New Oriental Energy & Chemical Corp. Stays Listed on the NASDAQ Stock Market
December 16 2010 - 8:00AM
Marketwired
New Oriental Energy & Chemical Corp.
(NASDAQ: NOEC) (the "Company"), a China-based specialty chemical
and emerging coal-based alternative fuel manufacturer, reported
today it has received a letter of determination from The NASDAQ
Stock Market granting the Company's request to remain listed on
NASDAQ, subject to monitoring by the Hearings Panel until December
15, 2011 to ensure the Company remains in continued compliance with
the shareholders' equity rule and all other listing requirements.
Additional details on the determination are available in the 8-K
being filed today by the Company with the Securities and Exchange
Commission.
Mr. Chen Si Qiang, President and CEO of the Company, stated, "We
are extremely pleased with this decision. Be assured we will make
every effort to remain in compliance, so our shareholders continue
to have the benefits associated with shares that are listed on The
NASDAQ Stock Market."
About New Oriental Energy & Chemical
Corp.
New Oriental Energy & Chemical Corp. (NASDAQ: NOEC) is an
emerging coal-based alternative fuels and specialty chemical
manufacturer based in Henan Province, in the PRC. The Company's
core products are urea and other coal-based chemicals primarily
utilized as fertilizers. Future growth is anticipated from its
focus on expanding production of coal-based alternative fuels, in
particular, methanol, as an additive to gasoline and dimethyl ether
(DME), which has been a cheaper, more environmentally friendly
alternative to LPG for home heating and cooking, and diesel fuel
for cars and buses. All of the Company's sales are made through a
network of distribution partners in the PRC. Additional information
on the Company is available on its website at
www.neworientalenergy.com.
Safe Harbor Statement
This press release may contain forward-looking statements
concerning New Oriental Energy & Chemical Corp. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the following: general economic and
business conditions, development, shipment, market acceptance,
additional competition from existing and new competitors, changes
in technology or product techniques, and various other factors
beyond its control. All forward-looking statements are expressly
qualified in their entirety by this Cautionary Statement and the
risk factors detailed in the Company's reports filed with the
Securities and Exchange Commission. New Oriental Energy &
Chemical Corp. undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
Contact: Li Donglai Chief Financial Officer New Oriental
Energy & Chemical Corp. Xicheng Industrial Zone of Luoshan,
Xinyang Henan Province, The People's Republic of China Tel:
(011-86) 139-3764-6299
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