Replies to post #87761 on China Growth Stocks

[blue3116]

"NEP has done everything right from an SEC reporting standpoint as well as investor cummunication"

You must be joking...this just shows me how blind you really are.

[Shinisaurus]

NEP has done everything right from an SEC reporting standpoint as well as investor cummunication.

I don't believe that the SEC reporting system produces accurate results for chinese entities. If you believe SEC filings are accurate you have numerous RTO's that trade at PE's of 1 or trade at 50% of reported cash per share.

About calling Petrochina: I don't care what Petrochina says they bought. There are plenty of situations where NEP could be engaging in fraud.

Unless I spent several weeks with my team observing the oil drilled (and followed it to the customer), hired someone to check geological reserves, confirmed volumes and pricing, comfirming every $ of CAPEX and expenditures, visited SAT/bank, etc. Only then would I be comfortable that NEP isn't a fraud. I am unaware of any NEP investors who have done this.

I'm not saying NEP is a fraud, although I will say nearly every China RTO energy play listed outside of China I've followed has turned out to be a fraud (with LPH being the exception, although their future doesn't look bright). CBEH, SCEI, PUDA, SGAS, plus several others listed in London and Australia have all turned out to be frauds.

Until someone does DD to convince me otherwise, I would suspect NEP is a fraud.

On a side note the industry makes me particularly doubtful of NEP's claims, as literally every large oil player has teams on the ground looking to acquire assets or interests in assets. Why hasn't PetroChina or COPC entered invested in NEP?

Some things are too good to be true.