Abraxas receives approval to drill Wyoming permits

Abraxas Petroleum Corporation, a San Antonio based crude oil and natural gas exploration and production company with operations principally in Texas and Wyoming, has received approval on two of its drilling permits in Brooks Draw, Wyoming.

The company hopes to receive approval on three additional permits, in which it owns a 100% working interest, some time in the third quarter of 2008. The company has hired a rig which will commence drilling some time in mid August.

The wells will be drilled horizontally into the Mowry Shale and/or the Turner Sandstone.

Bob Watson, President and CEO of the company, said after a very lengthy permitting process, we are finally able to move forward in Wyoming.

We will be very active operationally during the second half of 2008. Currently, we are drilling below 9,000′ on the Nordheim #2H well in South Texas and we are in the completion process on the Beulah Coleman #13 well in West Texas, concluded Mr. Watson.