Petroleum Development Granted Nasdaq Hearing to Present Plan to Regain Compliance
Energy company Petroleum Development Corp. said Wednesday it received a notice from the Nasdaq Stock Market granting its request for a hearing before the exchange’s listing panel.
The company said it will present its plan for regaining compliance with Nasdaq’s filing regulations at the hearing on May 10.
Petroleum Development Corp. said it is in the process of finalizing its financial statements and will try to file its 2006 annual report in late April or early May.
Petroleum Development shares rose 40 cents to close at $53.27 on the Nasdaq Stock Market.