C. K. Cooper & Company Initiates Research Coverage on Abraxas
Petroleum Corp. in a 10-Page Research Initiation Report
IRVINE, Calif., July 12 /PRNewswire/ -- C. K. Cooper & Company published a
10-page report on Abraxas Petroleum Corp. (AMEX:ABP). This research report
details Abraxas' solid drilling portfolio as well as the company's undervalued
story within the E&P sector with operations currently focused in South and West
Texas with emphasis on natural gas exploration and production.
Brian J. Samuels, Associate Director of Research commented, "Last year was a
year of transition for Abraxas as they sold off their interests in Grey Wolf
and paid back a substantial portion of their debt. Going forward, the company
is now armed with the ability to execute a more intensive CAPEX program as they
capitalize on the strength of the current commodity price environment. The
current management team, armed with invaluable expertise in their areas of
operation, has worked diligently and effectively to clean up the balance sheet
by means of eliminating a substantial share of that restrictive debt. The
company is now positioned to capitalize on their large portfolio of drilling
inventory by means of increased capital expenditures, production, and future
acquisitions. The gloves are off." Abraxas Petroleum Corp. closed Monday at $3.06 per share.
C. K. Cooper & Company's clients may view this report by visiting:
http://www.ckcooper.com/.
For more information, please contact: C. K. Cooper & Company Telephone: (949) 477-9300
18300 Von Karman Avenue, Suite 700 Facsimile: (949) 477-9211
Irvine, California 92612 E-Mail: C. K. Cooper & Company is an investment-banking boutique that specialize in the
energy sector with an emphasis on exploration and production companies.
Additional information on the securities mentioned in this report is available
upon request. This report is based on data obtained from a source we believe
to be reliable, but is not guaranteed as to accuracy and does not purport to be
complete. Because of individual client objectives, this report should not be
construed as advice designed to meet the particular investment needs of any
investor. Any opinions expressed herein are subject to change.
This report is not to be construed as an offer or the solicitation of an offer
to buy or sell the securities herein mentioned. From time to time, this firm,
its affiliated entities and/or their respective directors, officers, employees
or members of their immediate families may have long or short positions in the
securities mentioned in this report. These securities may be sold to or
purchased from customers or otherwise by this firm, its affiliated entities,
and/or its directors, officers, employees or members of their immediate
families, as principle or agent.
C. K. Cooper & Company is a member of the National Association of Securities
Dealer, CRD number 106578. DATASOURCE: C. K. Cooper & Company CONTACT: C. K. Cooper & Company, +1-949-477-9300, or fax, +1-949-477-9211, Web site: http://www.ckcooper.com/
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