BEIJING, March 30 /PRNewswire-Asia-FirstCall/ -- Recon
Technology, Ltd. (Nasdaq: RCON), a leading Chinese non-state-owned
oil and gas automation services provider, announced today that it
has received a new automation system order from China Petroleum
& Chemical Corporation (Sinopec).
Recon received an order valued at RMB
5,080,000 (approximately $744,000
USD) from the Sinopec Xi'nan Oil and Gas Subsidiary in
Sichuan Province for Recon's
supervisory control and data acquisition system ("RSCADA"). Recon
expects to deliver the system to the oil field in Dazhou city,
Sichuan Province in April 2010.
RSCADA is an industrial computerized process control system that
monitors, manages and controls petroleum extraction at underground,
ground and above-ground levels. RSCADA connects the above-ground
level central control room with the ground level relay station, and
the relay station with the underground intelligent terminal using
the 2.4G wireless frequency. RSCADA advanced technology has
received grants and awards from the State Ministry of Science and
Technology and the city of Nanjing.
Recon Technology CEO Shenping Yin
said, "This order from Sinopec, a leading Chinese oil and gas
company, further demonstrates our competitive position in
increasing efficiency and profitability for China's petroleum industry. We have provided
services to Sinopec since 1998, and we're pleased that Sinopec
continues to select Recon for products to reduce equipment costs
and enhance productivity levels and savings."
About Sinopec Corp.
Sinopec Corp. is the first Chinese company that has been listed
in Shanghai, Hong Kong, London and New
York (CH: 600028; HKEX: 386; LSE: SNP; NYSE: SNP). The
company is an integrated energy and chemical company with upstream,
midstream and downstream operations. Based on 2007 turnover,
Sinopec Corp. is the largest listed company in China. The company is one of the largest crude
oil and petrochemical companies in China and Asia. It is also one of the largest gasoline,
diesel and jet fuel and other major chemical products producers and
distributors in China and
Asia. For additional information
about Sinopec Corp., please visit the Company's website at
http://www.sinopec.com .
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.
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 to go
public 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/ .
Forward-looking statements
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 further information, please contact:
Investor Contact:
Hawk Associates
Susan Zhou
Tel: +1-305-451-1888
Email: recon@hawkassociates.com
SOURCE Recon Technology, Ltd.