  By having the
 description and profile published by S&P, GMX RESOURCES INC., has cleared the
 way for its securities to be eligible for trading in 40 states.  The states in
 which the Company's securities will not be eligible for trading at this time
 are: Alabama, Kentucky, Louisiana, Montana, New Hampshire, South Dakota,
 Tennessee, Vermont, Virginia and Wisconsin.  The Company's securities are
 eligible for trading in California only by "Qualified Investors".
     GMX RESOURCES INC., is an independent oil and gas exploration and
 production company headquartered in Oklahoma City, Oklahoma.  GMX has
 production and properties in East Texas, Kansas, Southeast New Mexico,
 Oklahoma and Louisiana.  The Company currently operates 131 of the
 159 producing wells in which it owns interests and plans to drill between
 20 and 30 proven undeveloped wells in 2001 with very high working interest.
 Currently, the Company has in inventory more than 150 additional drilling
 locations in East Texas, which we believe have potential in the Pettit, Travis
 Peak and Cotton Valley formations at depths of 6,000 to 10,000 feet. GMX is
 drilling proved undeveloped reserves, predominantly natural gas, as a part of
 its aggressive development of its East Texas properties.  At this writing, GMX
 is nearing completion on the Annie Perry #1 well and is drilling the Sanders
 Moore #1 well in Harrison County Texas.  Both wells will drill to the Pettit,
 Travis Peak and Cotton Valley formations and GMX owns a 100% working interest
 in each well.  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. GMX's
 goal is to continue to add value for its shareholders.
 
     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 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
 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 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.
 
     L.G. Zangani, LLC provides financial public relations service to the
 Company, As such L.G. Zangani, LLC and/or its officers, agents and employees,
 receives remuneration for public relations and or other services in the form
 of moneys, capital stock in the Company, warrants or options to purchase
 capital in the Company.
 
 SOURCE  GMX RESOURCES INC.