AMEX Reviewing Listing Eligibility of United States Exploration.DENVER--(BUSINESS WIRE)--Aug. 26, 1999-- United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Exploration, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. : UXP UXP User Experience UXP User eXtension Protocol UXP Unequal Erasure Protection UXP Unexplained Phenomena ) announced today that it has been notified by the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (AMEX AMEX See: American Stock Exchange ) that UXP has fallen below certain of the exchange's listing guidelines and, as a result, the exchange is reviewing the company's listing eligibility. The review process allows the company to meet with the AMEX to present information in support of continued listing. Such a meeting has been scheduled for Thursday, September 16, 1999. UXP expects that the meeting with the AMEX will focus primarily on the status of its discussions with its bank regarding the restructuring of its outstanding loan. UXP previously reported that a restructuring of its outstanding bank debt would potentially include a combination of a reduction in the face amount of the loan and a conversion of a portion of the loan to subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and/or some form of equity. This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 concerning the results of its negotiations with its bank. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that expected results will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include market risks, risks related to the need to negotiate agreements with the company's bank and other financial institutions and other risk factors as described in the company's 1998 Form 10-KSB and second quarter 1999 Form 10-QSB as filed with the Securities and Exchange Commission. United States Exploration, Inc. is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company's principal reserves and producing properties are located in northeast Colorado. The company's common stock trades on the American Stock Exchange under the symbol UXP. |
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