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China In-Focus: Recon Technology Receives $1.2 Million Of Orders

March 9, 2010 (FinancialWire) — Recon Technology, Ltd. (NASDAQ: RCON), a Chinese non-state-owned oil and gas automation services provider, said that it has received around $1.2 million in four new equipment and chemical orders from China National Petroleum Corp.

Recon said it received an RMB 1,493,973 (around $219,000 ) order from the CNPC Changqing Sulige Gas Field in Inner Mongolia.

This includes various gas and oil field chemicals, such as gas well cleanup additive, clay stabilizer, crosslinking agent, foaming agent and bactericides. Recon also received an RMB 2.276 million (around $333,000 ) order from CNPC Tuha Oilfield in China’s Xinjiang Uygur Autonomous Region and an RMB 1,731,600 (around $254,000 ) order from the CNPC for the First Extraction Plant of Huabei Oilfield in Hebei Province.

Lastly, Recon received an RMB 2,378,493 (around $348,000 ) order from CNPC for the Fourth and Fifth Extraction Plants of Huabei Oilfield for burners and horizontal furnaces. Recon’s leading technology in its burners and furnaces was an important element in securing this order.

China-based Recon Technology provides Chinese oil and gas companies with automation services used for exploring, extracting, producing, processing, refining and transporting petroleum products.

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