Galaxy Energy Corporation (fka GAX / GAXIQ)

[rjj50]

Mab will take ownership off phun within 6 month's/ then I would say that they will take over Gax in 10-12 month's !!!! what do you think ??????

[BIG BALLER]

WORD UP DAWG!!! FLIPPED DA SCRIPT LONG TIME AGO!!!*LOL*

Waiting for the OOOzzz then FIXING RE~UP ON MOMO KOOL~AID FOR THE RIDE TO DA MMOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOONNNN!!!!!

I LOVE THESE PINKZZZ!!!!!!*LMAO!*

:)

EZ!!!!

[dragon man]

do not think the stock going do anything untill some happen in 45 days.

[dragon man]

not much happen untill 45 days from now.

[dragon man]

sorry, i have hard time understanding your message. something will happen within 45 day.

[Pennybuster]

ROLL ME A FATTY KERMIE.. Man He has Staying Power.

[BIG BALLER]

GAX=MMUPPETZZZ "IN" SPACE!!!!*LOL*

;)

>>>U LARGE!!!!!

[Pennybuster]

PLEASE TAKE CARE OF KERMIT. HE'S LOOKING A BIT GREEN..

[BIG BALLER]

Gotta RUN!!! Chiefumm Kool-aid needs powwow smoke makumm peacepipe!*LOL*

:))

PEACE YO!!!!

[Pennybuster]

Ummmmmmmmm Chaka my Best Friend!!!!!

[BIG BALLER]

otizzo!!~>CHAKA SWIMS IN DAT KOOL-AID SWIMMING POOL MMOFO!!!!

:)

EZ!

[Pennybuster]

BooooooooooooooooooooooYaaaaaaaaaaaaahhhhhhhh!!!!!!!!!

[BIG BALLER]

dude dat bloody red chit making me laugh,,,MYYYYY GAWD!!! seeing colorzzz n' chit, what's up wit it caveman? Wha'chu put in duh kool-aid fo'??:))

>>>GAX TO DA MOONMOONMOONMOONMOONMOONMOON BIGDOG!!!!!


WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!


>>>BOOYAKKAHBOOYAKKAAAAA!!!!!>>BOOYAKKAHBOOYAKKAAAAA!!!!!>BOOYAKKAHBOOYAKKAAAAA!!!!!>>>BOOYAKKAHBOOYAKKAAAAA!!!!!>>BOOYAKKAHBOOYAKKAAAAA!!!!!>BOOYAKKAHBOOYAKKAAAAA!!!!!




;)

EZ!!!!!

[BIG BALLER]

if DDragoon MON sey so=ME LIKE$!!!

>>>DOLLA-DOLLAR BILL Y'ALLZZZ!!!!~jmho!~

;)

~>EZ!!!!

[dragon man]

think about this, the stock stay on amex and does good on the naturnal gas well . the stock could go back up, as 1 dollar and has money in the bank.

[BIG BALLER]

Strong hands here!*LOL*

$HORTZZZ GOTTA COVER!!!~JMO~

;)

>>>U LARGE!!!

[Pennybuster]

well i think it already has from the low. where it stops nobody knows.

[BIG BALLER]

So does GAX fly around in space or wha'cha tink dude?

:))

>>>WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!

[dragon man]

in 45 days we know if the company has a buyer for cbm properties. if so, they star drilling on natural gas wells again and start to grow again. can remember if natural gas wells need to be connected to sales line or not.

[Pennybuster]

LARGE LIKE BEAR :)

[BIG BALLER]

GOOD STUFF!!!STRONG!!!OH YEAH!!!!!:))

>>>.OOOZZZP!NK$HEET$ *LOOK OUT* HERE WE COME!!!!!!!
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!

;)

>>>U LARGE!!!!

[dragon man]

the stock close up 2 cents today. we at 6 cents.

[dragon man]

talk to brad an hour ago. they made have have deal in t5he work. in 45 days we know something out. at this point it does not matter if gax go back to pink sheet bb or stays on amex. if they had a buyer , then they want stay on amex. i bought some more stock in the company when it was below 4 cents. a million share trade that day.

[dragon man]

going call brad after iget off investor board.

[Pennybuster]

ONE CUP COMIN UP!!!!!!!!!!

