TAIYUAN CITY, China, Nov. 18 /PRNewswire-Asia/ -- Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH) ("Longwei"), a leading oil and fuel wholesaler and distributor operating in Shanxi Province, China, announced today that it will delay its earnings release and investor conference call for the quarter ended September 30, 2009. The earnings release and investor conference call were previously scheduled for Tuesday, November 17, 2009 at 1:00 p.m. Eastern time.
The earnings call will now take place on Friday, November 20, 2009 at 11:30 AM EST. The Company will distribute a press release and will file its Form 10-Q with the SEC prior to the earnings conference call.
The Company noted that the delay is unrelated to any significant changes in Longwei's financial condition, results of operations or in the effectiveness of the Company's internal controls. The Company has received preliminary approval from its auditor of its Form 10-Q for the quarter ended September 30, 2009. However, a final review by the Company's auditor has not yet been completed.
To participate in the call please dial (800) 289-0546, or (913)312-0963 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 at the Company's website at http://www.longweipetroleum.com .
A replay of the call will be available for two weeks from 2:30 p.m. EST on November 20, 2009, until 11:59 p.m. EST on December 4, 2009. The number for the replay is (888) 203-1112, or (719) 457-0820 for international calls; the passcode for the replay is 4403396. 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 (the "Company") is an energy company that, through its subsidiaries, engages in oil and gas operations in the People's Republic of China ("PRC"). Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company's headquarters and primary facilities are located in Taiyuan, Shanxi Province ("Shanxi"). The Company purchases diesel, gasoline, fuel oil and kerosene (the "Products") from various petroleum refineries in the PRC. The Company is 1 of 5 licensed intermediaries in Shanxi that operates its own large scale storage tanks and has the necessary licenses to operate and sell 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 to large scale gas stations, coal plants and other power supply customers and small, independent gas stations. The Company also earns revenue by acting as a purchasing agent for other intermediaries in Shanxi and through the sale of diesel and gasoline at a gas station located on the Company's property in Taiyuan.
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 info@redchip.com .
For more information, please contact:
At the Company:
Jim Crane, Chief Financial Officer
U.S. Office: +1-617-699-6325
P.R.C. Tel: +86-186-0125-0891
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Tel: +1-407-644-4256 x104
Email: info@redchip.com
Web: http://www.RedChip.com
