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Abraxas Announces Hiring of Steven P. Harris as Director of Finance and Capital Markets

Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:
AXAS) today announces the hire of Steven P. Harris as Director of
Finance and Capital Markets for the Company. Mr. Harris will report to
Bob Watson, Chairman, President and Chief Executive Officer of Abraxas.

Mr. Harris brings over 20 years of financial and leadership experience
to Abraxas. Most recently, Mr. Harris was with Sundance Energy where he
assisted Sundance’s Business Development and Investor Relations efforts.
From 2008 through 2017, Mr. Harris was a Managing Director and headed
the U.S. Energy Investment Banking division of Canaccord Genuity in
Houston, Texas. Prior to joining Canaccord Genuity, Mr. Harris served in
the Business Development Group at El Paso Exploration and Production.
Mr. Harris earned his Bachelor of Business Administration from the
University of Texas at Austin and a Master of Business Administration
from the Rice University Jesse H. Jones Graduate School of Management.

Bob Watson, President and CEO of Abraxas, commented, “Steve’s financial
and business development experience will prove invaluable as Abraxas
continues to execute on its business plan. Steve also possesses the
necessary financial and investor relations experience to provide a
seamless transition for all of our stakeholders. I and the entire
Abraxas team welcome Steve to the Company and look forward to working
with him.”

Abraxas Petroleum Corporation is a San Antonio based crude oil and
natural gas exploration and production company with operations across
the Rocky Mountain, Permian Basin and South Texas regions of the United
States.

Safe Harbor for forward-looking statements: Statements in this release
looking forward in time involve known and unknown risks and
uncertainties, which may cause Abraxas’ 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 Abraxas for crude oil and natural
gas. In addition, Abraxas’ future crude oil and natural gas production
is highly dependent upon Abraxas’ level of success in acquiring or
finding additional reserves. Further, Abraxas operates in an industry
sector where the value of securities is highly volatile and may be
influenced by economic and other factors beyond Abraxas’ control. In the
context of forward-looking information provided for in this release,
reference is made to the discussion of risk factors detailed in Abraxas’
filings with the Securities and Exchange Commission during the past 12
months.

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