Longwei Petroleum Announces Conference Call to Discuss First
Quarter Fiscal 2013 Financial Results
TAIYUAN CITY, China,
Nov. 6, 2012 /PRNewswire-FirstCall/
-- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: 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 the financial results of its fiscal 2013 first quarter for
the period ended September 30,
2012.
The conference call is scheduled for Wednesday, November 14, 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. The Company expects to file its Form
10-Q for the first quarter of fiscal 2013 on or before the filing
date of November 14, 2012.
To participate in the call, please dial (888) 397-5352, or (719)
325-2402 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. ET on November 14, 2012, until 11:59 p.m. ET on November
28, 2012. The number for the replay is (877) 870-5176, or
(858) 384-5517 for international calls; the passcode for the replay
is 4109586. 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 info@redchip.com.
Forward-Looking Statements
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.
Contact:
At the Company:
Michael Toups, Chief Financial
Officer
U.S. Office +1 727-641-1357
mtoups@longweipetroleum.com
http://www.longweipetroleum.com
Investor Relations:
Mike
Bowdoin
RedChip Companies, Inc., Ext. 110
Tel: +1-800-733-2447
info@redchip.com
http://www.redchip.com
SOURCE Longwei Petroleum Investment Holding Ltd.