Dune Energy, Inc. Receives Notice From NYSE Alternext US of Acceptance of the Company's Plan of Compliance Until June 15, 2010
19 2월 2009 - 12:35AM
PR Newswire (US)
HOUSTON, Feb. 18 /PRNewswire-FirstCall/ -- Dune Energy, Inc. (NYSE
Alternext US: DNE) announced that the company was granted an
extension until June 15, 2010 to regain compliance with the
continued listing standards of the exchange. The exchange notified
the Company that they would be subject to periodic review during
the extension period. On December 15, 2008, as previously disclosed
in a press release of December 19, 2008 and an 8-K of the same
date, the Company received notice from the NYSE Alternext US ("the
Exchange") indicating that the Company was not in compliance with
certain conditions of the Exchange's continued listing standards
under Section 1003 of the Company Guide. Specifically, the Exchange
noted the Company's failure to comply with (a) Section 1003(a)(i)
of the Company Guide relating to stockholders' equity of less than
$2,000,000 and losses from continuing operations and net losses in
two out of its three most recent fiscal years; (b) Section
1003(a)(ii) of the Company Guide relating to stockholders' equity
of less than $4,000,000 and losses from continuing operations and
net losses in three out of its four most recent fiscal years; and
(c) Section 1003(a)(iii) of the Company Guide relating to
stockholders' equity of less than $6,000,000 and losses from
continuing operations and net losses in its five most recent fiscal
years. The notice was based on a review by the Exchange of publicly
available information, including the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2008. The Company
submitted a plan of compliance on January 13, 2009 detailing the
steps anticipated in order to regain compliance with the listing
standards which was accepted on February 17, 2009. Click here for
more information:
http://www.duneenergy.com/news.html?b=1683&1=1 FORWARD-LOOKING
STATEMENTS: This document includes forward-looking statements.
Forward-looking statements include, but are not limited to,
statements concerning estimates of expected drilling and
development wells and associated costs, statements relating to
estimates of, and increases in, production, cash flows and values,
statements relating to the continued advancement of Dune Energy,
Inc.'s projects and other statements which are not historical
facts. When used in this document, the words such as "could,"
"plan," "estimate," "expect," "intend," "may," "potential,"
"should," and similar expressions are forward-looking statements.
Although Dune Energy, Inc. believes that its expectations reflected
in these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that
actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to
differ from these forward-looking statements include the potential
that the Company's projects will experience technological and
mechanical problems, geological conditions in the reservoir may not
result in commercial levels of oil and gas production, changes in
product prices and other risks disclosed in Dune's Annual report on
Form 10-K filed with the U.S. Securities and Exchange Commission.
DATASOURCE: Dune Energy, Inc. CONTACT: Investors, Steven J. Craig,
Sr. Vice President Investor Relations and Administration of Dune
Energy, Inc., +1-713-229-6300 Web Site: http://www.duneenergy.com/
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