August 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Kodiak Oil & Gas Corp. (KOG) said that it has received a warning letter from the NYSE AMEX LLC that Kodiak is not in compliance with sections of the NYSE AMEX company guide.

Specifically, the company said it was notified that it was not in compliance with Section 803A(1) of the Guide, in that its board of directors does not have a majority of independent directors, and Section 803B(2) (a) of the Guide, in that its audit committee is not comprised of at least three independent directors.

According to Kodiak, the non-compliance is a result of the resignation of Don A. McDonald from Kodiak's board of directors and committees.

Kodiak said it has until the earlier of its next annual shareholders' meeting or one year from McDonald's resignation to regain compliance with the applicable NYSE AMEX requirements.

The company said it is continuing its search for a replacement director and expects that it will appoint a replacement director within the foregoing time period and therefore regain compliance with the applicable listing standards.

Colorado-based Kodiak Oil & Gas is an independent energy exploration and development company focused on exploring, developing and producing oil and natural gas in the Williston and Green River Basins in the U.S. Rocky Mountains.

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [olgssglo] [rgltryrtl] [cmplncz] [gvrncnr] [ftrdnwswnd]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.