China Daqing Petroleum Appoints NUWA Group LLC. as IR Advisor
OREANDA-NEWS. August 10, 2011. China Daqing M & H Petroleum Inc. (otcqb:CHDP) (the "Company" or "China Daqing"), engaged in the extraction and sale of crude oil, resale of oil drilling equipment and accessories, and oilfield underground technology services, announced that it has selected NUWA Group as the Company's investor relations advisor.
Linan Gong, China Daqing's Chief Executive Officer and Secretary, commented, "As a growing company, we were looking for an investor relations advisor that has a history of working with developing businesses and maintains solid relationships within the investment community. We believe that NUWA fits our needs perfectly. With NUWA's expertise in branding and corporate communications, we are confident that our profile and connections to the capital markets will be enhanced significantly."
"Working with China Daqing is an exciting opportunity for us," said Kevin Fickle, NUWA's President. "The Company's primary customer--PetroChina--is the largest crude oil supplier in China. Furthermore, China Daqing is expanding and improving its operations, as the Company has acquired 30 new wells and reengineered 19 of its existing wells to enhance productivity in the past year. China Daqing's developmental efforts have helped the Company achieve tremendous financial growth recently. Its revenues, net sales and gross profit all improved during the six months ended March 31, 2011 when compared to the same period last year. By putting forth an effective marketing plan and building a solid shareholder base for the Company, we believe that we can help China Daqing maintain its progress."
About China Daqing M & H Petroleum Inc.
China Daqing is engaged in the development of oil wells and extraction of oil from the Miao 14 oilfield blocks located in Song Yuan City, Jilin Province, China. Miao 14 covers 19.8 square kilometers, of which 15.6 square kilometers are oil-bearing areas. The Company operates in three segments: extraction and sale of crude oil, subleasing of oil fields and resale of oil drilling equipment and accessories and oilfield underground technology services. China Daqing's Subrental business segment is engaged in the subleasing of Miao 14 and its drilling equipment and materials to Daqing Haihang Oil Field Development Company. As of March 31, 2011, China Daqing had a total of 121 wells. During the fiscal year ended September 30, 2010, China Daqing developed 30 new oil wells and also converted 19 existing wells to injection wells, upping its total oil wells to 96, and injection wells to 25. China Daqing sells all the crude oil the Company extracts to PetroChina Jilin Oilfield Company, which is a subsidiary of PetroChina Group, the largest crude oil supplier in China.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors set forth in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q.
Комментарии