China North East Petroleum Q1 Preliminary Crude Oil Production Up
Posted on: Wednesday, 30 April 2008, 03:00 CDT
China North East Petroleum has reported preliminary crude oil production of 115,800 barrels for the first quarter of 2008, compared to 32,228 barrels for the same period of 2007.
On a sequential basis, crude oil production increased 22,561 barrels, or 24%, compared to the quarter ended December 31, 2007.
Hongjun Wang, president of China North East Petroleum, said: "Our preliminary production results for the first quarter indicate that we are off to a strong start in 2008. Many of our wells that were put into production toward the second half of our 2008 fourth quarter had the benefit of yielding a full quarter's worth of production in the first quarter of 2008.
"We continue to focus on increasing our production capabilities and our earnings results and look forward to updating investors on our initiatives when we officially report first quarter results in the second full week of May 2008."
Source: Datamonitor
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