ORLANDO, Fla., March 3, 2008 -- (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced it has issued a second quarter 2008 research update for New Oriental Energy & Chemical Corp. (NasdaqCM: NOEC).
Gaurav Aggarwal, MBA, RedChip Research Analyst, wrote in the report:
“A continuous oil shortage and soaring oil prices in China have escalated the country’s demand for dimethyl ether (DME). NOEC recently tripled its annual DME production capacity, positioning itself to capitalize on the market’s expected growth. Meanwhile, NOEC management has been actively building its pipeline of new contracts with major distributors in China and other countries in the region where NOEC has already won new monthly contracts which are expected to begin contributing to revenue this current fiscal year. We believe NOEC will continue to post revenue growth in the coming quarters, with DME gaining momentum in the market. We continue to maintain our ‘Buy’ rating as we believe the stock offers an attractive investment opportunity in the emerging alternative fuels market.”
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Disclosure: The views expressed in this report, (which includes the actual rating assigned to the company as well as the analytical substance and tone of the report), accurately reflect the personal views of the analyst(s) covering the subject securities. No part of the analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. The analyst(s) contributing to this report do not hold any share of the subject securities. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. As such, neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities (“related investments”). This publication was furnished on the condition that it will not form a primary basis for any investment decision. Each investor must make their own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax, and accounting considerations applicable to such investor and their own investment strategy. Any opinions expressed herein are subject to change. The subject security is not a client of RedChip Companies, Inc., or any of its affiliates.
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