United Refining Energy Corp. Receives Approval of Compliance Plan From NYSE Amex



    NEW YORK, May 11 /CNW/ -- On May 4, 2009, the NYSE Amex notified United
Refining Energy Corp. (Amex:   URX) that it accepted the Company's plan of
compliance and granted the Company an extension until August 11, 2009 to
regain compliance with the continued listing standards of the Exchange.  The
plan of compliance was submitted by the Company to the Exchange in response to
the February 10, 2009 notice from the NYSE Amex LLC staff indicating that the
Company is below certain of the Exchange's continued listing standards in that
the Company held no annual meeting for stockholders in 2008 as set forth in
Section 704 of the Exchange's Company Guide.  The Company was afforded the
opportunity to submit a plan of compliance to the Exchange and on March 10,
2009 presented its plan to the Exchange.  The Company will be subject to
periodic review by Exchange staff during the extension period.  Failure to
make progress consistent with the plan or to regain compliance with the
continued listing standards by the end of the extension period could result in
the Company being delisted by the NYSE Amex LLC.
    


    




For further information:

For further information: James E. Murphy, Chief Financial Officer,
+1-212-956-5803

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UNITED REFINING ENERGY CORP.

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