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SAN FRANCISCO, Aug. 16, 2013 (GLOBE NEWSWIRE) -- GeoPetro Resources Company (NYSE MKT:GPR) ("GeoPetro" or the "Company") announced today that its common stock will begin trading on the OTCQB Market commencing August 21, 2013. The move to OTCQB does not change the Company's SEC reporting obligations under applicable securities laws. Accordingly, the Company will continue to file its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
On August 12, 2013, the Company received a letter from NYSE MKT LLC ("NYSE MKT") advising the Company that the Exchange will suspend trading of the Company's common stock based upon the Company's continued non-compliance with Section 1003(a)(iv) of the Exchange's Company Guide. The Company may request a review of this decision by the full Committee on Securities. However, a request for review by the full Committee on Securities will not operate as a stay of the decision. Accordingly, the Exchange will suspend trading in the Company's common stock at the close of the market on August 20, 2013. The commencement of trading on the OTCQB on August 21, 2013 will allow for uninterrupted trading of the Company's common stock.
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GeoPetro is an independent oil and natural gas company headquartered in San Francisco, California. GeoPetro currently has projects in the United States and Canada. GeoPetro has developed an oil and gas property in its Madisonville Field Project in Texas. Elsewhere, GeoPetro has assembled a geographically-diversified portfolio of exploratory and appraisal prospects.