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GMX Resources Inc. Message Board

  • smart_biddr smart_biddr Mar 4, 2013 11:08 PM Flag

    who else added more today? i did.

    First & foremost: I am invested in GMXR to the end of no assets.
    Common shares are in the driver seat.
    The Insiders own it, Inst & MFunds own it and Retail owns it.
    Gmxr management has released only news that must be released nothing more, nothing less.
    Factually shareholders know only that they have cash for operations and that they are still seeking more funding to complete 2013 cap ex. We knew this back in Jan 2013 after the R/s was completed.
    The company is the common shareholder thick or thin.
    this company has delivered a completed turnaround product.
    We are a very small cap oil E&P company. that's it.
    a very, very small cap company with a huge 10 yr conservative potential.
    The market always overreacts :) try this perspective:
    if you look at gmxr by the last 2 weeks time frame it's horror......blood running in the streets!

    If you look at gmxr as a10yr investment with just 1 rig drilling! it's to the moon!.
    Debtors who will not accept common shares as payment then that is their undoing..... not Gmxr.

    GMXR management's mission is to protect & grow the equity of the company's (shareholders) assets!
    They must drill to do so. They are expected to partner, seek finance & innovate new ways of increasing
    stock holders asset equity... not share price.
    Traders want share price, short time frames, immediate and pivotal results to move share price.
    traders are in control for two weeks and look at the mess & opportunity to increase share holdings at lower cost for shareholders. I bought more today..thank you.
    The GMXR investment will not be over until there are no assets.
    Stock price will be what it is only until Assets valuation is properly accounted for.
    I hold for all or nothing on a 10 yr plan. I have no doubt Gmxr Management thinks the same way.
    there is no quitting for GMXR they could have done that years ago without the turnaround adventure.
    I look forward to seeing how Management innovates & resolves to ensure the 10yr drill plan

    Sentiment: Strong Buy

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    • You gotta be insane to own the common after that filing today.

      If you default on the notes, you can forget about any drilling plans or potential of the properties. Most likely the share price will collapse in the morning.

    • Wow..interesting post. I guess we are all wired differently. You may want to consult an electrician.

      Hey Steve...that trade of yours has been looking sweet. No more Kumbaya and relief that you are not part of this mess.

      Ken Kenworthy, a crony BOD and continuously horrid mistake after mistake = today's GMXR. There should be laws against such incompetence. That is one reason GSO will probably go thru BK, to cleanse this debacle of future litigation.

      Hey Milkman....where are you?. No comments.?

      • 3 Replies to wist2000
      • Wist,
        I am watching this craziness just like everyone else. What a crapshoot!! I stick by my previous comments that the assets are worth significantly more than the debt. That said again, there is clearly some high level attorney induced conferences taking place somewhere...I suspect, just as before, that the Kenworthy days are over and that BK is NOT in the cards. Why BK when there is NOTHING pressing on your cash commitments? You can wait until 2015 to BK if necessary, but I think the Wall Streeters are forcing a buyout. That is my best guess which means that I continue to load on the preferred (painful today) REMEMBER the preferred is about $50MM in face value debt (currently worth $15MM market value). The assets are well of $500MM even in a fire sale. Also, I am betting big on the preferred get of jail free card -- "Par value at a change of control" - I suspect that despite the price action, the preferred are simply a second thought in this deal. Which means that whether the value is $15 or $50 MM, the assets more than cover this (after all senior debt is paid). I would think seriously about anybody who is rolling the dice on this company to drop the common, and buy the preferred simply for the reason that you have a get out of jail free card and you are senior to the common and finally the price differential is now minimal. Plus the preferred is marginable for better risk/return. Like everyone, I am in the dark. I hope Tripp did not kill himself over accounting but even this would not drop the assets by $150MM needed to NOT cover the debts...

        Milky -- OUT

      • I finally stuck to my thesis and sold when it was broken when that horrid update came out a couple Fridays ago. If you saw my post with my reasons to hold vs sell, had I listened to the thesis sell in the first place I would sold with a small profit a year ago. Instead, deep lose. First and last time I break that rule.

      • so wist, have you ever ask yourself what lesson in life must you learn.. after being invested in Gmxr so much that even after you sell......... your still here?
        would karma reveal to you that to post insults towards others will never justify gaining inner peace with your own being, person and your feelings about your choices made in life. I wish only the best in journey to peace even with Gmxr which btw is yours to reconcile as well. peace be with you-

        Sentiment: Strong Buy

    • What are you talking about? It's over. How can you still believe in this thing? I may have been overly confident and zealous when I was long, but at least I wasn't dilutional. Come on. It's at .20 cents pre r/s for a reason.

      Sell already. These guys #$%$ us.

      • 1 Reply to stevegrogan04
      • it is not over...
        GMXR employees right at this momment are pulling a night shift on that 1 drilling rig pushing the bit as i type. I own that potential, that hard work & effort produces. It has value.
        ......the stock price is 2.56 a share for a very small cap E&P with 407M debt @ 6.13m shares. Nothing bad about that. not great either but it's still game on.
        what part of dilutional is oil being pumped out of the ground with every well drilled. no dusters yet.
        we are just begining to be ready to drill the serious anticlines from which the deepest part of the willston basin three forks is awaiting our drill bit. and you want to everyone to sell already....
        then do so and be glad that you did. Not all investments are safe.... this one is full on wildcat risk....
        live by the bit, drill by the bit.
        i have real in assets in the ground by the shares i hold.
        if others want that potential they need common shares to do so
        or make an offer to consolidate or reconcile the debt. one or the other.
        why is the stock price at 2.56 cents
        with a asset value of 630M -407M debt
        leaves 223m/6.13M=36.37 per share
        asset potential has increased year over year 2011 -2013 those are real assets.
        drill bit does not lie. money is in the ground
        E&P companys drilled 2,635 wells with an avg 8m per well cost spent over $21B in the bakken to drill wells just from 2010-2012.
        Now you expound loudly to sell all shares over a pathetic 400Mdebt?.
        Gmxr sits in the high pay zone anticlines (where the oil is) :)
        deep pockets want that bakken oil potential i am holding gmxr to have those assets.
        enjoy your investments-

        Sentiment: Strong Buy

    • I have to tell you my friend, that is a manifesto I may soon sign. can ya give me a few more days to understand this game?

      thanks for making me believe my hunch, even if it turns out wrong.


      Sentiment: Strong Buy

      • 1 Reply to thetransparentbarrel
      • -------------------------------------------------------------------------
        1. If Notes and Preferred are exchange for Common Stock;
        the defaults are taken care of in the 2018 & 2015 Notes.
        2. The Preferred will no longer exist.
        3. The NYSE Capitalization and Equity requirements are resolved.
        4. GMXR can get new BANK Credit facility to continue drilling.

        The 2015 Notes Holder do not want to push GMXR into bankruptcy because the 2015 Note Holders will most likely get very little.
        The 2018 Note Holders will do a lot better if all the Notes & Preferred are converted into common stock.

        Very Best of Luck.
        so 6.13 million shares +161mshares=167m shares
        $9.4 billion only bakken all paylayers 10yr plan/ 167mshares = $56.
        niobra? 10yr valuation, natgas 5-10 valuation outlook?
        these are the Assets trying to be stole.

        Still chance of JV E&P who wants 1/2 of $9.4billion 10 yr plan for a pathic 400million investment.

        This is not hard to see the potential.
        everything is in play until GMxr says it's not. exciting stuff. :)
        Enjoy your investments-

        Sentiment: Strong Buy