HOUSTON, March 15, 2005 (PRIMEZONE) -- Transmeridian Exploration, Inc. (OTCBB:TMXN) today announced that it has received approval for listing of its common shares on the American Stock Exchange ("AMEX"). The Company expects that its shares will commence trading on the AMEX, under the symbol TMY, on Monday, March 21, 2005. The Company's common shares are currently traded on the Over the Counter Bulletin Board.
"The listing of our shares on the AMEX reflects the progress we have made in building Transmeridian," commented Lorrie T. Olivier, President and Chief Executive Officer. "We believe that shareholders will benefit from, among other things, improved liquidity in the stock and a higher overall profile for the Company."
The approval to list on the AMEX is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
Transmeridian Exploration, Inc. is an independent energy company established to acquire and develop oil reserves in the Caspian Sea region of the former Soviet Union. TMXN primarily targets medium-sized fields with proved or probable reserves and significant upside reserve potential. Its first major project is the South Alibek Field in Kazakhstan.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created therein. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2003. Although Transmeridian Exploration, Inc. believes the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion herein should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.