Replies to post #1198 on China North East Petroleum Holdings, Ltd.(fka CNEP

[chensiona]

To be honest nothing gives me (and I believe others as well) confidence in the management at this point in time. Thats one of the reasons its not running like the other stocks in this sector and has barely moved while crude keeps climbing.

Its a good risk reward play because if management comes through, people will trust them again and it'll be off to the races to make up the lost ground. I have options and shares so I hope they announce a date soon, lol.

[stills999]

Perhaps the accounting amateurism will or will not reappear. So, to answer your question, I don't know.

However, what matters to me much more is that the company is making good money and - from that perspective - this is not a company of amateurs. If stock goes down because of 'amateurism' in their accounting/communication, I see it as an opportunity to buy more. If their accounting issues are behind them, the stock will probably not see these low valuations again.

Also, over time, I'm sure the company will learn from their mistakes.

In other words, for those who are patient, I feel it is just a matter of time.

[RyanW439]

While it's certainly not a guarantee, this really makes me think they're taking this stuff seriously now. I wish they had hired them as the full-time auditor, but this still makes me think they're pretty intent on fixing there reporting issues.


http://www.prnewswire.com/news-releases/china-north-east-petroleum-holdings-ltd-engages-ernst--young-china-for-sarbanes-oxley-compliance-103521054.html