[BIG BALLER]

Pour me s'MMore kool-aid bo$$!!!*LOL*

?~:)

EZ!!!!

[dragon man]

did you see the news release to day. gax is file to not get delisted from amex. i did get call back from brad to day. will try tomorrow.

[dragon man]

i going call brad today and talk to him about company and see what kind insight i can get from him on what going happen next. they have been able to sell the cbm reserves yet and thatbwhat probem is. brad said no body what to pay the correct price for the reserve, everybodey want fire sale price.

[dragon man]

deli sting from amx. i been expecting this from some time. mark does have true plan to reorganize the company. the word i herd was that people want to pay fire sale price for the property being put up for sale.
bard does know what going happen to gax when they sale these properties. the new gas properties are good and help us being good company again and go back to amex.

[dragon man]

i tal to bard long all the time and i get my infor from him. a trust that for mark brother and sister and mark is making the loan each month to gax to pay there billes, aka bank loans or to who every they own money to. i never under stood why gax never start to dewater the rest of the coal wells. i know it take up two years to completly get water out coal, but at some point, gas start coming out of the coals before all the water is gone. these well last 30 to 40 years life.

[dragon man]

i been in it fro long time and just have posted. i hate to say what i paid for it.

[jake89]

Looks to me that it was actually
at 0.0325 on 01/01/2008
by:
COLLINS NATHAN C
JAMES EDWARDS
FETTERS ROBERT THOMAS
TROUT RONALD PAUL

[rjj50]

mabe you should know that 4 people in gax has bought 60,000. @.04

[jake89]

Is anyone still in this?

[mistaice]

any new thoughts on this?

[Teamlasvegas]

.10

Amex Accepts Galaxy Energy's Plan to Meet Amex's Continued Listing Standards
Monday 08/13/2007 9:00 AM ET - PR Newswire

Galaxy Energy Corporation (Amex: GAX) has received a notice from the American Stock Exchange (Amex) indicating that Amex has accepted Galaxy's plan to regain compliance with the exchange's continued listing standards.

On August 6, 2007, Amex notified Galaxy that the company had made a reasonable demonstration of its ability to regain compliance with the exchange's continued listing standards. Amex has accepted Galaxy's plan based on the expectation that Galaxy will complete its Purchase and Sale Agreement with PetroHunter Energy Corporation, a related party, and has continued Galaxy's listing pursuant to an extension until September 30, 2007, by which time Galaxy must regain compliance with the continued listing standards. Galaxy will be subject to periodic review by Amex staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in Galaxy being delisted from Amex.

Galaxy announced on May 25, 2007, that it had received notice from Amex of Galaxy's failure to satisfy Section 1003(a)(iii) of the Amex Company Guide for continued listing. Specifically, Galaxy's stockholders' equity as reported on Form 10-Q for the quarter ended February 28, 2007, did not meet the minimum stockholders' equity standard of $6 million with losses from continuing operations and/or net losses in its five most recent fiscal years.

On June 22, 2007, Galaxy submitted a plan to Amex, to advise the exchange of action the company has taken, or will take, to bring Galaxy into compliance with all of Amex's continued listing standards. These actions include the proposed sale of Galaxy's oil and gas assets in the Powder River Basin to PetroHunter Energy Corporation, a related party.

The August 6, 2007, Amex notice also indicated that Galaxy is not in compliance with Section 1003(a)(i) and Section 1003(a)(ii) of the Company Guide based on a review of the company's Form 10-Q for the period ended May 31, 2007. Specifically, Galaxy reported stockholders' equity of less than $2 million and losses from continuing operations and/or net losses in its two out of its three most recent fiscal years, and stockholders' equity of less than $4 million and losses from continuing operations and/or net losses in its three out of its four most recent fiscal years, respectively.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, focuses its operations in the Powder River Basin of Wyoming and the Piceance Basin of Colorado, in addition to exploration activities in Germany and Romania. Galaxy conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

Forward Looking Statement

This press release consists of forward looking statements regarding the intent, belief or current expectations of Galaxy and its management. Prospective investors are cautioned that any such forward looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward looking statements. Galaxy assumes no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise. Please refer to Galaxy's filings with the United States Securities and Exchange Commission for discussions of risks and uncertainties found in Forms 10-K (annual report), 10-Q (quarterly report) and other filings.

