Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

NASDAQ informed Glen Rose Petroleum Corporation in a letter dated October 8, 2009, that it was not in compliance with NASDAQ listing rule 5605 due to the resignation of Franz Skyranz as a director as reported on August 26, 2009 in that the Company no longer had three audit committee members as required by NASDAQ Rule 5605(c)(2)(A).

NASDAQ also stated that should the Company regain compliance with Rule 5605 by the earlier of the Company's next shareholder meeting or August 25, 2010, or, alternatively, if the next annual shareholder's meeting is held on or before February 21, 2010, compliance with 5605 is regained by February 21, 2010, no further delisting action will be taken. If the Company does not regain compliance with 5605 during this cure period NASDAQ staff will provide it with a delisting notice which may be appealed to the NASDAQ Listing Qualifications Panel.

Item 9.01 Financial Statements and Exhibits

Attached as Exhibit 9.01 is a press release dated October 9, 2009 relating to the notice of NASDAQ listing non-compliance referenced above in Item 3.01.