China North East Petroleum Holdings, Ltd.(fka CNEP)

[Shengli]

Cold Hard Facts

Cash (MRQ) 45.67 mill

NO DEBT

Revenue Growth(Y/Y)144.09%

P/E 3.41
Price/Sales 1.30
Price/Book 1.60

No evidence exists to indicate that funds were misappropriated, stolen or otherwise misused by anyone. Furthermore, the JLA report did not find any material misstatements in the Company's prior financial reports filed with the SEC
The revenue from Tiancheng is expected to finance the future drilling and production of crude oil for the Company's oil production division.

Minimum company value 7 $
This is before any future announcements on aquistions or new drilling .Remember the weather held back production and drilling.
That is currently in the past

~$3/share for the company's year-end 2010e proved reserves (valued at ~$20.50/Bbl),
~$2/share for its drilling unit (valued at 2.5x EBITDA), and ~$2/share of net cash