Blue Dolphin Energy Company Submits Compliance Plan for Nasdaq Hearing to Appeal Delisting

HOUSTON, April 16 /PRNewswire-FirstCall/ -- Blue Dolphin Energy Company (Nasdaq: BDCO) ("Blue Dolphin"), an independent oil and gas company with operations in the Gulf of Mexico, announced today that the NASDAQ Hearings Department acknowledged receipt of Blue Dolphin's compliance plan. The compliance plan addresses Blue Dolphin's blueprint to regain compliance for its minimum bid deficiency, as well as presents its plan to sustain long term compliance with all applicable maintenance criteria.

Last month, NASDAQ granted a written hearing to appeal delisting and will continue to list Blue Dolphin's common stock on the NASDAQ Capital Market pending a final decision from the NASDAQ Hearings Panel. The hearing has been scheduled for May 5, 2010.  

Blue Dolphin Energy Company is engaged in the gathering and transportation of natural gas and condensate and production of oil and gas in the Gulf of Mexico.  For further information visit the Company's website at http://www.blue-dolphin.com.

Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward-looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.  The words "expect," "plan," "believe," "anticipate," "project," "estimate," and similar expressions are intended to identify forward-looking statements.  These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, prices of crude oil and natural gas, regulatory changes, general economic conditions, interest rates, competition, and other factors.  Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE Blue Dolphin Energy Company