MarkWest Hydrocarbon Receives Compliance Letter From AMEX
16 Giugno 2005 - 1:00AM
PR Newswire (US)
MarkWest Hydrocarbon Receives Compliance Letter From AMEX DENVER,
June 15 /PRNewswire-FirstCall/ -- MarkWest Hydrocarbon, Inc.
(AMEX:MWP), today announced that it received a warning letter from
the American Stock Exchange ("AMEX") dated June 9, 2005, advising
that the Company is not in compliance with AMEX requirements as set
forth in Section 1101 of the AMEX Company Guide for failure to file
with the Securities and Exchange Commission its Annual Report on
Form 10-K for year ended December 31, 2004 and its Quarterly Report
on Form 10-Q for the first quarter of 2005 by the prescribed filing
deadlines. The compliance letter gives the Company until June 24,
2005 to submit a plan of action to bring the Company into
compliance and until July 11, 2005 to regain compliance with AMEX
requirements. The Company expects to submit its plan to AMEX on or
before June 24, 2005, and otherwise comply with all requirements
set forth by AMEX. The Company has been and continues to devote
substantial resources and is working with its outside auditors to
complete and file the Annual Report on Form 10-K for year ended
December 31, 2004, and in conjunction therewith its restated
financial statements, Forms 10-Q/A for the first three quarters of
2004, and its Quarterly Report on Form 10-Q for the first quarter
of 2005 as soon as reasonably possible, thereby restoring its
compliance with AMEX requirements. The Company's financial
statements are prepared on a consolidated basis with its
subsidiary, MarkWest Energy Partners, L.P. (the "Partnership"). As
the Partnership has indicated that it expects to file its Reports
in the near term, the Company should then be able to incorporate
such financial statements and finalize its consolidated Reports
within a reasonable period thereafter. MarkWest Hydrocarbon, Inc.
(AMEX:MWP) controls and operates MarkWest Energy Partners, L.P.
(AMEX:MWE), a publicly-traded limited partnership engaged in the
gathering, processing and transmission of natural gas; the
transportation, fractionation and storage of natural gas liquids;
and the gathering and transportation of crude oil. We also market
natural gas and NGLs. This press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical facts included or incorporated herein may constitute
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. The forward-looking statements involve risks
and uncertainties that affect our operations, financial performance
and other factors as discussed in our filings with the Securities
and Exchange Commission ("SEC"). Among the factors that could cause
results to differ materially are those risks discussed in our Form
10-K for the year ended December 31, 2003, and our Forms 10-Q for
2004, as filed with the SEC. DATASOURCE: MarkWest Hydrocarbon, Inc.
CONTACT: Frank Semple, President & CEO, or Jim Ivey, CFO, or
Andy Schroeder, VP and Treasurer, all of MarkWest Hydrocarbon,
Inc., +1-303-290-8700, Web site: http://www.markwest.com/
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