TMYEQ Transmeridian Exploration Inc. (TMYE): Stock Quote & Company Profile - BusinessWeek featured news, full reports, and detailed charts
Transmeridian Exploration Inc. (TMYE): Stock Quote & Company Profile - BusinessWeek (TMYEQ/TMYEQ.PK) Wrap Up:
Transmeridian Exploration Incorporated engages in the acquisition, development, and production of oil and natural gas primarily in Kazakhstan and southern Russia. Its principal oil and gas property is the South Alibek Field in the Republic of Kazakhstan, covered by license 1557 and the related exploration and production contracts. The license covers an area of approximately 14,111 acres. As of December 31, 2007, its net proved reserves were 58,571,296 barrels of oil. The company was founded in 2000 and is headquartered in Houston, Texas. On March 20, 2009, Transmeridian Exploration Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas. The plan was later approved as Chapter 11 liquidation on August 4, 2009.Transmeridian Exploration Inc. (TMYEQ:OTC)
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Key developments for Transmeridian Exploration Inc. (TMYEQ)
Effective March 25, 2009, Transmeridian Exploration Inc. will change its OTCPK stock ticker symbol to TMYEQ from TMYE.
On February 17, 2009, Earl W. McNiel, Vice President and Chief Financial Officer of Transmeridian Exploration Inc. resigned from his position as Vice President and Chief Financial Officer of the Company and from all positions with the Company’s subsidiaries. Mr. McNiel’s resignation is effective as of February 17, 2009. In connection with his resignation, Mr. McNiel has agreed to provide consulting services as requested by the Company for up to four months following his resignation and the Company has agreed to compensate Mr. McNiel for such consulting services, subject to certain conditions, at his current rate of pay during such period of time.
NYSE Alternext US LLC announced that its final determination to remove the common stock of Transmeridian Exploration Incorporated from listing on the Exchange, and filed an application on Form 25 to strike the Securities from listing with the U.S. Securities and Exchange Commission. The delisting will become effective on January 26, 2009, unless postponed by the SEC. The Exchange provided notice to Transmeridian Exploration Incorporated of the decision to delist the Securities and an opportunity to appeal the decision to a committee of the Board of Directors of NYSE Regulation.
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