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: Robert T. Quasius who wrote (65)	3/16/2002 10:05:53 AM
From: Ed Ajootian	of 67

The fact that we haven't heard anything on the Ladyfern drilling is music to my ears, since they would have been compelled to put something out if the wells came up dry. They are only 9,000 ft. wells so they've had plenty of time to hit TD by this point. Once we get 4Q out of the way I believe this stock will start the long ride back up the ladder. They probably increased production a bit in 4Q but this was offset by natgas price declines. Now in 1Q we have better prices and also the higher production. I expect to see some analysts reiterate buys or initiate coverage after the 4Q numbers come out.

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