Replies to post #544 on Abraxas Petroleum Corp (fka AXAS)

[Timothy Smith]

Do you think this action has been largely due to the call for an emergency meeting or sort of a dead cat bounce?

[Timothy Smith]

Abraxas Petroleum is higher after announcing that its bank syndicate reaffirmed its borrowing base at $165M through April 1, 2016.

AXAS also says it continues working on steps to improve profitability amid low commodity prices, including shutting in or divesting any marginal wells and making additional investments in its production facilities and ancillary equipment; it expecting the moves will lead to more predictable production in the future.

AXAS lowers its FY 2015 production guidance to 5,800-6,500 boe/day, and sees full-year capex of $55M-$65M.