Macro Tsimmis

intelligently hedged investment

Transmeridian (TMY) update #21

Posted by intelledgement on Fri, 30 May 08

Well, we are not the only folks paying attention to the SEC filings of Transmeridian, our poorly performing Kazakhstani-centric E&P. The company announced yesterday that the AMEX—based on an analysis of the company’s 2007 10-Q filed earlier this month—has concluded that TMY “is not in compliance with certain of the AMEX’s continued listing standards,” and has until 5 June to file a plan for getting back into compliance.

If the AMEX folks are not satisfied, they can initiate a delisting process which would likely result in the stock being banished to the OTC bulletin board. This could make the stock a bit harder to trade but unless management gets their act together soon, interest in trading this stock is likely to decline regardless, if it even continues to exist.

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