China Natural Gas Appoints Independent Auditor
21 Juni 2007 - 11:01PM
PR Newswire (US)
NEW YORK, June 21 /PRNewswire-FirstCall/ -- China Natural Gas, Inc.
OTC Bulletin Board: CHNG), one of the leading providers of
compressed natural gas (CNG) for vehicular fuel in Xi'an, China,
announced today that it has appointed Moore Stephens Wurth Frazer
and Torbet, LLP, as its new independent auditor, effective
immediately. Qinan Ji, Chief Executive Officer of China Natural Gas
stated, "We believe that Moore Stephens' strong presence in China
will provide us the auditing services and high standards we require
as we execute our growth plans over the next two years. We look
forward to working with this globally established accounting firm."
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. [Ashley, what
about the 15 or so CNG filling stations?] 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:
Investor Relations, Ashley Ammon MacFarlane or Bill Zima, both of
Integrated Corporate Relations, +1-203-682-8200, for China Natural
Gas, Inc.
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