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Abraxas Petroleum Corp. Message Board

  • buckdollar buckdollar Nov 10, 2009 9:01 AM Flag

    Not Good for Abraxas

    The result are not very positive. They lost ~50% of their revenue because of commodity pricing. They cannot make that up fast enough by pumping more production out of what they have. Since the merger we are back to square one with more wells but the same financial structure. IMHO I believe the stock is headed back to under $1.00. I own this dog and depending on today's action might just take my loses and try something else.

 
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