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$LPH completes acquisition Huajie Petroleum: 100% upside

newsrelease 9/27: LPH closed a deal for a 100000 metric ton oil storage facility (their third), adding 80% to their capacity and expanding their geographic footprint. This facility is brand new and is a turnkey operation with a rail spur. Sales and management staff have been in place for several weeks so that oil sales will begin from the new location within 2 weeks.

Current TTM EPS is 0.60, will rise to $0.80 by June of 2013 and to $1.00 by December of 2013.

LPH auditors performed a comprehensive reconciliation in July comparing Chinese SAIC tax filings versus SEC filings, covering the entire period from 2009 to 2012, and proved earnings are accurate .

LPH's Forward P/E should rise from 2.4 currently, to 3.6 on this acqusition, which was done without any dilution to shareholders and on the back of a verification of accurate accounting. No other wholesaler of oil has a P/E this low.

Projecting a FWD P/E target = 3.6 and a 2013 EPS target = $1, LPH PPS has 100% upside.