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GMX RESOURCES INC. Announces Class A Warrant Expiration at 5 PM Central Time on February 13, 2006

Posted on: Thursday, 9 February 2006, 12:00 CST

OKLAHOMA CITY, Feb. 9 /PRNewswire-FirstCall/ -- GMX RESOURCES INC., (Nasdaq: GMXR; warrants: 'GMXRW'). GMXR announced today that its Class A Warrants to acquire common stock at $12 per share will expire at, and will not be exercisable after, 5 p.m. Central time on February 13, 2006 ("Expiration Time"). The Company has no plans to extend the Expiration Time. Instructions for exercising the warrants may be found at the Company's website http://www.gmxresources.com/ . In addition, the Company and the Warrant Agent, UMB Bank, n.a. have instituted a broker protection plan which will permit trading in the warrants to occur until the Expiration Time with normal three day settlements. Brokers holding warrants on behalf of customers without physical certificates may exercise through the DTC system.

Brokers holding physical warrant certificates on behalf of customers may exercise the warrants by delivering to the Warrant Agent a "notice of guaranteed delivery" prior to the Expiration Time so long as the exercise price and warrant certificates are received by the Warrant Agent on or before the Expiration Time. A form of Notice of Guaranteed of Delivery is available from the Company or the Warrant Agent.

GMX RESOURCES INC. is a rapidly growing independent E & P company. Key Gas Resource Play in Cotton Valley Sands, Travis Peak Sands & Pettit Limes; North Carthage Field, East Texas, Panola & Harrison County; "Tight Gas Sands" on the Sabine Uplift; 93% Natural Gas; Core Area: 97% of Value; Stacked Multiple Reservoirs; Drilled 56 CVS Wells, 5 Travis Peak Wells since inception in 1998; 26,700 gross / 15,700 net acres; 625 gross / 373 net CVS Locations; 6 Yrs of Development 6 Rigs. Headquartered in Oklahoma City, Oklahoma, GMXR has interests in 94 gross/57.6 net producing wells and operates 67% of its reserves. 52-week price range $7.31 - $42.27; 30 Day Average Daily Volume - 304,210 shares; Common Stock Outstanding - 10,271,101 shares; Institutional Ownership - 54%; Management maintains 24% equity stake. The Company's strategy is to develop its resource play with multiple rigs, increase production, grow its natural gas reserves and continue to build shareholder value.

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. They include statements regarding the company's financing plans and objectives, drilling plans and objectives, related exploration and development costs, number and location of planned wells, reserve estimates and values, statements regarding the quality of the company's properties and potential reserve and production levels. These statements are based on certain assumptions and analysis made by the company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes appropriate in the circumstances, including the assumption that there will be no material change in the operating environment for the company's properties. Such statements are subject to a number of risks, including but not limited to commodity price risks, drilling and production risks, risks relating to the company's ability to obtain financing for its planned activities, risks related to weather and unforeseen events, governmental regulatory risks and other risks, many of which are beyond the control of the company. Reference is made to the company's reports filed with the Securities and Exchange Commission for a more detailed disclosure of the risks. For all these reasons, actual results or developments may differ materially from those projected in the forward-looking statements.

The Securities and Exchange Commission has generally permitted oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms "probable" and "possible" reserves, reserve "potential" or "upside" or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the company.

GMX RESOURCES INC.

CONTACT: Ken L. Kenworthy, Sr., Executive V. P., CFO, ext. 16, or Ken L.Kenworthy, Jr., President, CEO, ext. 11, both of GMX RESOURCES INC.,+1-405-600-0711

Web site: http://www.gmxresources.com/

Source: PRNewswire-FirstCall

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