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To: Douglas V. Fant who wrote (44962)	5/18/1999 9:26:00 PM
From: Robert T. Quasius	Read Replies (1) \| Respond to of 95453

Insiders continue to accumulate AXAS in a big way! Here's some recent transactions (last six months), from www.partes.com. I've included open market buys, as there are many stock option related transactions as well. Note that many of the larger transactions were in the $3-4 range, well above the current price. AXAS is predominately a natural gas producer. Paul Powell, Director, 3/2/99, Bought 5,000 shares @ $1.44 Paul Powell, Director, 3/2/99, Bought 2,000 shares @ $1.46 Robert Watson, President, 3/3/99, Bought 2,060 shares @ $1.69 Lee Billingsley, Director, 3/31/99, Bought 5,000 shares @ $1.75 James Phelps, Director, Bought 30,000 shares @ $3.03 Franklin Burke, Director, Bought 75,707 shares @ $3.00 - $4.06 Paul Powell, Director, 1/8/99, Bought 1,000 shares @ $3.22 Franklin Burke, Director, Bought 98,300 shares @ $4.06 - $4.56