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Abraxas Petroleum Corp. Message Board

  • bogwa1406 bogwa1406 Jun 6, 2014 11:54 AM Flag

    I'll never underestimate what Bob Watson might do. Nobody including myself saw the Wycross sale coming

    and it actually was the deal that really turned the table for AXAS. Bob has clearly stated he would even consider selling the Bakken if it was a good deal for the shareholders and if anyone looks back at the numbers on Wycross you'll see it was a good deal. Axas has a lot of Permian acreage, it has Duvernay and it has natgas assets...all of which are more or less just sitting on the back burner. I'm of a mindset that if indeed the Bakken down spacing works out to double up inventory and if the Jourdanton south proves out it's inventory....all the non-core assets are just gonna be clutter and distractions. With the inventory the Bakken and Joudanton represent, I just don't see the non-core assets being kept in the storage locker. The point being....the current production strategy and operated high WI wells is a winning strategy and all current estimates are based on just what's visible...but Bob has shown his ability to pull a rabbit out of the hat when no one is expecting it. I haven't gone out into the cold ( selling ) because I know that the door can close fast and if and when it does..I want to be on the inside not the outside. I've seen at least 3 (three) sizable pullbacks since buying AXAS...I've never gone out in the cold...I have put more wood on the fire and every time the room warms up I've heard moaning coming from those who did leave. JMHO GLTA

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    • What I noticed is all the nonsense talk when Watson said in the Conference that the newly completed Jore Federal Wells were producing at or above the last wells completed (Lillibridge.).

      If anybody look; the Lillibridge Wells are Great Wells. Also if you didn't noticed; The Jore Federal Wells have a 76% Working Interest; the Lillibridge had only 34% Working Interest.
      The Three JORE Federal Wells NET Production to Abraxas is worth Six Lillibridge Wells Net Production.

      Based on the 1st Jore Well; the Jore Wells will produce more Natural Gas than the Lillibridge Wells.


      • 1 Reply to pocilujko
      • Yes, it was comical at times..I thought for a moment there we had one analyst who was going to step up to the plate to add the other rig....the man was fixated on the highest production scenario. They hear what they want to hear Poc...ain't nothing much other than that. I know what I keep hearing and seeing...and so far I like it. JMHO GLTA

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