Abraxas Reports Second Quarter 2006 Results with Five Consecutive Quarters of Production Growth including a 41% Increase in Daily Production over Second Quarter 2005.

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Abraxas Reports Second Quarter 2006 Results with Five Consecutive Quarters of Production Growth including a 41% Increase in Daily Production over Second Quarter 2005.

SAN ANTONIO -- Abraxas Petroleum Corporation (AMEX:ABP) today reported financial and operating results for the quarter and six months ended June 30, 2006 and provided an operational update.

Daily production from the second quarter of 2006 increased 5% over the first quarter of 2006 marking five consecutive quarters of production growth.

Results for the quarter ended June 30, 2006 included:

--Production of 2.0 Bcfe, a 41% increase over Q2 2005;

--Revenue of $13.3 million, a 38% increase over Q2 2005;

--EBITDA (a) of $9.4 million, a 61% increase over Q2 2005; and

--Cash flow (a) of $5.3 million, a 117% increase over Q2 2005.

Results for the six months ende...

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