Property Market Forum - Estate Agent Forums

China North East Petroleum (CNEH:OTCBB) $2.50 + 0.20 on 51,550 shares.



The company announced preliminary production numbers for Q 3 on November 3, 2008 and stated they would release final results for Q3 this week.



The stock has been inching up since the last release and I expect higher prices after the news.



The company has booked $0.36 in earnings for the first 6 months of 2008. They are just not getting a reasonable P/E but that will change soon.



We are also looking for the company to move to the AMEX or NASDAQ before the end of the year or in Q1 2009.



I would think that the Earnings for 2008 will be in the $.50-.60 range depending on the price of oil and the number of new wells they bring on line.



We all can do the math of giving CNEH a P/E of 10 to 20. Trading above $2.50 could see $3.00-3.25 and then $3.50-4.00.