1. Per North Dakota Web Site; GMXR is not drilling any new Wells since the Fairfield #2H was drilled.
2. The Rig (H & P 255) that GMXR has been using is not drilling anywhere.
3. GMXR has been drilling poorly in the Bakken or GMXR has poor leases; GMXR production from drilled Bakken Wells are very poor. With all the Cash used in drilling; their PV-10 Valuation in the Bakken is horrible.
GMXR should complete the Two Fairfield Wells and then dump their Leases and use the Cash elsewhere.
4. GMXR, by not updating its shareholders, leave the GMXR Common & Preferred at the traders whim to push the stock price down and then Up then down.
Gmxr's current share price nowhere reflects the real asset value of the company.
the current share price reflects only the market's speculation.... since no news has been released.
i think it would be responsible ....
to not incur additional debt while stating a remakover being done with Jefferies.
112 employees are busy as ever at work.
the results of management's determination
and resolve i expect will not fail or fall short of the turnaround story we have had to endured.
If many expect Gmxr to just roll over i think the many are going to be suprised of the outcome.
if this was just a slaughter we would not be grinding all the way , day by day to the 4th of april.
Enjoy your Investments-