Notification That Annual Report Will Be Submitted Late (nt 10-k)
March 16 2020 - 05:12PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check one):
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☒ Form 10-K
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☐ Form 20-F
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☐ Form 11-K
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☐ Form 10-Q
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☐ Form 10-D
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☐ Form N-CEN
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☐ Form N-CSR
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For Period
Ended: December
31, 2019
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☐ Transition Report on Form 10-K
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☐ Transition Report on Form 20-F
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☐ Transition Report on Form 11-K
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☐ Transition Report on Form 10-Q
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For the Transition Period
Ended:
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Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
ABRAXAS PETROLEUM
CORPORATION
Full Name of Registrant
Former Name if Applicable
18803 MEISNER DRIVE
Address of Principal Executive Office (Street and
Number)
SAN ANTONIO, TX 78258
City, State and Zip Code
PART II -- RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule
12b-25 (b), the following should be completed. (Check box if
appropriate)
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(a)
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The reason described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
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☒
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(b)
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The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or
portion thereof, will be filed on or before the fifteenth
calendar day following the prescribed due date; or the subject
quarterly report or transition report on Form 10-Q or subject
distribution report on Form 10-D, or portion thereof, will be
filed on or before the fifth calendar day following the prescribed
due date; and
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(c)
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The accountant’s statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III -- NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F,
11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or
portion thereof, could not be filed within the prescribed time
period. See attached.
PART IV -- OTHER INFORMATION
(1)
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Name and telephone number of person to contact in regard to this
notification
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Steven P. Harris
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210
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490-4788
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(Name)
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(Area Code)
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(Telephone Number
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(2)
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Have all other periodic reports required under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months or
for such shorter period that the registrant was required to file
such report(s) been filed? If answer is no, identify report(s).
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☒ Yes ☐ No
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(3)
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Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the
subject report or portion thereof?
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☒ Yes ☐ No
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If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be
made.
ABRAXAS PETROLEUM CORPORATION
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: March 16, 2020
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By:
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/s/Steven P. Harris
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Name: Steven P. Harris
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Title: Vice President-Chief Financial
Officer
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ATTENTION
Intentional misstatements or omissions of fact constitute
Federal Criminal Violations (See 18 U.S.C. 1001).
PART III – NARRATIVE
Abraxas Petroleum Corporation (the “Company”) cannot timely file
its Form 10-K for the period ended December 31, 2019 due to the
unprecedented recent decline in oil prices and related geopolitical
developments which have required the Company to review and assess
the anticipated effects on its financial condition and liquidity
and related disclosures. The delay could not be eliminated by the
Registrant without undue expense and unreasonable effort.
PART IV -- OTHER INFORMATION
The Company will file the subject Form 10-K no later than the
fifteenth calendar day following the prescribed due date.
The results of operations for the year ended December 31, 2019 will
likely include an impairment of proved oil and gas properties.
Management is currently assessing the impact the impairment will
have on the Company’s financial statements.
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