Galaxy Energy Appeals Amex Delisting
13 Februar 2008 - 9:45PM
PR Newswire (US)
DENVER, Feb. 13 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation
(AMEX:GAX) has filed an appeal requesting a hearing before an
American Stock Exchange (Amex) panel regarding the continued
listing of the company's common stock on the exchange. The appeal
automatically stays the delisting of Galaxy's common stock pending
a hearing date and Amex's decision. As previously announced, Amex
notified Galaxy that the company was no longer in compliance with
the exchange's continued listing standards, namely Sections
1003(a)(i), 1003(a)(ii), 1003(a)(iii), and 1003(a)(iv) of the Amex
Company Guide, and was subject to delisting. Galaxy had the right
to appeal the determination of the Amex staff by February 14, 2008.
The hearing is expected to be held within 45 days, with the time
and place to be determined by Amex. During this period, Galaxy's
stock will continue to be listed on the Amex pending the outcome of
the appeal. No assurances can be given that the appeal will be
successful. If Galaxy's appeal is not successful, the company would
likely pursue quotation on the Over-the-Counter Bulletin Board
(OTCBB). Galaxy traded on the OTCBB prior to listing on the Amex in
November of 2005. About Galaxy Energy Galaxy Energy Corporation, a
development stage oil and gas exploration and production company,
focuses its operations in the Powder River Basin of Wyoming and the
Piceance Basin of Colorado, in addition to exploration activities
in Germany and Romania. Galaxy conducts its exploration activities
through two wholly owned subsidiaries, Dolphin Energy Corporation
and Pannonian International, Ltd. Forward Looking Statement This
press release consists of forward looking statements regarding the
intent, belief or current expectations of Galaxy and its
management. Prospective investors are cautioned that any such
forward looking statements are not guarantees of future performance
and involve a number of risks and uncertainties, and actual results
could differ materially from those indicated by such forward
looking statements. Galaxy assumes no obligation to update the
information contained in this press release, whether as a result of
new information, future events or otherwise. Please refer to
Galaxy's filings with the United States Securities and Exchange
Commission for discussions of risks and uncertainties found in
Forms 10-K (annual report), 10-Q (quarterly report) and other
filings. Additional information may be found at the Galaxy Energy
Corporation Web site, http://www.galaxyenergy.com/ or by calling
Brad Long, Investor Relations/Galaxy Energy at (800) 574-4294, Bevo
Beaven or Warren Laird of CTA Integrated Communications at (303)
665-4200, or Tina Cameron, Renmark Financial Communications at
(514) 939-3989. CONTACT: Brad Long / Investor Relations Bevo
Beaven, Sr. Vice President/GM Galaxy Energy Warren Laird, Vice
President (360) 332-9821 CTA Integrated Communications (800)
574-4294 (303) 665-4200 DATASOURCE: Galaxy Energy Corporation
CONTACT: Brad Long, Investor Relations of Galaxy Energy
Corporation, +1-360-332-9821 or 1-800-574-4294; or Bevo Beaven, Sr.
Vice President|GM or Warren Laird, Vice President, both of CTA
Integrated Communications, +1-303-665-4200, for Galaxy Energy
Corporation Web site: http://www.galaxyenergy.com/
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