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China North East Petroleum Announces First Day of Trading on the NYSE Amex

Posted on: Monday, 15 June 2009, 07:30 CDT

HARBIN, China and NEW YORK, June 15 /PRNewswire-Asia-FirstCall/ -- China North East Petroleum Holdings, Limited (OTC Bulletin Board: CNEH; 'CNEH'), a leading oil company in Northern China, announced today that its common stock has been approved for listing on the NYSE Amex LLC ("NYSE Amex"), under the new ticker symbol "NEP" (NYSE Amex: NEP).

China North East Petroleum is the first Chinese non-state-owned oil exploration and production company to list on the NYSE Amex.

"Since becoming a public company, we have not only devoted significant resources to expand our growth, but also improved our corporate governance to meet the requirements of the SEC and the NYSE Amex." Commented Mr. Hongjun Wang, President of China North East Petroleum. "We are pleased that our hard work has resulted in our common stock being successfully listed on the NYSE Amex. We believe this listing on the NYSE Amex will serve as an excellent platform to enhance our visibility in the U.S. capital markets, increase the attractiveness, liquidity and marketability of our stock, and further expand our investor base. Today's listing doesn't mark the conclusion of our successful growth plan, but rather a fresh beginning. Our management team will continue to work diligently to expand our business operations, increase revenue and profitability, and create more value for our shareholders in the coming years."

ABOUT CHINA NORTH EAST PETROLEUM (NYSE Amex: NEP)

China North East Petroleum Holdings Ltd. is engaged in the production of crude oil in Northern China. The Company has a guaranteed arrangement with the PetroChina to sell its produced crude oil for use in the China marketplace. The Company currently operates four oilfields in Northern China. For more information about the Company, please visit http://www.cnepetroleum.com

ABOUT NYSE Amex

NYSE Euronext (NYX) is the world's most diverse exchange group, offering a broad and growing array of financial products and services in Europe and the United States that include cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions. With over 8,000 listed issues globally, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex -- represent nearly 40% of the world's cash equities trading volume, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world's second largest derivatives business by value of trading. NYSE Euronext offers comprehensive global commercial technology, connectivity, and market data products and services through its innovative trading solutions unit, NYSE Technologies. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit: http://www.nyx.com .

Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission.

SOURCE China North East Petroleum Holdings, Limited

Source: PR Newswire

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