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.
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