Longwei Petroleum (fka LPIH)

[Bobwins]

Longwei powerpoint numbers in error.

Didn't listen to the presentation but looked at the Powerpoint slides. Slide #24 had financial projections for 2009 and 2010.

I asked IR why 2009 projection called for 162million gross revs and net profit of 20 million when ytd 9 months numbers were 147 and 20.9. That would mean Q4 would be 15 million gross revs(compared to 47 in Q3) and a loss of 900K vs 6.6million in Q3.

Also asked why the share count summary accounted for all the shares but didn't list any that would be held by US investors. Where is the public float?

Also asked why the contraction in margins continues to slide after the new plant comes online. Gross revs are up 100% but net income is only going to increase by 50+%.

Here are the answers I got.

Powerpoint numbers were wrong.

2009 gross revs should be in the 200+million range
Net Income should be around 27 million.

That would mean Q4 will be similar to Q3 with higher gross revs but net income around 6 million.

The ownership slide was out of date. The shares listed for TabithaII(the former shell owners) are the shares that constitute the current float, around 7 million.

The margin question will take longer and they will get back to me.

Bobwins