Additional information may be found at the Galaxy Energy Corporation Web site, http://www.galaxyenergy.com or by calling Brad Long, Investor Relations/Galaxy Energy at [phone], Bevo Beaven or Warren Laird of CTA Integrated Communications at [phone], or Tina Cameron, Renmark Financial Communications at [phone].

CONTACT: Brad Long / Investor Relations Bevo Beaven, Sr. Vice President/GM Galaxy Energy Warren Laird, Vice President [phone] CTA Integrated Communications [phone] [phone]
SOURCE Galaxy Energy Corporation

Brad Long, Galaxy Energy Investor Relations, [phone], 1-800-574-4294; or Bevo Beaven, Sr. Vice President-GM or Warren Laird, Vice President CTA Integrated Communications, [phone], for Galaxy Energy Corporation http://www.galaxyenergy.com

[JRyan]

Any news on this one?

[jsc52033]

anyone here know how muchoil leases are currently going for in the Powder River Basin? TIA

[Golden Cross]

Galaxy Energy Q3 loss widens
Mon Oct 16, 2006 3:02pm ET
Market View
GAX (Galaxy Energy Corp )
Last: $0.30
Change: +0.01 (+3.45%)
Revenue (ttm): $1.6M
EPS: -0.41
Market Cap: $19.91M
Time: 11:21am ET



Stock Details
Company Profile
Analyst Research
Company News:
TABLE-Galaxy Energy Q3 loss widens
Galaxy Energy says revises terms of property sale
Galaxy Energy plans to sell Piceance Basin properties
More Company News... Email This Article | Print This Article | Reprints [-] Text [+]
Oct 16 (Reuters) -

GALAXY ENERGY CORP. (GAX.A: Quote, Profile, Research)

Latest Yr ago qtr Loss (diluted, $/shr) 0.09 0.06 Net loss ($ million) 6.4 3.8 Natural gas sales

($ thousands) 281,559 323,313



--For the latest third- quarter, one analyst had expected the company to report loss of 8 cents a share, excluding any exceptional items, according to Reuters Estimates. (Reporting by Sanjay Vijayakumar in Bangalore) ((Editing by Hari Govind; Reuters Messaging

[Pennybuster]

i believe this one goes back to a buck. 50m deal to be done this month.


:)

[Golden Cross]

Galaxy Energy to Exit Gas Project
Tuesday August 1, 10:21 am ET
Galaxy Energy to Sell Its Stake in Colorado Natural Gas Project to Exxel Energy for $50M


NEW YORK (AP) -- Galaxy Energy Corp., a developer of coalbed methane and other natural gas properties, on Tuesday said it plans to sell its 25 percent stake in a Colorado natural gas project to Exxel Energy Corp., a Canadian oil and gas developer, for $50 million.
Denver-based Galaxy said that Exxel Energy's subsidiary, Exxel Energy USA Inc., would acquire the stake. The project, known as Rifle Creek in Garfield County, comprises three wells and about 6,000 acres.

The companies will negotiate an agreement over the next several weeks, they said.

Shares of Galaxy were up 3 cents, or 6 percent, to 50 cents, in morning trading on the American Stock Exchange.

[Powr2dpeepl]

— CTA Public Relations and Galaxy Energy Corporation received a gold Vision award from the League of American Communications Professionals (“LACP”)

This year’s annual report for Galaxy Energy Corp. proves to be remarkable in light of tremendous competition,” said Christine Kennedy, LACP Managing Director. “This competition drew more than 1,900 submissions from 16 countries, so competition was exceptionally tough. Winners demonstrated an outstanding focus on shareholders, their interests, and their need to understand the strategic and tactical decisions their companies are making.”


That would be funny as hell if they weren't trying to say it with a straight face!

