Capital City Energy Group Incorporated announced August 6, 2008 that it has applied for listing of its shares of common stock on the American Stock Exchange LLC (AMEX). The Columbus, Ohio based company is an oil and natural gas company that has grown a reputation for being a leader amongst a very select group of vertically integrated oil and natural gas companies. Their strategy is to continue to grow a portfolio of core areas that provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.
Timothy W. Crawford, Chief Executive Officer of Capital City Energy, said, “The submission of our application to the AMEX is an important step in gaining greater exposure in the investment community.” Crawford also added, “We believe that the listing of our common stock on the AMEX will enhance shareholder liquidity and value, building on the Company’s accomplishments in the short time it has been public.”
The move from the OTC bulletin board to the American Stock Exchange would represent a significant confidence boost for skeptical investors. Management at Capital City Energy believes that it meets the quantitative standards for original listing under the standards listed in the Amex Company Guide. With additional investor confidence the company, which currently has a $90 million market cap, hopes to gain extra funding from eager investors.
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