Sinoenergy Corp. (fka SINE)

[miumiu]

Sinoenergy Corporation Opens Four New Retail CNG Filling Stations
Wednesday July 2, 8:00 am ET
http://biz.yahoo.com/prnews/080702/cnw015.html?.v=43


BEIJNG, July 2 /Xinhua-PRNewswire-FirstCall/ -- Sinoenergy Corporation (OTC Bulletin Board: SNEN - News; 'Sinoenergy' or the 'Company'), a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment and a designer, developer and operator of retail CNG filling stations in the People's Republic of China, today announced the opening of four new retail CNG filling stations that started selling CNG as of July 1, 2008.
Three of the new CNG filling stations are located in Zoujia Wan, the City of Wuhan, Hubei Province. The fourth CNG filling station is located in Dawulu, the City of Pingdingshan, Henan Province. Each of the stations has four filling outlets, and is open 24 hours a day, seven days a week. Targeted sales for each CNG filling station, set by the Company and used in its business planning, are 10,000 cubic meters per day (equal to 353,147 cu.ft.) The designed maximum physical capacity of a standard CNG filling station is about 18,000 cubic meters per day (equal to 635,665 cu.ft.) All of the four new retail CNG filling stations are fully licensed by local governments to operate and sell CNG for use in CNG powered vehicles.

The Company has now opened and is operating a total of eleven retail CNG filling stations in Central and Eastern China.

Wuhan is the capital of Hubei Province and the biggest city in Central China, with a population of over 9 million people. The city has about 7,000 CNG powered vehicles. There are fewer than 14 retail CNG filling stations in Wuhan, and the Company believes that at least 20 to 30 retail CNG filling stations are needed to meet current demand for CNG. Sinoenergy plans to develop and open additional retail CNG filling stations in Wuhan in 2008.

'We are very pleased to have four new stations open and operating in Wuhan and Pingdingshan,' said Mr. Bo Huang, CEO of Sinoenergy Corporation. 'Opening three new CNG stations in Wuhan is a significant milestone that we achieved after extensive coordination and communication with a number of local government agencies. Although Wuhan's government approval process took longer than we expected, the successful opening of three stations in Wuhan has reinforced and strengthened our ability to work in the future with Wuhan's government. Sinoenergy will continue to develop and maintain close contact with local government agencies in Wuhan and other markets to accelerate the development of our CNG filling station business throughout Central and Southeast China.'

About Sinoenergy

Sinoenergy is a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment as well as a developer and operator of retail CNG stations in China. In addition to its CNG related products, the Company manufactures a wide variety of pressure containers for use in different industries, including the design and manufacture of various types of pressure containers in the petroleum and chemical industries, the metallurgy and electricity generation industries and the food and brewery industries.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, future changes in the wholesale and retail price for CNG for vehicles in China; changes in policy by the national, provincial and municipal government of the PRC regarding CNG prices, the CNG vehicle industry, the construction and operation of retail CNG filling stations and related issues; the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.


For more information, please contact:

Sinoenergy Corporation
Ms. Anlin Xiong, Vice President
Tel: [phone] x860
Email: [e-mail]
Web: http://www.sinoenergycorporation.com

CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: [phone] (New York)
Email: [e-mail]
Web: http://www.ccgir.com




--------------------------------------------------------------------------------
Source: Sinoenergy Corporation