JED Oil Inc. (NYSE Alternext: JDO) (“JED” or the “Company”) today
announced that it has received a notice dated January 7, 2009 from NYSE
Alternext US LLC (the “Exchange”, formerly the American Stock Exchange),
that the Company’s appeal to a Listing Qualifications Panel of the
Exchange’s Committee on Securities (the “Panel”) of the previously
announced determination by the staff of the Corporate Compliance
Department of NYSE Regulations, Inc. to prohibit the continued listing
of JED’s common shares on the Exchange and to initiate delisting
proceedings has been denied, and the Panel unanimously affirmed the
determination to delist the common shares of JED. The notice further
stated that the Exchange will suspend trading of the Company’s common
shares as soon as practical in accordance with the Exchange rules, and
file an application with the Securities and Exchange Commission of the
United States to strike JED’s common shares from listing and
registration on the Exchange.
The Company has 15 days from January 7, 2009 to request an appeal of the
full Committee on Securities, and if that appeal is denied, to appeal
the decision by the Committee on Securities to the Board of Directors of
the Exchange. JED does not intend to request a further appeal.
JED expects its common shares to begin to trade on the OTC Bulletin
Board shortly after being delisted from the Exchange. The Company will
make a public announcement about the stock symbol it will be assigned on
the OTCBB as soon as it is determined.
About JED Oil Inc.
Established in September 2003, JED Oil Inc. is an oil and natural gas
company that commenced operations in the second quarter of 2004 and
develops and operates oil and natural gas properties in western Canada
and the Rocky Mountain states in the United States.
This press release contains forward-looking statements. The words
“proposed”, “anticipated” and “scheduled” and similar expressions
identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies which could cause actual results to differ materially from
the future results expressed or implied by the forward-looking
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations. Factors
that may affect future results are contained in JED’s filings with the
Securities and Exchange Commission (“SEC”), which are available at the
SEC’s Web site (http://www.sec.gov)
and JED’s filings with the Alberta Securities Commission, which are
available at the Web site (http://www.SEDAR.com).
JED is not under any obligation, and expressly disclaims any obligation,
to update, alter or otherwise revise any forward-looking statement,
whether written or oral, that may be made from time to time, whether as
a result of new information, future events or otherwise.