SOURCE: New Oriental Energy & Chemical Corp.

March 05, 2008 08:30 ET

New Oriental Energy & Chemical Attains Upgraded Listing on NASDAQ Global Market

NEW YORK, NY--(Marketwire - March 5, 2008) - New Oriental Energy & Chemical Corp. (NASDAQ: NOEC), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC), announced today that NASDAQ Stock Market has approved its application to upgrade its listing from the NASDAQ National Market to the NASDAQ Global Market. The Company's shares will continue to trade with the trading symbol "NOEC" and are expected to begin trading on the NASDAQ Global Market on Thursday, March 6, 2008.

According to Mr. Chen Si Qiang, chief executive officer of New Oriental Energy & Chemical, "In order to qualify for the NASDAQ Global Market, our Company was required to meet stringent financial and liquidity requirements as well as specific corporate governance standards." He added, "Importantly, we believe that the upgrade expands our investor audience and also will provide us with increased visibility, which is in line with our continuing efforts to increase shareholder value."

About New Oriental Energy & Chemical Corp.

New Oriental Energy & Chemical Corp. is an emerging alternative fuel and specialty chemical manufacturer based in Henan Province, China. The Company is focused on the production of Dimethyl ether (DME), methanol and fertilizer products, and expects to begin production of bio-diesel within the next year. The Company sells its products primarily through a network of distribution partners.

Safe Harbor Statement:

This press release discusses the planned earnings conference call which may contain forward-looking statements concerning New Oriental Energy & Chemical Corp. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology or product techniques, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. New Oriental Energy & Chemical Corp. undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Contact Information

  • Contact:

    New Oriental Energy & Chemical Corp.
    Mr. Wang Gui Quan
    President
    Xicheng Industrial Zone of Luoshan, Xinyang
    Henan Province, The People's Republic of China
    Tel: (011-86) 376-2169211

    Investors:

    Mark Miller
    East West Network Group
    mmeastwest@hotmail.com
    Ph: (770) 436-7429

    Press:

    Ken Donenfeld
    DGI Investor Relations
    donfgroup@aol.com
    kdonenfeld@dgiir.com
    Ph: (212) 425-5700
    Fax: (212) 425-6951