Aurora O&G Voluntarily Delists from NYSE Amex
Aurora Oil & Gas Corporation has given formal notice to NYSE Amex, LLC (the 'Exchange') of the Company's intention to voluntarily delist its common stock from the NYSE Alternext ('Alternext') market.
On April 9, 2009, the Company received a letter from the Exchange, which stated the following:
"The staff of the Exchange's Corporate Compliance Department (the "Staff") has determined based upon its review of publicly available information that Aurora Oil & Gas Corporation (the "Company" or "Aurora") does not meet certain of the Exchange's continued listing standards as set forth in Part 10 of the NYSE Amex Company Guide (the "Company Guide"; accessible at www.nyse.com/regulation), and the Company has therefore become subject to the procedures and requirements of Section 1009 of the Company Guide. Specifically, the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature."
These factors, together with the Company's internal objectives to pursue cost savings measures, have led Aurora's Board of Directors to pursue voluntary delisting from the Alternext and not take any action to maintain its Exchange listing. The Company will take appropriate actions for its common stock to be quoted on the OTC Bulletin Board.
Aurora anticipates that it will provide notification (Form 25) to the Securities and Exchange Commission on or around April 27, 2009. The Company further anticipates that the last day of trading of its common stock on the NYSE Alternext will be on or around May 6, 2009.
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- Aurora O&G Voluntarily Delists from NYSE Amex (Apr 15)