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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (8683)	4/4/2002 7:50:31 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206110

Scott/ex, ABP is in the Ladyfern project proper, with the very same companies that have had the huge success there (biggest natgas play in Canada right now). They have a 6-well project going there. 2 are dry holes, 2 are good (should start producing by the end of the month) and 2 have not hit TD yet. These wells could each do 20 - 30 MMCFD so as you can see they will have a tremendous impact to ABP's production. One property sale has already closed (for about $20 M) and they have another $30 - $80 M for sale that is being actively marketed and bids are due by the end of the month. Biggest reason the stock is languishing IMO is that they did not get much new production in place for 1Q so it will probably be pretty flat to 4Q of last year. But they said in the 4Q CC that they plan to put a bunch of new production in place this month (other than Ladyfern) and 2Q should be a lot better. Here is the latest analyst report on them, by Credit Lyonaise, from the ABP web site (which is pretty good): abraxaspetroleum.com I believe this one can avoid the problems that PNO got into because it has world class drilling prospects such as Ladyfern and its horizontal drilling play in Montoya (TX).