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Capital Expenditure Budget Sparks Interest: Follow Up Review.

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M2 PRESSWIRE-29 June 2007-Pinnacle Digest: Capital Expenditure Budget Sparks Interest: Follow Up Review(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:29062007

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Abraxas Petroleum Corporation (AMEX:ABP) experienced a rise of 3.19% Thursday coupled with 459,800 shares trading hands. On June 28th today announced a capital expenditure budget for the remainder of 2007 of $16 million. The Company also announced that it has closed a $50 million credit facility with Societe Generale. This has caught the attention of our researchers at PinnacleDigest as we have since begun evaluating this company in respect to their position within the market. We are focused on this company's immediate future objectives and will be reviewing them further. To view our site and information on specific sectors and the position of many base metals, visit our multi-purpose, easy access online magazine at www.pinnacledigest.com.

At PinnacleDigest we break down the markets as well as the sectors within them to give our members a sense of the overall direction the markets and one of their focus company's may be headed. On Thursday the TSX Composite index slipped 26.25 points to close at 13,715.67. Major energy and raw material producers recovered as most commodities rose Wednesday. The Canadian markets have had an exceptional year to...

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