BEIJING, China, April 22 /PRNewswire-Asia-FirstCall/ -- Recon
Technology, Ltd. (Nasdaq: RCON) (http://www.recon.cn/ ), a leading
Chinese non-state-owned oil and gas automation services provider,
today announced it has received a new order from China Petroleum
Pipeline Machinery Manufacturing Co. Ltd., a subsidiary of China
National Petroleum Corporation (CNPC).
The order, valued at RMB 5,276,000
(approximately $772,000 USD), is for
10 SAACKE heavy oil burner management systems and includes
installation and initial start-up and trial runs of the systems as
well as ongoing maintenance under a two-year agreement. Recon
expects to make delivery by July
2010.
Recon Technology CEO Shenping Yin
said, "We continue to strengthen our role as essential technology
providers to China's leading oil
and oil industry companies. This order from China Petroleum
Pipeline Machinery Manufacturing Co. Ltd. demonstrates our
competitive position in China's
petroleum services industry. We are working with world-class
technology and services providers, such as German-based SAACKE, to
increase the efficiency and profitability of China's petroleum companies."
SAACKE is a leading German burner management system provider.
Demands on modern firing technology in the petroleum industry are
complex, including drastically intensified requirements for
protecting the environment and conserving resources as well as
providing maximum flexibility in implementing cost-saving fuels and
optimizing systems and components to deal with the growing dynamics
of global competition. Over 100,000 firing plants and more than
5,000 marine units produced by SAACKE are in use worldwide.
About China National Petroleum Corporation (CNPC)
CNPC is China's largest oil and
gas producer and supplier, as well as one of the world's major
oilfield service providers and a globally reputed contractor in
engineering construction. With a presence in almost 70 countries,
CNPC is an integrated international energy company, with businesses
covering oil and gas operations, technical services, engineering
and construction, equipment manufacturing, financial services and
renewable energy development. The company is listed on The Stock
Exchange of Hong Kong (SEHK)
(http://www.hkex.com.hk/index.htm ) under code "0135". For
additional information about CNPC, please visit the company's
website at http://www.cnpc.com.cn/en/ .
About Recon Technology, Ltd.
Recon Technology, Ltd. has been providing leading Chinese oil
and gas companies with automation services that increase efficiency
and profitability in exploring, extracting, producing, processing,
refining and transporting petroleum products for over 10 years. The
company's proprietary computerized process control system manages
oil production in real-time to increase extraction levels, reduce
impurities in extracted petroleum and lower production costs. In
addition, Recon's acoustic pipeline monitoring system is widely
used to prevent gas leakage in the transport pipeline. Recon's
technology is based on three software copyrights, eight product
patents and four pending patents. Recon Technology is the first
Chinese non-state-owned oil and gas service company listed in the
U.S. NASDAQ capital market. More information may be found at
http://www.recon.cn or e-mail: recon@hawkassociates.com.
Recon's online investor kit, including an investment profile,
press releases, current price quotes, stock charts and more is
available at http://www.hawkassociates.com/profile/rcon.cfm . To
receive notification of future releases via e-mail, subscribe at
http://www.hawkassociates.com/about/alert/ .
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks contained in reports field by the
company with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral,
and whether made by or on behalf of the company, are expressly
qualified by the cautionary statements and any other cautionary
statements which may accompany the forward-looking statements. In
addition, the company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after
the date hereof.
For more information, please contact:
Investor Contact:
Hawk Associates
Julie Marshall
Susan Zhou
Phone: +1-305-451-1888
Email: recon@hawkassociates.com
SOURCE Recon Technology, Ltd.