GMX RESOURCES Announces Preliminary Results of Its Tender Offer and Consent Solicitation for Its 11.375% Senior Notes Due 2019

GMX RESOURCES INC.

today announced that it had received, as of 5:00 p.m., New York City Time, on December 14, 2011 (the "Expiration Time") tenders and consents from the holders of approximately $198 million in aggregate principal amount, or approximately 99%, of its outstanding $200,000,000 11.375% Senior Notes due 2019 (the "Existing Notes") in connection with its previously announced exchange offer and consent solicitation for the Existing Notes, which commenced on November 15, 2011. Holders tendering in the exchange offer will receive new 11.00% Senior Secured Notes due 2017 (the "New Notes"). Pursuant to the terms of the exchange offer, holders of the Existing Notes were entitled to exchange, for each $1,000 principal amount of Existing Notes tendered by such holder, either: (a) $750.00 principal amount of New Notes (the "Exchange Only Election") or (b) $971.40 principal amount of New Notes, if the holder subscribed to purchase for cash an additional $600.00 principal amount of New Notes, to be issued at par, in a private placement being made to the holders in connection with the Exchange Offer for each $1,000 principal amount of Existing Notes tendered by such holder (the "Exchange and Purchase Election"). The New Notes will mature in December 2017, be secured by substantially all of the assets of the Company and accrue cash interest at 11.0% per annum (or, at the Company's option, 9.0% cash pay and 4.0% payment in kind in additional New Notes).