Galaxy Energy Receives Notice of Delisting Application to be Filed by AMEX
February 08 2008 - 7:00AM
PR Newswire (US)
DENVER, Feb. 8 /PRNewswire-FirstCall/ -- On February 7, 2008,
Galaxy Energy Corporation (AMEX:GAX) received a notice from the
American Stock Exchange (Amex) staff indicating that Galaxy no
longer complies 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 that Galaxy's common
stock is subject to being delisted from the exchange. Galaxy has
the right to appeal the determination of the Amex staff before
February 14, 2008. Galaxy has not yet decided whether to appeal
such determination. If Galaxy does not appeal such determination,
Galaxy's common stock will cease trading on the Amex after February
14, 2008. If delisted, management believes that Galaxy's common
stock will be eligible for quotation on the Over-the-Counter
Bulletin Board. 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.ctapr.com/
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