press release
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For
the
month of December
2006
Commission
File Number 0-29586
ENERNORTH
INDUSTRIES INC.
1
King
Street West, Suite 1502, Toronto, Ontario, M5H 1A1, Canada
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:
Form
20-F
X
Form
40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Yes
No
X
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7)
Yes
No
X
Note:
Regulation
S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if
submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant’s security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes
No
X
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b):
82-
_________
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
ENERNORTH
INDUSTRIES INC.
Date:
December 15, 2006 By:____”Sandra
J. Hall”____ ______
Sandra
J.
Hall,
President,
Secretary & Director
EnerNorth
Industries Inc.
News
Release
EnerNorth
notified by AMEX of Continued Listing Standards Non-Compliance; Company expects
its Common Shares to Remain Listed while it engages in AMEX Compliance
Process
Toronto,
Canada - December 15, 2006 - EnerNorth
Industries Inc.
(AMEX:
ENY & Frankfurt Stock Exchange: EPW1) (www.enernorth.com) (“EnerNorth” or
the “Company”) announces that on December 12, 2006 it received notice from the
American Stock Exchange (“AMEX”) that the Company does not meet certain
continued listing standards, specifically Section 1003(a)(i) of the Company
Guide with shareholders' equity of less than US$2,000,000 and losses from
continuing operations and/or net losses in two out of its three most recent
fiscal years, and Section 1003(a)(ii) of the Company Guide with shareholders'
equity of less than US$4,000,000 and losses from continuing operations and/or
net losses in three out of its four most recent fiscal years.
The
Company has the opportunity to submit a plan of compliance to the AMEX by
January 12, 2007 advising AMEX of the action the Company has taken, or will
take, that would bring it into compliance with the continued listing standards
listed no later than June 11, 2008. If AMEX accepts the plan, the Company
may be
able to continue its listing during the plan period of up to eighteen months,
during which time the Company will be subject to periodic review to determine
whether it is making progress consistent with the plan. If AMEX does not
accept
the Company's plan or if the Company does not make progress consistent with
the
plan during the plan period or if the Company is not in compliance with the
continued listing standards at the end of the plan period, AMEX may then
initiate delisting proceedings.
EnerNorth
intends to submit a plan to the AMEX on or before January 12, 2007.
In
June
2005 the Ontario Superior Court granted an Order (“Order”) recognizing and
enforcing in Ontario a US $5.6 million judgment that Oakwell Engineering
Limited
(a Singapore company) had obtained against the Company from the High Court
of
Singapore in August 2002. The Company appealed the Order to the Court of
Appeal
of Ontario, which dismissed the appeal.
On
September 8, 2006 the Company filed an application for leave to appeal the
Order
to the Supreme Court of Canada. The Company seeks leave to argue that the
Order
should not have been granted because Singapore does not adhere to the rule
of
law or provide independent and impartial tribunals as those concepts are
understood in Canadian law. The Supreme Court will only grant leave if it
is
persuaded that the case raises issues of public importance. The
Supreme Court's decision on the leave application is not expected until late
2006 or early 2007.
As
a
result of the Company recording the judgment (approximately CDN$7.8 million
as
of September 30, 2006) and the related legal costs, the Company’s shareholders’
equity is below AMEX’s continued listing standards.
EnerNorth
is a junior oil and gas company carrying out operations through production,
development and exploration of oil and gas in the Western Sedimentary Basin,
Canada.
There
are
approximately 4.293 million shares issued and outstanding in the capital
of the
Company.
For
further information contact:
Sandra
Hall
President
Telephone:
(416) 861-1484
www.enernorth.com
Certain
statements contained herein constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform
Act”), which reflect the Company’s current expectations regarding the future
results of operations, performance and achievements of the Company. The Company
has tried, wherever possible, to identify these forward-looking statements
by,
among other things, using words such as “anticipate,” “believe,” “estimate,”
“expect” and similar expressions. These statements reflect the current beliefs
of management of the Company, and are based on current available information.
Accordingly, these statements are subject to known and unknown risks,
uncertainties and other factors which could cause the actual results,
performance or achievements of the Company to differ materially from those
expressed in, or implied by, these statements. (See the Company’s Annual
Information Form and Annual Form 20 F for Risk Factors.) The Company is not
obligated to update or revise these “forward-looking” statements to reflect new
events or circumstances, unless required by securities law.
Suite
1502, 1 King Street West, Toronto, Ontario, M5H 1A1 Telephone: 416 861-1484,
Facsimile: 416 861-9623 www.enernorth.com