Longwei Petroleum Investment Holding Ltd. (NYSE Amex: LPH)
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Longwei Petroleum Announces Conference Call to Discuss Third Quarter Fiscal 2012 Financial Results
5/4/2012 7:00:00 AM
TAIYUAN CITY, China, May 4, 2012 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced that it will hold a conference call to discuss its financial results for the third fiscal quarter ended March 31, 2012.
The conference call is scheduled for Tuesday, May 15, 2012 at 10:00 a.m. Eastern time (7:00 a.m. Pacific). Mr. Michael Toups, Chief Financial Officer, will host the call and be available during the question-and-answer session.
To participate in the call, please dial (888) 504-7961, or (719) 325-2157 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found via the Company's website at http://www.longweipetroleum.com, or alternately at http://ViaVid.net.
A replay of the call will be available for two weeks from 1:00 p.m. EDT on May 15, 2012, until 11:59 p.m. EDT on May 29, 2012. The number for the replay is (877) 870-5176, or (858) 384-5517 for international calls; the passcode for the replay is 4273433. In addition, a recording of the call will be available via the Company's website at http://www.longweipetroleum.com for one year.
About Longwei Petroleum Investment Holding Limited
Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China. The Company's oil and gas operations consist of transporting, storage and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company's Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.
The Company seeks to earn profits by selling its products at competitive prices with timely delivery to coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue under an agency fee by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company's facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.
For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting Dave Gentry at email@example.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Disclosure: None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Longwei Petroleum Investment Holding Ltd. (“LPIH”) is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. LPIH paid RedChip Visibility, a division of RedChip Companies, Inc., $30,000 for twelve (12) months of RedChip Visibility Program services, which included the preparation of the equity research report(s). The equity research report(s) were prepared for informational purposes only and were paid for by the company portrayed in the report. Information contained in the equity research report(s) is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. For the period February 2008 through February 2009, LPIH agreed to pay RedChip Companies, Inc. 300,000 shares of free-trading stock plus $30,000 in cash per quarter for investor relations services. For the 12-month period March 2009 through March 2010, LPIH agreed to pay RedChip Companies, Inc. a monthly fee of $15,000 in cash and 1.5 million shares of Rule 144 stock for investor relations and consulting services. For the period April 8, 2009 through June 8, 2009 LPIH increased the monthly cash fee paid for investor relations services from $15,000 per month to $20,000 per month. For the period July 8, 2009 through September 8, 2009 the monthly cash fee of $20,000 was reduced to $15,000 in cash for investor relations services. For the period July 30, 2009 through October 8, 2010 RedChip received an additional 846,800 shares of free-trading stock for investor relations services. For the period of September 8, 2009 through October 8, 2010 the monthly cash fee of $15,000 was reduced to $10,000 in cash for investor relations services. RedChip received a one-time IR consulting fee which includes expenses of $295,000 for 18 months of service. RedChip Companies, Inc. invested in the issuer and owns or owned up to 500,000 shares of the issuer's stock that was registered. These shares may be sold during the time it represents the company for investor relations activities. RedChip may sell anywhere from 5,000 shares to 200,000 shares during any two-month period of its investor relations activities, depending upon the liquidity of the stock. RedChip Companies, Inc., employees and affiliates may maintain positions and buy and sell the securities or options of the issuers mentioned herein.