Will Economics Reshuffle the Line Up of Haynesville Shale Players?

GMXR Announces Receipt of Shareholder Letter
Tue. March 10, 2009; Posted: 07:15 PM
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OKLAHOMA CITY, Mar 10, 2009 (GlobeNewswire via COMTEX) -- GMXR | Quote | Chart | News | PowerRating -- GMXR (Nasdaq:GMXR) (please visit www.gmxresources.com to view the latest corporate presentation) announced today that it has received a letter from Peter Seldin, on behalf of Centennial Energy Partners, L.L.C., the Company's largest single shareholder, in which Mr. Seldin requested that the Company's board of directors begin to evaluate strategic options for the Company. The Company's board of directors will consider Mr. Seldin's request and respond in due course. However, in the meantime, the Company continues to operate its business in the ordinary course and believes that its current business plan reflects a balanced and prudent approach in light of currently prevailing economic conditions.

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Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 12:46
Oh, so that was it. I caught just a little about Kramer being mad at Stewart but didn't understand what it was about. I guess Jon hit a little too close to home. Lightning Round and all. HA! Kramer is lucky he's still got a job. Considering that we all need an occasional laugh these days, I think Stewart's is safe.
Permalink Reply by sesport on March 11, 2009 at 12:53
I heard it on one of the national stations (CBS, I think). They're all getting a big kick out of it. You may be able to locate it on one of the majors websites. :0) It's good for a laugh.
Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 6:59
The financial report that I saw in the hours immediately after the announcement changed GMXR from a buy to a neutral rating. I don't normally pay much attention to the on-line financial articles on the operators. I guess I will have to start looking a little more closely.
Permalink Reply by sesport on March 11, 2009 at 12:06
I use such articles to take the "temperature" of the players/companies. It's a starting point, gives a heads up as to whether I need to start digging for more info. Things that make you go "hmmmm ?" Sometimes it's nothing, but patterns usually indicate it's something.

I'll keep watching with ya' - sesport :0)

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