Dune Energy, Inc. Receives Notice From NYSE Alternext US of Acceptance of the Company's Plan of Compliance Until June 15, 2010

HOUSTON, Feb. 18  /PRNewswire-FirstCall/ -- Dune Energy, Inc. (NYSE Alternext US: DNE) announced that the company was granted an extension until June 15, 2010 to regain compliance with the continued listing standards of the exchange.  The exchange notified the Company that they would be subject to periodic review during the extension period.

On December 15, 2008, as previously disclosed in a press release of December 19, 2008 and an 8-K of the same date, the Company received notice from the NYSE Alternext US ("the Exchange") indicating that the Company was not in compliance with certain conditions of the Exchange's continued listing standards under Section 1003 of the Company Guide.  Specifically, the Exchange noted the Company's failure to comply with (a) Section 1003(a)(i) of the Company Guide relating to stockholders' equity of less than $2,000,000 and losses from continuing operations and net losses in two out of its three most recent fiscal years; (b) Section 1003(a)(ii) of the Company Guide relating to stockholders' equity of less than $4,000,000 and losses from continuing operations and net losses in three out of its four most recent fiscal years; and (c) Section 1003(a)(iii) of the Company Guide relating to stockholders' equity of less than $6,000,000 and losses from continuing operations and net losses in its five most recent fiscal years. The notice was based on a review by the Exchange of publicly available information, including the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008.

The Company submitted a plan of compliance on January 13, 2009 detailing the steps anticipated in order to regain compliance with the listing standards which was accepted on February 17, 2009.

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FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-K filed with the U.S. Securities and Exchange Commission. 

DATASOURCE: Dune Energy, Inc.



CONTACT:  Investors, Steven J. Craig, Sr. Vice President Investor

Relations and Administration of Dune Energy, Inc., [phone]



Web Site:  http://www.duneenergy.com/ 

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