Replies to post #9106 on Longwei Petroleum (fka LPIH)

[chiefs1]

I read somewhere he one of the court documents that the vegetation on the railway, longwei was trying to convince people that that was not their railroad spur, that it was actually a different location don't know if that's true or not. they had to be making money at one time to spend over a hundred million dollars in cash to buy the new facility the company could not have went bankrupt and dried up in less than a year after spending that much money on her brand new facility guarantee to make them money. it's all kind of weird, let's see how it plays out hopefully they pay fines or whatever to the SEC lower their metric storage to the right number 110 - 160 million cubic feet instead of 220 advertise the correct things and basically start over hopefully they will do that

[Watcher31]

they booked the oil trades thru that location, they only ever wanted the oil import and trading license from the location.
The physical location was of little value.
they made a lot of money doing oil trading inside of china and thru importation and sales...