Abraxas Petroleum Corporation and Grey Wolf Exploration Inc. Announce Combination Discussions.Business Editors SAN ANTONIO & CALGARY, Alberta--(BUSINESS WIRE)--Jan. 19, 2001 Abraxas Petroleum Corporation (AMEX AMEX See: American Stock Exchange :ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. ) and Grey Wolf Exploration Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GWX GWX Grey Wolves Expansion (for Silent Hunter III video game) GWX Genigraphics Link .) jointly announced today that they are in discussions concerning a stock for stock acquisition of the remaining 51% ownership of GWX that Abraxas does not currently own. 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, Wyoming and western Canada. Grey Wolf is a junior oil and natural gas exploration and production company that trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . For additional information about the Companies, please visit their web sites, www.abraxaspetroleum.com and www.greywolf.ca, for the most current and updated information. The web sites are updated regularly in order to comply with the SEC Regulation FD (Fair Disclosure). No stock exchange or securities commission has either approved or disapproved the information contained herein. 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 the value of securities is 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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