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GMX Resources Inc. Message Board

  • tdrusso tdrusso Dec 5, 2012 5:37 PM Flag

    Q1 2013 Guidance Was Cut Today as Well!

    Just listening to the presentation - they are "expecting 90,000 barrels next quarter"!

    The previous guidance was for ~110,000!

    That's an 18% cut! And you had to listen to the presentation to hear about it!

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    • Tdruuse

      You may want to to do some more reading the missing oil was cotton valley oil the new est are for bakken oil only.

      Thanks for the question

      Joe

    • The proper dissemination of Information which would effect a company's perceived stated performance is duly regulated by Sec guidelines in regards to fair market participation in released material.
      the presentation is such a public avenue in which a company may correctly update guidance as events present themselves to effectively communicate to it's shareholders.
      You Bet a 110,000 boe would be great and on target!
      however ; this is the real world of wildcat investment, real people on the ground in desolate plains
      with scarce infrastructure and there is no one there to hold your hand if you can not handle the reality of a missed target.
      I for one am truly impressed that they are confident, and resilient in going forward by changing the drill technique to a well pad. This Investment is not for the timid.
      So if your not happy with the 90,000boe going forward perhaps selling would ease your pain.
      I believe greatness can come from the determination and resourcefulness of a small company with a good plan to fight for it's future value.

      Just one question for you though..
      Whom else do you have in mind to run this company? ....... don,t worry
      i did not think you have an answer....either.
      Enjoy your Investment always-

      Sentiment: Strong Buy

      • 3 Replies to smart_biddr
      • Whom else do you have in mind to run the company? ANYBODY but Ken Jr.. This "CEO" has a 5 year solid track record of value destruction and brain dead management decisions...ie. the latest stock giveaway of 20% of GMXR to receive a usurious loan. Go back in time and read their presentations year by year. Take a look at the 10-K's for the last five years. From the presentations just review the forward looking statements and production estimates. Look at how they have flip-flopped on management direction and goals..ie..they went full speed ahead in the H/B in the face of a collapsing nat gas market..contracted three rigs and had to puke up the leases subleasing them pennies on the dollar. This damned the torpedoes ideology was based on a huge hedging book protecting them on nat gas production thru 2012 with most at $6. What did they do...sold off the hedges, took away the "protection" after saying it was a foundation of the company and watched them rise in value after sale. GMXR was known in the H/B as a suicide player due to their management actions. Take a look at the amount of moneys borrowed over the last five years + asset sales...close to a billion $. Take a look at the total amount of common year-by-year. Compare forward looking statements with results. This company has been run by a CEO and crony BOD that have made shoot-from-the-hip decisions that they have continuously regretted. Why do you think the subordinated debt is selling at such a discount? One of the reasons is management... their past history, failed promises, hype and measly results. Two indicators of failed management would be...if Ken Jr. could get a $2+ million annual payday if he was let go from GMXR...No way..not even close. The other is if he left.. the stock would react positively. If they brought in a seasoned CEO from a competent oil/gas company, I think the stock would move 10%+. Don't forget, this was an $80+ stock with Kenny at the wheel. Check today's stock price and look at a five year chart. This asset rich company should have ousted Ken a long long time ago.

        Steve: The above...That is a rant...I agree with you that GMXR should dial back the rhetoric and just meet or exceed management projections. Wall Street likes that a lot more than failed promises Q by Q.

      • Smart-bidder

        Well said
        Onward we go.
        Joe
        Ps gmxr is well positioned to supply the new plant going in the east texas / La sasol nat gas to liquids 1 bcf/d my own opion.

      • Did you know that Q2 guidance had originally been for 80,000 barrels?

 

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