dragon man
17 years ago
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
SOURCE Galaxy Energy Corporation
Source: PR Newswire (February 13, 2008 - 3:45 PM EST)
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dragon man
17 years ago
DENVER, March 19 /PRNewswire-FirstCall/ -- On March 17, 2008, Galaxy Energy Corporation (Amex: GAX) received a letter from the American Stock Exchange (Amex) notifying Galaxy of its failure to comply with Sections 134 and 1101 of the Amex Company Guide because the company has not yet filed its annual report on Form 10-K for the fiscal year ended November 30, 2007.
The company intends to file its Form 10-K as soon as its audited financial statements for fiscal year 2007 are completed.
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, or Bevo Beaven or Warren Laird of CTA Integrated Communications at (303) 665-4200.
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
SOURCE Galaxy Energy Corporation
dragon man
17 years ago
DENVER, March 17 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (Amex: GAX) and its wholly-owned subsidiary Dolphin Energy Corporation announced today that it has filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Colorado. The Company will remain in control of its assets and intends to continue to conduct business as usual while it devotes renewed efforts to resolve its liquidity problems and develops a reorganization plan.
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 or Bevo Beaven or Warren Laird of CTA Integrated Communications at (303) 665-4200.
CONTACT: Bevo Beaven, Warren Laird
CTA Integrated Communications
(303) 665-4200
SOURCE Galaxy Energy Corporation
Source: PR Newswire (March 17, 2008 - 9:59 AM EDT)
rjj50
17 years ago
MR dragon man did brad: JayHawk Energy Inc. Announces Signing of Purchase and Sale Agreement with Galaxy Energy Inc. for 16 Mile Pipeline and Adjacent 6,500 Acres Including 34 Gas Wells
BROOMFIELD, Colo. - (Business Wire) JayHawk Energy, Inc. (OTCBB:JYHW) (“JayHawk”) announces the signing of a Purchase and Sale Agreement with Galaxy Energy Inc., a private company, to purchase assets in the Crawford and Bourbon counties, Kansas, bringing 100% working interest in a sixteen (16) mile gas pipeline as well as the production within 6,500 acres of contiguous land adjacent to the pipeline for $2 million. The production consists of a modest 16BOEPD (100Mcf) of Coalbed Methane Gas from seven (7) connected wells out of thirty-four (34) wells. It is expected that there will be no debt to assume from the acquisition, and is scheduled to close on March 31, 2008, subject to terms and conditions of the Purchase and Sale Agreement.
“Our first step will be to dewater the 7 tied-in wells, and then connect the additional 27 wells on our way to maximizing production in this area,” stated Lindsay Gorrill, President & CEO of JayHawk Energy Inc. Gorrill added, “These assets combined with our Uniontown project significantly expand our South Eastern sector asset base as a 'core area' with the acreage positions adjacent to each other.”
The Company believes the acquisition brings needed infrastructure to the adjacent Uniontown project for its development. The purchase of the new acres added to current acreage in the Uniontown project provides over 4,100 drilling locations with a net interest of 100% to JayHawk Energy Inc.
“Extensive development potential coupled with extremely attractive economics follows our focus, and encourages further development through the drill bit and proper well management. We hope this will provide a great return to JayHawk and its shareholders, and move us closer to meeting the listing requirements of the major trading markets,” says Gorrill.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Examples of such disclosures would be statements regarding “probable,” “possible,” or “recoverable” reserves among others.
Management hopes these transactions will bring additional value to the shareholders of JayHawk Energy. There is no guarantee that the projects that JayHawk has recently acquired will increase the value of its shares of common stock, or that JayHawk will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of JayHawk’s common stock.
JayHawk Energy, Inc.
Lindsay Gorrill, President & CEO ive you this message today