Replies to post #87766 on China Growth Stocks

[Michael Anderson]

for Exxon? Or Petrobras? Or Total? Or Royal Dutch Shell? Maybe they're all frauds? But i doubt it...

That is obviously a silly comparison. Just because a Chinese company states they are doing business with a large firm, doesnt mean it is necessarily in the same type of capacity as stated. Really as Shinisaurus stated, you dont know unless you can actually do the verification. This isnt some large US company that has verifications all over the place like Exxon, but chinese company that had passed issues and is right in the middle with all of the other Chinese reverse mergers. For all I know, they may be completely legit, but without doing the on the ground DD, indepth DD, you just dont know.

[realfast95]

NEP - in their recent purchase to close this Qtr they used
PetroChina geological reserve report.

For the Durimu oilfield they are testing and they wrote:
"...engaged Hunan Province Mining Geological Bureau Physical Exploration and Survey Team, an independent geological survey partner in early July 2011 and conducted seismic survey work in Durimu from July 20th to September 28th, 2011...."

The real issue is their declining earnings, a large writedown on the value of the current production field, high taxes, and rising shares. All before the new fields come online.


But I got a shotgun lets go.
If we get caught we will just sing

"Then one day he was shootin at some food,
And up through the ground came a bubblin crude.
Oil that is, black gold, Texas tea..."