Recon Technology Receives New Oil Field Market Access Certificate

BEIJING, July 19 /PRNewswire-Asia-FirstCall/ -- Recon Technology, Ltd. (Nasdaq: RCON), a leading Chinese non-state-owned oil field services provider, announced today that one of its subsidiaries has been granted a new access certificate that authorizes the company to operate in the CNPC Jilin oil field market. CNPC is China's largest oil and gas producer and supplier, one of world's major oil field service providers and a globally reputed contractor in engineering construction.

Recon Technology has been certified for several years to operate in numerous other CNPC oil field markets including Huabei, Qinghai, Daqing and Changqing. Recon also is a qualified CNPC (Energy Ahead/No.1 Resource Network) supplier for Technical Services and Resource Supplies. In addition, Recon has a number one rating as an Internet supplier to Sinopec, the China Petroleum & Chemical Corporation, which is a vertically integrated energy and chemical company engaged in oil & gas exploration and production.

Recon CEO Mr. Yin Shenping said, "These certificates and qualifications underscore the strength of our products and services as well as our excellent relationships with China's largest oil companies."

To maintain long-term cooperation with the major oil producers, Recon has applied for additional market access certificates that are now required by new regulations for oil fields in Tuha, Jidong, Xinjiang and Jiangsu.

About China National Petroleum Corporation (CNPC)

CPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction. With a presence in almost 70 countries, CNPC is an integrated international energy company, with businesses covering oil and gas operations, technical services, engineering and construction, equipment manufacturing, financial services and renewable energy development. The company is listed on The Stock Exchange of Hong Kong (SEHK) under code "0135". Jilin Oil Field Subsidiary is a regional subsidiary of CNPC with headquarter in Song Yuan, Jilin Province. Major business of Jilin Oil Field Company is exploring, producing and distributing petroleum products. For additional information about CNPC, please visit the company's website at http://www.cnpc.com.cn/en/ .

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. In addition, as one of only two acoustic system providers in the world, Recon's acoustic pipeline monitoring system is widely used to prevent gas leakage in the transport pipeline. 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. More information may be found at http://www.recon.cn or e-mail: [email protected].

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 more information, please contact:

    Investor Contact:
     Hawk Associates
     Julie Marshall, Amy Lin
     Tel:   +1-305-451-1888
     Email: [email protected]

SOURCE Recon Technology, Ltd.