Obsidian Energy receives continued listing standard notification from NYSE
Obsidian Energy announces that it received notification on September 14 from the New York Stock Exchange that Obsidian Energy is no longer in compliance with one of the NYSE's continued listing standards applicable to Obsidian Energy because the average closing price of Obsidian Energy's common stock was less than $1.00 per share over a consecutive 30 trading day period. As of September 12, the average closing price of Obsidian Energy's common stock over the preceding consecutive 30 trading day period was 99c per share. The issuance by the NYSE of the notification is not discretionary and is sent automatically when a listed company's stock price falls below the NYSE's minimum price listing standard. Obsidian Energy intends to notify the NYSE within 10 business days from the date of the NYSE notification that it intends to cure this price deficiency and return to compliance with the NYSE's price listing standard prior to the expiration of the applicable cure period or by the next annual general meeting. Obsidian Energy's common stock will continue to be listed and traded on the NYSE during the applicable cure period, subject to compliance with the NYSE's other continued listing standards, under the symbol "OBE", but the NYSE will assign a ".BC" indicator to the symbol to denote that Obsidian Energy is below the NYSE's price listing standard. This indicator will be removed at such time as Obsidian Energy is deemed compliant with the NYSE's price listing standard.