Cheniere Energy, Inc. to Begin Trading on the OTC Bulletin Board - Symbol: CHEX.Business Editors HOUSTON--(BUSINESS WIRE)--Dec. 13, 2000 Cheniere Energy, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHEXC) announced today that the Nasdaq SmallCap Market ("Nasdaq") notified the company after the close of business today that its common stock would be de-listed from the Nasdaq SmallCap Market effective at the open of business on December 14, 2000. Cheniere was advised that the Nasdaq Listings Qualifications Panel has chosen to de-list the company's shares because it was of the opinion that the company violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. Nasdaq's shareholder approval requirement with regard to the issuance of 2,620,508 shares of common stock in November and December 1999. The company believes it is in compliance with all the listing maintenance requirements of Nasdaq and plans to appeal the panel's ruling. Effective December 14, 2000, the Company's common stock will be listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "CHEX CHEX Confined Helium Experiment CHEX Channel Expanded ". The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale price and volume information in over-the-counter (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) equity securities. An OTC equity security generally is any equity that is not listed or traded on Nasdaq or a national securities exchange. Further information about the OTC Bulletin Board is available at www.otcbb.com Cheniere Energy, Inc. is an independent oil and gas company focused in and around the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . The company explores in the shallow Gulf of Mexico using regional 3D seismic data. Activities offshore Louisiana are conducted primarily through its 36.8% interest in privately-held Gryphon Exploration Company and its ownership of a 228 square mile proprietary 3D project. In Texas, the company is currently developing an exploration program offshore using 6,800 square miles A square mil is a unit of area, equal to the area of a square with sides of length one mil. A mil is one thousandth of an international inch. This unit of area is usually used in specifying the area of the cross section of a wire or cable. of recently licensed 3D data. Additional information about Cheniere can be found by calling the company's investor and media relations department at 888/948-2036 or by writing to chex@mdcgroup.com Except for the historical statements contained herein, this news release presents forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the company's business are set forth in the company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
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