Abraxas Petroleum (AXAS) Message Board

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Non-Tech : Abraxas Petroleum (AXAS)

AXAS 0.0347

-66.0%

Jun 22 5:00 PM EST

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To: Area51 who wrote (41)	6/10/1999 6:55:00 PM
From: Robert T. Quasius	Read Replies (1) of 67

Just take the proven oil and gas reserves from the SEC filings (see www.partes.com), multiply by a reasonable pricing, add the gas processing facilities, add raw land, then subtract out the debt. This is a better way of obtaining the valuation of an oil and gas company. By the way, ORYX had negative book value as well, but was acquired. It's all in the ground. If you like, I can copy the research report and FAX or mail it to you.

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