Posted by: Bricolage April 20, 2007
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JED Gets Amex Hldrs-Equity Rule Warning; Enters Wells Pact DOW JONES NEWSWIRES April 19, 2007 2:14 p.m. DOW JONES NEWSWIRES JED Oil Inc. (JDO) said Thursday that it received notice from the American Stock Exchange that it wasn't in compliance with shareholder-equity requirements. The Calgary, Canada, energy company said it will file a plan by May 14 to bring it into compliance with the rules, which require the company have at least $2 million in shareholders equity or to not have sustained losses in two out of three of its most recent fiscal years. JED also said Thursday that its U.S. unit agreed to drill seven natural gas test wells in Utah as part of a farmout agreement. The company will pay 90% of the costs for the test wells to earn a 45% working interest in the wells and their spacing units
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