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GMX Resources Inc. Message Board

  • jeffjwang jeffjwang May 10, 2011 12:33 AM Flag

    Quite positive

    better than Q4 last year. The stock didn't drop afer Q4 earning report in March. Plus we are 3 months closer to be cash positive in early 2013, so why we will drop tomorrow?

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    • LATEST KEY DEVELOPMENTS
      GMX Resources Reaffirms Q2, FY 2011 Production Guidance
      Monday, 9 May 2011 11:59pm EDT
      GMX Resources announced that its second quarter and fiscal 2011 production guidance is 6.1 Bcfe and a range of 25-26 Bcfe, respectively.

      • 1 Reply to prenzie
      • My thoughts....

        Sounds like Bakkan and Niobara will drill a little earlier than previously forecasted.

        Cash flow of $16.5 million a little less than I hoped for, was hoping for $20 mil area. Equals about 29 cents per share based on 55.7 mil shares outstanding (don't be misled by the "average" shares outstanding).

        Debt now at $340 mil, about as expected. Nothing due short term, that is good.

        Nice hedges in place for the rest of '11 and all of '12, and even some of '13. Looks like '11 and '12 about 65-70% hedged.

        Cash of $77 mil earmarked for DRILL DRILL DRILL!!!!!!

        My thoughts....yours are welcome....

        Kel

    • After looking through results closer, I don't disagree with you. The one piece that I think could hurt is Revenue. Non Gaap revenue was $29 million, about $4 million below consensus. Granted, that average estimate is certainly skewed by the analyst that also predicted EPS of $.25. Either way, the progress in controlling expenses is very impressive, as is their production. Have to say, I can't wait to see market reaction tomorrow, as I really have no clue which way it will go. Suspect pre market will be down. Only question is how quickly does that change after the call starts.

 

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