Abraxas Petroleum Corporation Announces Second Quarter 2001 Financial Results Conference Call

Business Wire, August 10, 2001

Business Editors & Energy Writers

SAN ANTONIO--(BUSINESS WIRE)--Aug. 10, 2001

Abraxas Petroleum Corporation (AMEX:ABP) will announce its second quarter 2001 results Monday, Aug. 13, 2001.

A conference call is scheduled for Tuesday, Aug. 14, 2001, 10:30 a.m. CDT to discuss the Company's quarterly financial results as well as current operational activity. Robert L. G. Watson, President and Chief Executive Officer of Abraxas, will lead the call. A question and answer session will follow the presentation.

Please call the toll free number listed below ten minutes before the appointed time to participate in this conference call:

800/289-0436

Confirmation Code No. 456060

RECALL PROGRAM

If you miss the conference call Tuesday, please use our Recall Service. Details are:

-- Conference recall is available beginning at 12:30 p.m. CDT on Tuesday, Aug.
14.

-- Recall service ends 5:00 p.m. CDT on Tuesday, Aug. 21.

-- The recall number is 888/203-1112; confirmation code is 456060.

A transcript of the call will be posted on the Web site as soon as available.

Abraxas Petroleum Corporation is a San Antonio-based crude oil and natural gas exploitation and production company that also processes natural gas. The Company operates in Texas, Wyoming and western Canada. For additional information about the Company, please visit our Web site, www.abraxaspetroleum.com for the most current and updated information. The Web site is updated daily in order to comply with the SEC Regulation FD (Fair Disclosure).

Safe Harbor for forward-looking statement: 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.