Abraxas Petroleum Corporation Begins Trading On the American Stock Exchange -- Ticker ``ABP''.Business Editors & Energy Writers SAN ANTONIO--(BUSINESS WIRE)--Aug. 18, 2000 Abraxas Petroleum Corporation (AMEX AMEX See: American Stock Exchange :ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. ) is trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. effective today, Aug. 18, 2000, under the symbol "ABP." The Company's stock had been trading on the over-the-counter bulletin board under the symbol "AXAS." Bob Watson, Company CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. commented, "We plan to immediately utilize the AMEX to attract a much greater following of analysts, institutional and individual investors. The American Stock Exchange will give Abraxas a significantly higher profile in the investment community." The American Stock Exchange is the United States' second largest floor-based exchange offering securities trading on an advanced centralized specialist system combining technologically driven speed with market driven liquidity. The AMEX is part of the Nasdaq-Amex Group, the largest self-regulatory securities organization in the United States. The market specialist for Abraxas will be Spear, Leeds, & Kellogg, the largest specialist firm on the floors of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and American Stock Exchange. Abraxas Petroleum Corporation is a San Antonio-based crude oil and natural gas exploration and production company that also processes natural gas. It operates in Texas, Kansas, Wyoming and western Canada. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Statements in this release looking forward in time involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance suggested in this release. Such factors may include, but may not be necessarily limited to, changes in the prices received by the Company for crude oil and natural gas. In addition, the Company's future crude oil and natural gas production is highly dependent upon the Company's level of success in acquiring or finding additional reserves. Further, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. In the context of forward-looking information provided for in this release, reference is made to the discussion of risk factors detailed in the Company's filing with the Securities and Exchange Commission during the past 12 months. |
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