Cardero Receives Deficiency Letter from NYSE

Cardero Resource

reports that it has received a deficiency letter from the NYSE-MKT LLC ("NYSE-MKT" or the "Exchange"). This letter states that the Company is not in compliance with certain of the NYSE-MKT continued listing standards as set out in Part 10 of the NYSE-MKT Company Guide ("Company Guide") and has become subject to the procedures and requirements of Section 1009 of the Company Guide.Specifically, the Exchange has determined that the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature.In order to maintain its Exchange listing, the Exchange requires that the Company provide a plan ("Plan") to the Exchange addressing how it intends to regain compliance with Section 1003(a)(iv) of the Company Guide by August 9, 2013, including specific milestones, details related to any strategic