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Abraxas Petroleum Corp. Message Board

  • jhorn65 jhorn65 Mar 15, 2013 12:03 PM Flag

    Do you think the Clinton Group believe AXAS will hit $3 within 3 months?

    Or will there be a buy-out?

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    • Yes! Here's why:
      McMullen County TX has 5 wells flowing
      Cobra _ 117 MBBO __ 83 MCF
      Cobra B 1H (25% WI): 592 BOE/D 95% oil or 16,872 BBO and 5,150 MCF in first 30 days
      Mustang 1H (18.75% WI): 50.5 MBOE (1.5 months)
      Corvette C 1H (25% WI): 808 BOD and 355 MCF/D or 26,015 BOE with 93% liquid
      Gran Torino A 1H (18.75% WI) FRAC and flow-back expected
      One a Total Vertical Depth
      Mustang 3H at TVD 15,007 feet, Horizontal start, March FRAC (18.75% WI)
      One Rigging-up
      Mustang 2H Rigging Up (18.75% WI) 2nd WyCross at TVD
      Ward County TX has the field started
      Field _ 55 MBBO _ 329 MCF in 2012
      Wilkes 1 TVD (100% WI) Yates is a shallow well
      rigging up Wilkes 2 will be finished in April
      Then in North Dakota 4 prime wells the Lillibridge are being batched drilled and will come into production together.
      North Fork AXAS has 3,314 Net Acres
      RAVIN 26-35 1H: Cum. prod 102,406 BBO and 163,209 MCF thru Jan13 (WI 49%)
      STENEHJEM 27-34 1H: Cum. prod 94,950 BBO and 196,628 MCF thru Jan13 (WI 72%)
      JORE Federal 2-11 3H: Cum. prod 25,520 BB) and 45,233 MCF thru Jan13 (WI 76%)
      RAVIN 26-35 2H (3 Forks) 1,980 BBO and 398 MCF thru Jan13 (WI 49%)
      RAVIN 26-35 3H 332 BBO in Jan13 (WI 49%)

      PERSHING Field
      LILLIBRIDGE (34% WI): 1H, 2H, 3H, and 4H TVD and Casing set, Lateral complete on 4H then 3H lateral start, 2H, 1H
      AXAS is moving the skiddable rig over 200 feet to Lillibridge 3H today; the well has already been drilled to TVD, so now it will be two weeks to complete the Horizontal portion.
      Then the skiddable moves to Lillibridge 2N for the Horizontal, two weeks
      Next skiddable to Lillibridge 1H, 2 weeks for Horizontal
      FRAC one after the other 1 week
      Pull plugs and settle, 1 week
      Flow-back, so in about 8 ½ weeks from today, ALL Y’ALL shorts will be toast


      Sentiment: Strong Buy

1.67+0.02(+1.52%)Sep 29 4:00 PMEDT