Abraxas Petroleum Corporation provide the following operational update.

Eagle Ford Shale

In McMullen County, the Mustang 2H averaged 511 boepd (469 barrels of oil per day, 249 mcf of natural gas per day) on a restricted choke over its first 30 days of production. The Mustang 2H is currently flowing to sales at a rate of 437 boepd (407 barrels of oil per day, 177 mcf of natural gas per day).

The Sting Ray A 1H, Abraxas' first 29 stage, 7,500 foot lateral well, is currently being fracture stimulated. Immediately following the completion of the Sting Ray A 1H, the stimulation crew will begin completion operations on the Corvette A 1H. Currently, Abraxas is drilling the first of the Company's two forty acre pilot wells, the Camaro B 4H below 10,000 feet. Abraxas owns an 18.75% working interest in the Mustang 2H and Sting Ray A 1H and a 25% working interest in the Corvette A 1H and Camaro B 4H.

Tags: Abraxas Petroleum Corporation