Shares of Delta Petroleum (DPTR) were falling hard Monday morning after the company announced disappointing drill results in the Gray well. The six lowermost zones all demonstrated excellent pressure, but have not produced any gas. Higher zones in the well have outputted some gas, but the volumes were far lower than expected and still not past the point of economic feasibility.
Shares of Delta Petroleum were off more than forty percent following the company's announcement this morning.
And the Nasdaq Stock Market sent out letters on September 15th to companies in non-compliance with minimum bid price requirements for listing on the exchange. Those receiving letters this month included Pacific Ethanol (NASDAQ:PEIX), AltiGen Communications (ATGN) and Repros Therapeutics (NASDAQ:RPRX).
All three companies were trading sharply lower Monday morning, but shares of Repros Therapeutics falling the most, down almost eleven percent.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.