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GMX Resources (GMXR) +10.4% premarket after announcing the spudding of an eighth Bakken well in...
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Tuesday, July 3, 2012, 8:40 AM ETGMX Resources (GMXR) +10.4% premarket after announcing the spudding of an eighth Bakken well in North Dakota. GMXR has a 50% working interest in the Basaraba 24-35-1H, with a proposed total depth of 20,950 ft. and proposed total vertical depth of 11,221 ft. The well was spud with an Helmerich & Payne (HP) FlexRig 3.
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I'm in this for the preferred, but if the company plan for the Bakken and the Niobrara doesn't work, the preferred will go down with the common.
Today is one leg up.