Abraxas Update

Link here to Abraxas update.

In the Bakken:

The refurbishment of the Company owned drilling rig has been completed and is currently rigging up in McKenzie County, North Dakota where it is scheduled to spud its first well, the Ravin 26-35 3H, a middle Bakken horizontal well, later this week. Abraxas owns an approximate 59 percent working interest in this well, as well as in the Ravin 26-35 2H, which will be drilled concurrently from the same multi-well pad site.

But this is the best line of the day:

"After many unforeseen delays, many of which were beyond our control, the drilling rig is in North Dakota and will be turning to the right very soon. ..... The Hedgehog well is probably one of the best in the Crossbow area, and the Cobra well is quite impressive, ....We look forward to getting all of the Pekisko wells on-line and stimulated .... With these new wells now or soon to be on-line, our 2011 exit rate production guidance will be exceeded – just a little late," commented Bob Watson, Abraxas' President and CEO.

His candor is refreshing.