Abraxas Petroleum Corporation is pleased to provide the following operational and guidance update as well as announce an upcoming presentation.

Eagle Ford

At Abraxas’ Jourdanton prospect in Atascosa County, Texas, the Snake Eyes 1H averaged 759 boepd (701 barrels of oil per day, 343 mcf of natural gas per day) (1) over the well’s most recent 30 days of production. The Spanish Eyes 1H averaged 203 boepd (190 barrels of oil per day, 81 mcf of natural gas per day) (1) over the well’s most recent 30 days of production. Since being placed on submersible pump, the Spanish Eyes averaged 321 boepd (301 barrels of oil per day, 114 mcf of natural gas per day) (1) over the following nine full production days.

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