Houston American Energy Corp. said Feb. 7 that on Feb. 6, it was notified it continues to be in non-compliance with the NYSE MKT Exchange's continued listing standards, and its stock will continue listing pursuant to an extension.
The notification cited the company’s failure to maintain at least $6 million in stockholders' equity, coupled with reported net losses in its five most recent fiscal years. The notification also cited the continued trading of common stock at a low price.
The common stock will trade under the ticker “HUSA.BC” indicating non-compliance with listing standards.
NYSE Regulation granted Houston American Energy an extension to the cure period with respect to its stock price through February 28, 2017. If, by that time, the company is not in compliance with the continued listing standards, or no progress is made, delisting proceedings may begin, the press release said.
Recommended Reading
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.