GMX Resources has completed the Holt 1H (formerly the K5 1H) Haynesville / Bossier horizontal (H/B Hz) well with a 4,900 foot lateral and 12 fracture treatment stages and an initial 24 hour production (IP) rate of 9.3 million cubic feet per day (MMcfd) of gas, on a 25/64 choke and 4156 pounds of flowing casing pressure (FCP) into the sales line. The last six H/B Hz wells the Company has completed have an average IP rate of 9.0 MMcfd, and the H/B Hz wells with lateral lines greater than 4000 feet have collectively averaged more than 5.4 MMcfd in the first 30 day period.

In addition to its first eight completed H/B Hz wells, the Company has successfully drilled the TJT Simpson 1H H/B Hz well with a 4,750 foot lateral, which is scheduled for fracture treatment in late August 2009. The Company's Verhalen "B" 1H H/B Hz well is currently drilling and is expected to be completed in August 2009.

Tags: GMX Resources Inc.