Viewer's Choice

[littlejohn]

AXAS 1.98, reported about 42% revenue increase

in 1st quarter, 2022 versus 1st

quarter, 2021 on Permian/Delaware

Basin production in Texas...

2022.. $12,185,000 revenue...

2021.. $8,549,000 revenue...

+$3,636,000 = + 42%, more or less...

https://www.otcmarkets.com/filing/html?id=15820036&guid=1MKwkpULUx-HEBh

AXAS had restrictions due to bad health

of company finances in 2021 that didn't

allow spending on production pursuits...


AXAS year to year production review...

oil production declined...

natural gas production increased sligthly...

NGL production increased slightly...

Only about $106,000 of rig expenses

were reported in 1st quarter, 2022...

Interest expense Improved Tremendously...

$70,000 interest cost, 1st quarter, 2022,,,

$6,023,000 interest cost, 1st quarter, 2021...

+$5,953,000 reduction of interest cost...


Negative,,, General and Administrative

expenses were way too high in 1st

quarter, 2022 after divesting the

Bakken assets...

Always room for improvement...

So we watch...LJ