Wednesday, July 18, 2012

"GMX RESOURCES INC. Announces Intent to Monetize a Portion of East Texas Liquids Rich Natural Gas Assets" ($GMXR)

GMX Resources announced

"that the Company has engaged Global Hunter Securities as financial advisor in connection with a proposed sale of a portion of the Company's Cotton Valley Sand liquids rich natural gas properties located in East Texas. The Company currently expects that sales of these properties would occur during the third quarter of 2012."
An asset sale would be one way to come up with cash needed for capex and for the bond maturity in February.

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