Centennial Energy Partners sent a letter to GMX suggesting a sale of the company. Centennial expressed doubt that GMX will be able to realize the value of its assets without immediate actions by its board. Centennial also requested that the GMX board begin a formal process to review strategic options, including the potential sale of the company. Centennial holds 2,848,571 shares (15.16% of the total outstanding).

From a recent Mad Money show:"The break-up value is substantially more than you can buy it for. I'd encourage you to buy that. "

From a recent Mad Money show:"The break-up value is substantially more than you can buy it for. I'd encourage you to buy that. "

Good energy trade

Huge pullback with recent buying, short term play with target of $70.

Buy - Price 66.41 on June 18
by Jefferies & Co.

Concurrent with the standardization of Haynesville Shale assumptions (acreage impairment, well economics and spacing) across Jefferies' exploration and production group, and also incorporating [GMXR's recent] acquisition, we're raising our price target to 82 a share from 63.... Multi-rig development of Haynesville potential should begin by the end of this year. We estimate [that the new 27,500-acre] acquisition was done at a cost of around $4,500 to $4,700/acre...which should be funded with GMXR's expanded credit facility and shouldn't require new equity capital. The new assumptions increase our [net asset value] and price target by $19...all attributable to Haynesville [east Texas/northwest Louisiana]. Market cap: $917 million.

Oil & Gas exploration could get real big in the US if drilling permits are issued.

7.3

takeover target in the oil and gas area

10.1, 21%