U.S. Energy Corp. Regains Full Compliance with Nasdaq Listing Standards
November 17 2017 - 07:00AM
U.S. Energy Corp. (NASDAQ:USEG) (the "Company")
announced that on November 15, 2017, the Company received a
notification letter from The Nasdaq Stock Market LLC (“Nasdaq”)
indicating that Nasdaq has determined that the Company has regained
compliance with the minimum bid price rule, as required by Nasdaq’s
decision dated November 3, 2017, and is in compliance with other
applicable requirements as set forth in the decision and required
for listing on The Nasdaq Stock Market. Accordingly, Nasdaq
has determined to continue the listing of the Company’s securities
on Nasdaq and is closing this matter.
David Veltri, U.S. Energy’s Chief Executive
Officer, stated, “We are happy to have achieved the listing
standard requirement and regained our full listing rights on the
Nasdaq Capital Market. This is the result of the hard work
and successful results the Company has achieved during the past
year to improve our financial condition and prepare us for growth
opportunities in 2018. As U.S. Energy has met the necessary
continued listing requirements prior to the previously announced
upcoming special meeting, we do not anticipate at this time
implementing a reverse split of the Company’s stock.”
About U.S. Energy Corp.
We are an independent energy company focused on
the lease acquisition and development of oil and gas producing
properties in the continental United States. Our business is
currently focused in the Williston Basin of North Dakota and South
Texas. We continue to focus on increasing production, reserves, and
cash flow from operations while pro-actively managing our debt
levels. More information about U.S. Energy Corp. can be found at
www.usnrg.com.
Forward-Looking Statements
This press release may include “forward-looking
statements” within the meaning of the securities laws. All
statements other than statements of historical facts included
herein may constitute forward-looking statements. Forward-looking
statements in this document may include statements regarding the
Company’s expectations regarding the Company’s operational,
exploration and development plans; expectations regarding the
nature and amount of the Company’s reserves; and expectations
regarding production, revenues, cash flows and recoveries. When
used in this press release, the words "will," "potential,"
"believe," "estimate," "intend," "expect," "may," "should,"
"anticipate," "could," "plan," "predict," "project," "profile,"
"model," or their negatives, other similar expressions or the
statements that include those words, are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. Such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of the Company, which may cause
actual results to differ materially from those implied or expressed
by the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to,
fluctuations in oil and natural gas prices, uncertainties inherent
in estimating quantities of oil and natural gas reserves and
projecting future rates of production and timing of development
activities, competition, operating risks, acquisition risks,
liquidity and capital requirements, the effects of governmental
regulation, adverse changes in the market for the Company’s oil and
natural gas production, dependence upon third-party vendors, and
other risks detailed in the Company’s periodic report filings with
the Securities and Exchange Commission.
Corporate Contact:
U.S. Energy Corp. Ryan SmithChief Financial Officer(303)
993-3200www.usnrg.com
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