[Golden Cross]

Galaxy Energy Provides Financial and Operational Update
Tuesday July 11, 7:00 am ET


DENVER, July 11 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (Amex: GAX - News) announced today that it has negotiated modifications in the terms of its credit agreements with one of its lending groups, among other things to defer cash payments due in August and September of 2006 to October 1, 2006. The Company also announced that, pursuant to its business plan as submitted to the American Stock Exchange, it has engaged Meagher Oil & Gas Properties, Inc. to assist the Company with the sale of certain non-core assets consisting primarily of undeveloped properties in the Powder River Basin of Montana and Wyoming, and its properties in East Texas. The Company is also discussing with other entities, including affiliated companies, additional options related to the rationalization of its asset base, incremental financings and possible business combinations. As of this date, however, no agreements or understandings have been reached as a result of these discussions. The Company also provided an update on its activities in the Piceance Basin in Colorado.
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Waiver and Agreement with Senior Secured Convertible Note Holders

On July 7, 2006, the Company and the holders of its senior secured convertible notes issued in 2004 and 2005 entered into a Waiver and Agreement. Galaxy had notified the holders of the 2004 Notes of an Equity Liquidity Test Failure on July 3, 2006, as defined in its agreements with the holders, triggering the holders' right to make an early repayment election in the aggregate amount of $1,217,929.

In the Waiver and Agreement, Galaxy and the holders agreed to the following:


* The waiver of the holders' right to make an early repayment election as
a result of the July 2006 Equity Liquidity Test Failure and any Equity
Liquidity Test Failure as of August 1, 2006 and/or September 1, 2006;

* The deferral of the August 2006 and September 2006 installment payments
on the 2004 Notes until October 2, 2006, unless earlier converted by the
holders;

* The ability of the holders to convert up to $5,000,000 in principal
amount of the 2004 Notes, plus related interest, at their option as a
"Company Alternative Conversion" under the Notes through September 30,
2006, with the amounts converted to be applied first to the August 2006
installment payment, second to the September 2006 installment payment,
and then to those installments nearest to the maturity date of the 2004
Notes; and

* The waiver of Galaxy's right to prepay any part of the 2004 or 2005
Notes.

The Piceance Basin
The Company controls approximately 6,000 (1,500 net) undeveloped acres in the Piceance Basin through its wholly owned subsidiary, Dolphin Energy Corporation and in partnership with Exxel Energy Corp.

The Company currently has drilling or completion activities underway on four of its operated wells in the basin.

In the Biscuit Ranch 10-31D well, all completed zones within the overall interval from 7294' to 8462' have now been commingled, 2 3/8" production tubing has been installed, and fracture treatment fluids have been partially recovered while flaring gas coming from the well. Flow periods to recover additional remaining treatment fluids (approximately 2500 barrels) are continuing. The Company is currently preparing to move in a completion rig to lower the tubing string, check for sand fill across perforated and treated intervals and continue flowing the well to complete clean up. The Company has a 25% working interest in this well.

Completion activities are underway in the Mulvihill 15-32D well, with the fracture treatment design having been completed for the initial perforated zones within the overall interval from 8514' to 8818'. Breakdown of each zone with acid utilizing packer and tubing is underway in preparation for the first fracture stimulation to be performed down 4 1/2" production casing. The Company will have an 18.75 to 25% working interest in this well, depending upon a participation election by an unrelated working interest owner.

The Purkey Ranch 13-31B well has reached a total depth of 9373'. The Company is currently preparing to run open hole wireline electric logs and then 4 1/2" production casing. The Company has a 25% working interest in this well.

The Company is currently drilling the BR 03-03B Biscuit Ranch directional well. 8 5/8" surface casing has been set and cemented to a depth of 1150' and this well is currently drilling ahead below 2600'. The Company has a 25% working interest in this well.

At this time, Galaxy reports that it is too early to know what flow rates to expect with respect to any of these wells.

In addition, the Company through Dolphin has varying working interests in several non-operated wells. These non-operated wells currently include one producing well operated by Williams Production RMT Company, two wells operated by Bill Barrett Corporation which are in the completion phase, as well as one well in the completion and evaluation phase, which is operated by Antero Resources Company.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, is focusing on acquiring and developing coalbed methane in the Powder River Basin of Wyoming and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany and Romania. The Company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

[Golden Cross]

Galaxy Energy Provides Corporate and Operational Update
Monday June 19, 11:14 am ET
* Amex grants extension to meet continued listing standards
* Company will place non-core Powder River assets for sale
* 10-acre spacing approved in the Piceance Basin
* Drilling of third well in Piceance Basin ahead of schedule


DENVER, June 19 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (Amex: GAX - News) announced today an update of its status with the American Stock Exchange and its drilling activities in both the Piceance Basin and the Powder River Basin.
ADVERTISEMENT




American Stock Exchange

The Company has received notice from the American Stock Exchange that, although it is not now in compliance, the business plan submitted by the Company on May 12, 2006 "makes a reasonable demonstration of the Company's ability to regain compliance with the continued listing standards" of the Exchange. The Exchange has given the Company an extension until July 24, 2006 to implement portions of the business plan sufficient to convince the Exchange that, in fact, it has regained compliance with the Exchange's continued listing requirements.

