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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Chris who started this subject8/22/2002 2:12:44 PM
From: pchristi12534  Read Replies (1) of 52237
 
An SC 13G was filed yesterday afternoon by Peter Lynch (address listed in 13G is same Boston address as Fidelity – ergo, assume it’s THE Peter Lynch) covering an investment in Abraxas (ABP-Amex- $0.90). Lynch owns or controls 1,840,000 shares, or 6.14% of ABP. If he hasn’t lost his near-magical investment touch, thought this might be of interest.

From their latest 10K report:

Abraxas Petroleum Corporation ("Abraxas" or the "Company") is an independent energy company engaged primarily in the acquisition, exploration, exploitation and production of crude oil and natural gas. Since January 1, 1991, our principal means of growth has been through the acquisition and subsequent development and exploitation of producing properties and related assets. As a result of our historical acquisition activities, we believe we have a substantial inventory of low risk exploration and development opportunities, the development of which is critical to the maintenance and growth of our current production levels.
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