UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
June 17, 2003
Abraxas Petroleum Corporation
(Exact name of registrant as specified in its charter)
Nevada
(State of other jurisdiction of incorporation)
0-19118 74-2584033
(Commission File Number) (I.R.S. Employer Identification Number)
500 N. Loop 1604 East, Suite 100
San Antonio, Texas 78232
(Address of principal executive offices)
Registrant's telephone number,
including area code:
210-490-4788
Item 5. OTHER EVENTS
See attached Press Release
The following exhibits are filed as part of this report:
NUMBER DOCUMENT
99.1 Press release dated June 17, 2003
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ABRAXAS PETROLEUM CORPORATION
By: __/s/Chris Williford__________
Chris Williford
Executive Vice President, Chief Financial
Officer and Treasurer
Dated: June 17, 2003
Exhibit 99.1
NEWS RELEASE
ABRAXAS PETROLEUM EXTENDS EXCHANGE OFFER
SAN ANTONIO, TX (June 17, 2003) - Abraxas Petroleum Corporation (AMEX:ABP)
("Abraxas") today announced that it has extended the exchange offer (the
"Offer") for its 11 1/2% Senior Notes due 2007, Series A (the "Notes"), which
commenced on April 23, 2003. Abraxas has extended the expiration date of the
Offer until 5:00 P.M., New York City time, on June 19, 2003, unless the Offer is
extended.
As of the close of business on June 16, 2003, $113.3 million principal amount,
out of a total outstanding of $113.4 million, of the Notes had been validly
tendered or guaranteed.
The Notes were issued in January of this year in a private placement in
connection with Abraxas' financial restructuring. The Offer is intended to allow
holders of the Notes to exchange their Series A Notes for registered Series B
Notes which may be sold without restriction, subject to certain exceptions
described in the exchange offer prospectus.
This announcement is not an offer to purchase, a solicitation of an offer to
purchase, or solicitation of an offer to sell securities, with respect to any
Notes. The Offer may only be made pursuant to the terms of the Offer to Exchange
and the accompanying Letter of Transmittal.
U.S. Bank, N.A. is the exchange agent for the Offer.
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.
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.
FOR MORE INFORMATION CONTACT:
Janice Herndon/Manager Corp. Communications
Telephone 210.490.4788
jherndon@abraxaspetroleum.com
www.abraxaspetroleum.com