OKLAHOMA CITY, Feb. 16, 2011 (GLOBE NEWSWIRE) -- GMX RESOURCES INC., (NYSE:GMXR), today announces the Company's Vice President of Geosciences Mr. Timothy L. Benton will make a presentation at the Shale Gas Asia Conference at the Taj Palace Hotel in New Delhi, India on February 24, 2011 at 8:45 GMT. The Conference to be held February 23rd and 24th will explore the resource potential for Shale Gas in India, China and Indonesia providing a detailed geological analysis of the key basins. It will include government regulators from India, China and Indonesia who will be explaining the regulatory framework for supporting the commercialization of shale gas in Asia. Each national government will explain their planned fiscal policy and their strategy for investing in the production of shale gas. Governments will also announce their exploration strategy and how they intend to auction off the key shale gas blocks and provide details on the readiness of the pipeline, transport and service infrastructure and partnership opportunities.
Mr. Benton's presentation, "Getting to Grips with Existing and Emerging Shale Gas Technology; Evaluating Key Geological and Engineering Issues" will focus on understanding how to convert observations at all scales into reliable play characteristics, determining the hydrocarbon maturation in context with tectonic forces, understanding completion filters and realizing what hydraulic fracturing is telling you about the rock.
Joining Mr. Benton in presenting at the conference include: Chief Executive and Operating Officers from Caim India, Bharat Petroresources, Great Eastern Energy Corporation and Questerre Energy, Vice President of E&D Research from Sinopec, Executive Director from ONGC, Senior Vice President and OSD from Reliance Natural Resources Ltd, General Manager R&D Gujarat State Petroleum, Senior Vice President Geosciences EQT Corporation, Senior Manager of Petroleum Geosciences PT Medco E&P Indonesia, Geological Department IBT Bandung Indonesia, Deputy Assistant, International Energy Affairs U.S. Department of State, Geologist U.S. Geological Survey, Ministry of Land and Resources from China, India and Indonesia and many other distinguished experts from around the globe. Cairn Energy of India is the lead sponsor of the conference and GeoGraphix and Worley Parsons Resources and Energy are co-sponsors.
GMXR is a Resource Play Rich E&P Company with new 2011 development acreage in Two Oil Resources in the Williston Basin (North Dakota / Montana) and the DJ Basin (Wyoming), targeting the Bakken/Sanish-Three Forks and Niobrara Formations, respectively. Our Natural Gas Resource is the Haynesville/Bossier Formation in the East Texas Basin, in which the vast majority of our acreage is contiguous, and held by production. The Company believes multiple productive layers within these Oil and Natural Gas resources in the USA provide us with the flexibility to allocate capital across commodities and basins, and achieve the highest risk adjusted rate of return on our portfolio of resource plays. Further, the Oil and Natural Gas resources provide a robust inventory of high probability, repeatable, organic growth opportunities. The properties containing 81 & 262 net long lateral horizontal locations (on 1,280 & 640 acre units) in the Bakken and Niobrara respectively, and 261 net Haynesville/Bossier horizontal locations, and over 100 net Cotton Valley Sand horizontal locations; an 18 year inventory of development utilizing three continuous rigs. Visit www.gmxresources.com for more information on the Company.
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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.