December 8, 2009 (FinancialWire) — GMX Resources Inc. (NASDAQ: GMXR) will pay a regular quarterly dividend of $0.578125 per share on December 31, 2009 to holders of record as of December 21, 2009 on the 2,000,000 outstanding shares of its 9.25% series B Cumulative preferred stock.

GMXR is a ‘Pure Play’, E & P company with one of the most leveraged Haynesville / Bossier Horizontal Shale Operations in East Texas. The company has 465 Bcfe in proved reserves (YE2008), 94% of which are natural gas.

The company’s proved reserves are 81% operated and consist of 762 gross / 520 net H/B Hz 80 acre un-drilled locations; 11 gross / 10.9 net H/B producers, and 324 gross / 186.9 net Cotton Valley Sand (CVS) producers; 2,657 gross / 1,974 net CVS 20 acre un-drilled locations; and 45 gross / 37.5 net Travis Peak / Hosston Sands & Pettit producers.

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