China Natural Gas Announces Delay in Filing Form 10-Q for Second Quarter of 2007
14 August 2007 - 10:01PM
PR Newswire (US)
NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- China Natural Gas, Inc.
(OTC:CHNG) (BULLETIN BOARD: CHNG) , one of the leading providers of
pipeline natural gas for industrial, commercial and residential use
and compressed natural gas (CNG) for vehicular fuel in Xi'an,
China, today announced that it will delay the filing of its Form
10-Q for the second quarter ended July 30, 2007 and has filed a
Form 12B-25 with the Securities and Exchange Commission (SEC) that
provides the company with five additional calendar days (until
August 19, 2007) to file its Form 10-Q for the second quarter. The
Company's Quarterly Report on Form 10-QSB for the three-month
period ended June 30, 2007 cannot be filed within the prescribed
time period because the Company requires additional time for
compilation and review to insure adequate disclosure of certain
information required to be included in the Form 10-QSB. About China
Natural Gas, Inc. China Natural Gas, Inc., ("CHNG"), is the first
China-based natural gas company publicly traded in the US. It
currently owns and operates a 120 kilometer long compressed natural
gas pipeline in Xi'an, China, a fast growing Chinese city supported
by a population of approximately eight million and is the "gateway"
to the broad Western regions of China. CHNG has three profitable
business segments: end user delivery of natural gas services to
residential, commercial and industrial customers; wholesale natural
gas to retail natural gas filling stations; and retail natural gas
at company-owned natural gas filling stations. The city of Xi'an
has approximately 20,000 Taxis, 3,000 buses and 2,000 special
purpose vehicles that are powered by compressed natural gas. This
press release may contain forward-looking statements. These
statements are based on the current expectations or beliefs of
China Natural Gas, Inc. management and are subject to a number of
factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements,
including the fluctuation of natural gas prices, the availability
of natural gas supplies, changes in governmental regulations and/or
economic policies. DATASOURCE: China Natural Gas, Inc. CONTACT:
Ashley Ammon MacFarlane, or Bill Zima, Integrated Corporate
Relations, +1-203-682-8200, (Investor Relations); or In Asia:
Xuyang Zhang, Integrated Corporate Relations, Inc., +86 10 8523
3087
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