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Abraxas Petroleum Corp. Message Board

  • mrs_schit mrs_schit Jun 4, 2011 5:26 PM Flag

    AXAS is...

    a sitting duck as an asset play...NAV based on JUST proven reserves is 4.76....but anyone who knows AXAS at all knows the real value lies in the probable reserves ....

    What you have to understand is that for the last decade AXAs has been capex constrained due to their excessive debt.....however that has changed big time...FINALLY afters years and years AXAS is now able to increase their capex which they have done significantly and early results have been very strong...I think one well increased the companies entire production by 20%!

    BEXP was in very similar situation 2 yrs ago when they did their 32 million share deal at 3.50...lowered debt and increased capex....take a look and see how that's turned out...AXAS is just 2-3 yrs behind...but in same spot now....as they new wells come on line the stock will move...cash flow will increase and so will capex...perhaps they will raise more$ $ as BEXP did along the way...then its game over and stock is a 2-3 bagger from these levels...

    And of course AXAS mgt could make one phone call and sell out tmmrw for 13+

    So bash all you like...the assets are real and the stock is compelling buy for anyone with attention span longer than a few days/ weeks

    Good luck on your short but you've had fair warning...dont ever short a dull stock

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AXAS
1.17-0.12(-9.30%)Jul 25 4:00 PMEDT