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BEIJING, March 30 /PRNewswire-Asia-FirstCall/ -- Recon Technology, Ltd.
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'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/ .
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:
SOURCE: Recon Technology, Ltd.
CONTACT: Investors, Susan Zhou of Hawk Associates, +1-305-451-1888,