Challenger Receives Delisting Letter From NYSE Alternext; Trading to Continue on TSX Venture Exchange
09 März 2009 - 2:05PM
Marketwired
Challenger Energy Corp. ("Challenger" or "Company") (TSX VENTURE:
CHQ)(NYSE Alternext US: CHQ) announces that NYSE Alternext has
issued a letter notifying Challenger of NYSE Alternext's intention
to strike the common shares of Challenger from NYSE Alternext by
filing a delisting application with the Securities and Exchange
Commission. NYSE Alternext took this step in response to
Challenger's announcement on February 27, 2009, that it had
obtained an order (the "CCAA Order") for protection from creditors
under the Companies' Creditors Arrangement Act (Canada), and cited
Challenger's non-compliance with Sections 301 and 1003(a)(iv) of
the NYSE Alternext US LLC Company Guide.
Challenger's shares continue to trade on the TSX Venture
Exchange, where suspension and delisting is currently prevented by
the CCAA Order.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil
and gas exploration company focusing on exploration Block 5(c)
offshore the Republic of Trinidad and Tobago. See
www.challenger-energy.com for information on Challenger.
This news release contains forward-looking information,
including estimates, projections, interpretations, prognoses and
other information that may relate to future production, resource
potential and/or reserves, project start-ups and future capital
spending, as well as the outcome of proceedings under the
Companies' Creditors Arrangement Act (Canada). Forward-looking
information contained in this news release is as of the date of
this news release. The Company assumes no obligation to update
and/or revise this forward-looking information "except as required
by law". Actual results, estimates, projections, resource potential
and/or reserves, interpretations, prognoses and/or estimated
results could differ materially due to changes in project
schedules, operating performance, demand for oil and gas,
commercial negotiations or other technical and economic factors or
revisions. This news release may contain the reference to the term
"undiscovered natural gas resources", which are those quantities of
natural gas estimated to be contained in accumulations yet to be
discovered. There is no certainty that any portion of undiscovered
resources (oil, natural gas, natural gas liquids or other
hydrocarbons) will be discovered and that, if discovered, in this
or any other discovery, the discovered resource may not be
economically viable or technically feasible to produce.
Statements contained in this news release relating to future
results, events and expectations are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements involve known and unknown
risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates,
projections, resource potential and/or reserves, interpretations,
prognoses, schedules or achievements of the Corporation, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
statements. Such factors include, among others, those described in
the Corporations' annual reports on Form 20-F on file with the U.S.
Securities and Exchange Commission.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Challenger Energy Corp. Manjeet Dhillon (403) 503-8813
(403) 503-8811 (FAX) Challenger Energy Corp. Suite 200, 744 - 4th
Avenue S.W. Calgary, Alberta, Canada T2P 3T4 Website:
www.challenger-energy.com
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