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GMXR took off today after news yesterday of increased reserves.

Could be a foreshadowing of how TGA will react in three weeks when reporting their independent assessment of estimated and proven reserves.

Here's the GMXR news (Wednesday) that took it up some Wednesday plus another 10% today:
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GMX RESOURCES INC. Announces Year End Proved Reserves 64.3 BCFE Beat Estimates and Re-Completions Exceeded Expectations
Wednesday January 12, 10:13 am ET


OKLAHOMA CITY, Jan. 12 /PRNewswire-FirstCall/ -- GMX RESOURCES INC., (Nasdaq: GMXR - News; Warrants: GMXRW), (http://www.gmxresources.com ); GMXR announced today that its estimated proved reserves grew 21% from 12/31/03 to 64.3 BCFE at 12/31/04 and GMXR's reserves are now 88% natural gas according to its independent engineer, Sproule Associates Inc. The 64.3 Bcfe in proved reserves exceeded the Company's recent published internal estimate of 62 Bcfe. A significant part of this increase is as a result of additional proved reserves established by eight successful re-completions in the last 11 months and the 17 gross (5 net) wells that were drilled in 2004 in the Company's joint venture development. Also, 4th quarter production is estimated at 421 MMCFE, which is an increase of 76% over the 4th quarter of 2003 and up 33% from the third quarter of 2004. "We plan to continue the re-completion effort and new drilling in 2005. Additional types of low cost projects as well as Travis Peak/Pettit twins should continue to add reserves to our East Texas development play," stated Ken L. Kenworthy, Jr., CEO of GMXR.

GMX RESOURCES INC. is an independent natural gas producer, headquartered in Oklahoma City, Oklahoma. GMXR has interests in 67 gross/44.9 net producing wells in Texas, Louisiana & New Mexico. GMXR also has a large inventory of development prospects in North Carthage Field of East Texas as follows: 67 gross- 39 net Cotton Valley Sand (CVS) proved undeveloped wells, 113 gross- 74 net CVS probable locations on 160-80 acre spacing and 275 gross- 150 net probable CVS locations on 40 acre spacing. The Company's strategy is to significantly grow production, grow its natural gas reserves and build shareholder value.