As an important facet of its business plan, the Company has determined to sell certain of its properties in the Powder River Basin and other areas which it considers non-core, that is, properties on which it does not plan to commence development activities within the next two fiscal years. The Company will make further releases as it identifies with the help of its advisers specific properties for sale.

As additional parts of its plan, the Company will aggressively pursue operations in the Piceance Basin and selected areas of the Powder River Basin. The Company's progress with these operations is updated below.

The Piceance Basin

The Company controls approximately 6,000 (1,500 net) undeveloped acres in the Piceance Basin through its wholly owned subsidiary, Dolphin Energy Corporation and in partnership with Exxel Energy Corp. The Company has received permits to drill on 10-acre spacing in its areas of current operation and will apply for approval to drill on 10-acre spacing throughout most of its acreage position.

Although the Company experienced delays in the drilling of its first well, in the Piceance Basin, it has met its drilling timeline on the second well and is currently ahead of its drilling schedule on the third well.

The first well, the Biscuit Ranch 10-31D well, in which the Company has a 25% working interest, was spudded on January 25, 2006. Drilling of the well took longer than originally anticipated due to a variety of reasons and it took 55 days for the well to be drilled to a target depth of 9,250 feet. Completion operations and testing are now underway with three fracture treatment stages having already been completed. Fracture treatment fluids are currently being recovered from these stages and gas flow tests will be conducted within the next few days. Test results will be announced when the tests are complete. A possible fourth stage treatment may also be done on this well once the flow rate from the first three stages is known.

The second well, the Mulvihill 15-32D well, in which the Company will have an 18.75 to 25% working interest, depending upon a participation election by an unrelated operator, was drilled to a depth of 10,010 feet within the planned drilling time of 27 days. Completion intervals are being selected, and fracture treatment stimulations are being designed based on the results of the work completed to date in the first well.

Drilling for the third well, the Purkey Ranch 13-31B well, in which the Company has a 25% working interest, is moving ahead at an accelerated pace. The well was spudded on May 29, 2006 and has been drilled to a depth of 8,134 feet in only 20 days from the commencement of drilling operations. Target depth of 9,300 feet is anticipated to be reached within four days.

In addition to the interests owned in these three operated wells, the Company through Dolphin has varying working interests in additional non- operated wells. These non-operated wells include one producing well operated by Williams Production RMT Company, two wells operated by Bill Barrett Corporation with one in the completion phase and the other well drilling, as well as one well in the completion and evaluation phase, which is operated by Antero Resources Company.

The Company has identified five additional operated well locations which are fully permitted with drilling pads completely constructed and ready for a drilling rig. Three additional individual well locations are in various stages of permitting, and seven more locations are identified and planned for immediate permitting to continue development of an inventory of drilling locations for the ongoing drilling program.

To assist in the accelerated drilling program outlined above, the Company has contracted for the use of a second drilling rig, which is now being transported to the site of the BR 03-03B Biscuit Ranch well, in which the Company has a 25% working interest. It is believed that drilling of this well can start by the end of June. The rig will be shared with another operator and it is uncertain at this point what its availability to the Company will be after the BR 03-03B well is drilled.

The Powder River Basin

In Sheridan County, Wyoming, dewatering operations continue from the Company's Pipeline Ridge completed producing wells. Increased water handling capacity is planned for this area with the implementation of a managed irrigation project on adjacent private property, which will include installation of at least three center pivot sprinkler units. Based on the results of the Pipeline Ridge project, the same approach for handling of increased produced water volumes will be considered for the Leiter and Ucross areas of Sheridan County, where the Company currently has 49 wells in various stages of completion with inadequate water handling capacity for the projected dewatering rates.

