Recon Technology, Ltd. (RCON)

[AventadorJ]

Mid-long term target for RCON is $8.9 !!She’s got new order worth 1.9 Million US Dollars from China Petroleum Corp. ,Pls note this amazing stock can always be triggered by it’s News,so get ready to the open sky!!!

the news:
Recon Technology Announces Large Furnace Order from China National Petroleum Company

BEIJING, November 05, 2013 / PRNewswire / Recon Technology, Ltd. (NASDAQ: RCON), an oilfield service company provider (“Recon” or the "Company") operating primarily in the People's Republic of China, announced today it recently received several sales orders for specialized oilfield furnaces from China National Petroleum Company’s (“CNPC”) Jiling Oilfield Company and Huabei Oilfield Company. The total value of these contracts will be approximately RMB11 million or USD1.9 million.

According to sales contracts, the Company will provide 9 vacuum heating furnaces to its newly developed customer, CNPC’s Jiling Oilfield Company, and 6 phase-change heating furnaces to its long-term customer, CNPC’s Huabei Oilfield Company. The Company will be in charge of the project, from design through manufacture of the furnaces, and expects to complete the orders before the end of calendar 2013.

Furnaces are mainly used to facilitate petroleum transportation by raising oil temperature to decrease viscosity or flow resistance and maintain liquidity before the oil is transported from the oilfield. As China’s oilfields have entered the water-flooding stage of development, crude oil temperatures drop, making furnaces even more important to efficient transportation. Key technologies and development of oilfield furnaces are of great significance to oilfield production safety, energy saving as well as production efficiency.

“Recon has sold more than 400 furnaces of various types since year 2009. We have made many technology breakthroughs, obtained 11 oilfield furnace-related patents and been a leader of this segmented industry”, said Mr. Chen Guangqiang, CTO of the Company, ”We are very excited about establishing this new business relationship with Jiling Oilfield. We will continue to focus on expanding our list of oilfield company clients in China and maintaining our leadership position. As more oil wells are developed, we believe our furnace business will continue to grow.”