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[Timothy Smith]

$AXAS - Bottom bounce in the making.

Abraxas Petroleum Corp. has a Return on Assets of 11.38%, a Net Margin of 36.59%, and a Analysts' Rating of 1.40.

Abraxas Petroleum Corp. has a Analysts' Rating of 1.40, a Earnings Per Share Growth Rate of 551.46%, and a Return on Equity of 48.22%.

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, development, exploration, and production of oil and gas in the United States and Canada.

Its oil and gas assets are primarily located in the Rocky Mountain, Mid-Continent, Permian Basin, and Gulf Coast regions of the United States, as well as in the province of Alberta, Canada.

As of December 31, 2010, the company's estimated net proved reserves were 26.6 million barrels of oil equivalent.

On August 9th the in conjunction with earnings management did this call which lead to the drop from The $2.70 range to $2.

http://seekingalpha.com/article/799981-abraxas-petroleum-management-discusses-q2-2012-results-earnings-call-transcript

The company still has a lot of upside through drilling activities and traded over $4 twice in the last 52 weeks including after hitting $2 last October so there could be a $3-4 expectation going into 2013 again based on positive results and the determination of their refinancing at the bank level.