The Company's producing wells located on the eastern side of the Wyoming portion of Campbell County continue to generate production and gas sales, currently at the rate of 825 mcf per day.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production Company, is focusing on acquiring and developing coal bed methane in the Powder River Basin of Wyoming and Montana and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany, Romania and Texas. The Company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

[Golden Cross]

Galaxy Energy Submits Comprehensive Plan to Meet Amex Continued Listing Standards
Thursday May 11, 5:41 pm ET


DENVER, May 11 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (Amex: GAX - News) announced today that it has submitted a comprehensive plan to the American Stock Exchange (Amex) which details actions it has taken, or will take, to achieve compliance with Section 1003(a)(iv) of the Company Guide for continued listing on the Amex by July 24, 2006.
ADVERTISEMENT


The plan includes the raising of $4.5 million in Subordinated Convertible Debenture financing that Galaxy announced on April 26, 2006. The Amex was unaware of the completion of that financing at the time it sent notice to Galaxy that the Company did not meet one of the Amex's continued listing standards.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, is focusing on acquiring and developing coalbed methane in the Powder River Basin of Wyoming and Montana and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany, Romania and Texas. The company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

[Golden Cross]

who is updating this board?

[Golden Cross]

Galaxy Energy Announces Completing a $4.5 Million Financing
Wednesday April 26, 6:00 am ET


DENVER, April 26 /PRNewswire-FirstCall/ -- Galaxy Energy Corporation (Amex: GAX - News) announced today that it has closed a $4.5 million private placement of Subordinated Convertible Debentures with institutional and other accredited investors.
ADVERTISEMENT


The Debentures are subordinated to the Company's previous senior financings, have a 30-month maturity, which will extend under the terms of the financing until all of the Company's senior debt has been retired, accrue interest at 15% per annum and are payable at maturity. In the event the Debentures are retired at maturity, the holders are entitled to an additional payment equal to the sum of 25% plus 0.75% for each month (or part thereof) in excess of 30 months that the Debentures have remained outstanding. The Debentures are convertible into 2,884,615 shares of common stock based on a conversion price of $1.56 per share. In addition purchasers of the Debentures received three-year warrants which allow the holders to purchase 865,383 shares of common stock at $1.60 per share.

The majority of the proceeds from the financing will be used to reduce debt as well as other corporate purposes.

Galaxy plans to continue its efforts to raise additional funds for its exploration and development activities.

About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, is focusing on acquiring and developing coalbed methane in the Powder River Basin of Wyoming and Montana and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany, Romania and Texas. The company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

[Golden Cross]

Galaxy Energy Reports Receiving an AMEX Notice Indicating That the Company Does Not Meet One of the Exchange's Continued Listing Standards
Wednesday April 26, 1:12 pm ET


DENVER, April 26 /PRNewswire-FirstCall/ -- On April 25, 2006, Galaxy Energy Corporation (Amex: GAX - News) received a notice of failure to satisfy Section 1003(a)(iv) of the American Stock Exchange ("AMEX") Company Guide for continued listing on AMEX. Such notice is a result of the recent losses that Galaxy has sustained, as well as its significant working capital deficiency as reported in its quarterly report on Form 10-Q for the quarter ended February 28, 2006. Galaxy expects to submit a plan to AMEX by May 10, 2006, in which it will advise AMEX of action it has taken, or will take, that would bring it into compliance with Section 1003(a)(iv) of the Company Guide by July 24, 2006. The actions taken, or to be taken, by Galaxy which will be reported to AMEX include the raising of $4.5 million in Subordinated Convertible Debenture financing that the Company announced this morning. The AMEX was unaware of the completion of that financing at the time it sent its notice to the Company indicating that the Company does not meet one of the AMEX's continued listing standards.
ADVERTISEMENT


About Galaxy Energy

Galaxy Energy Corporation, a development stage oil and gas exploration and production company, is focusing on acquiring and developing coalbed methane in the Powder River Basin of Wyoming and Montana and other unconventional natural gas properties in the Piceance Basin of Colorado, in addition to exploration activities in Germany, Romania and Texas. The company conducts its exploration activities through two wholly owned subsidiaries, Dolphin Energy Corporation and Pannonian International, Ltd.

[theleakers]

dude, you have to change your chart link to GAX from GAXI !!!

[mberto]

Hello