+ Watch CNEP
on My Watchlist
The company engages in the exploration and production of crude oil in China.
While some have continued to question NEP's financial reporting, the company has addressed those issues, and quietly been pumping and selling hundreds of thousands of barrels of oil and selling them at wonderful profit margins. They've also been reinvesting the millions of $ positive cash flow in productive new oil fields. No debt, great earnings, lots of cash on the balance sheet, growing asset base. At its current price of $2, it's selling for less than 2x trailing 12 mo earnings. I predict they'll make more than the current stock price in net income by mid 2013. That means getting all your money back in net profits in less than 18 months. Almost like getting the company for free.
Have taken $5m in questionable loans from shareholders and seem reluctant to start their announced buyback despite supposedly having $80m in cash.
The financial statements show $2.28/share on their cash assets, they acquired Mongolian oil fields at the beginning of the year, and they have been proven to be on the up and up after their major audit last year. I believe this little investment should make me a pretty penny.
I've learned a little trick these Chinese companies are using. Have you noticed they all have China in their name? How many companies do you know that have America, Canada, Germany, etc... in their names? The reason they put China in their name is to draw in foreign investors, because China means growth. Most of these companies are frauds and you should stay away from them.
Tracking portfolio for China based companies that gained listings on US exchanges (Nasdaq, NYSE, or Amex) after conducting reverse mergers. Stocks that have been delisted have been omitted. Start date: Jun 24, average P/E of these companies: 3.
This is a tracking portfolio of all CAPS-ratable tickers in the Chinese RTO/SPAC space (i.e., companies that listed without filing an IPO).China North East Petroleum Holdings Ltd. went public via a reverse merger in 2004. The company is based in China.
NEP appears to be a fraud. Check out this excellent and in-depth review of their own SEC 10-K filings and all of the inconsistencies by an analyst at http://www.bigfishresearch.com/nep-is-your-contract-drilling-business-real.php
Fundamentals look good, but going through a bunch of lawsuits isn't settling.
Giving these 5 stocks a BUY today at these prices they are a great value. NEP, TNK, XRTX, TSYS.
Despite the accounting calamity last may, management is unlikely to make fool of themselves again. Now, with edging energy prices, oil is a buy especially in the emerging oil gobbling giant China.
Bought this around 9...then the accounting errors happened and I didnt know if it would ever trade again. In 2 years I think we can expect a double from here.
This stock is still reeling from the restatement of its 2008 financial results, which occurred several months ago. I think the financials are basically in line and this company appears to be positioned for massive success as a favored driller for Petrochina. Simple business model, focused management. WIll be a multi-bagger unless fraud runs deep. I am putting real money on this.
There were 30 items in your list. Here they are in random order:* CMTL 3** CNXT 3** NEP 5*SNDKSUPGIPXLPRSCLOPPDVPHMCECOSCEIIDCCAGXCBSTPDLIAPOLKIRKMSFTARORTNHRBOSKUSMOUISZLCSTERTNAVAMEDAFAMTimestamp: 2010-11-08 17:41:13 UTC
Only sold half of my original position, so this get's the checkmark of owned!
Nigotiating with several companies BJGP
China and Oil....the goverment will back this company as oil is in such demand in this country.
Looks good to go. I will ride mine all the way to at least $10.
Wow...what a disaster. I got fooled on this one. Live and learn.
I can't believe no one rated this stock down, they currently don’t trade as they are halted and are awaiting forensic auditing, people are resigning, stepping down etc.... pending lawsuits, do some DD people, <br /><br /><br /><br />Anyways when this stock resumes trading after the halt is lifted I expect it to gap down maybe 1.50-3.75......... Who knows maybe it will be delisted and go OTC, then you’re talking .40-.90 cents.... <br /><br /><br /><br />I feel bad for investors in any case, I was going to purchase shares in this security right before it got halted, well I won’t invest in now, not after all that has gone on, I will trade the reaction when it resumes trading however, "if" it does like I said expect it do gap down big.... <br /><br /><br /><br />Easy points here<br /><br />
expect higher revs
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