Abraxas Petroleum : Notification that form 10-K will be submitted late

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

		NOTIFICATION OF LATE FILING
(Check one):	☒ Form 10-K	☐ Form 20-F	☐ Form 11-K	☐ Form 10-Q	☐ Form 10-D
	☐ Form N-CEN	☐ Form N-CSR
	For Period Ended:	December 31, 2019

• Transition Report on Form 10-K
• Transition Report on Form 20-F
• Transition Report on Form 11-K
• Transition Report on Form 10-Q For the Transition Period Ended:

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)

• 1. The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
  2. 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
• 1. The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

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. Name and telephone number of person to contact in regard to this notification

Steven P. Harris	210	490-4788
(Name)	(Area Code)	(Telephone Number

1. 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).
2. • Yes ☐ No
3. 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?
4. • Yes ☐ No

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	By: /s/Steven P. Harris
		Name:	Steven P. Harris
		Title:	Vice President-Chief Financial Officer

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.