BEIJING, May 31, 2011 /PRNewswire-Asia/ -- Recon Technology, Ltd. (Nasdaq: RCON) ("Recon" or the "Company"), a Chinese non-state-owned oilfield services provider, today announced that, a 4-person team lead by Chief Technology Officer Mr. Chen Guangqiang attended the 42nd Annual Offshore Technology Conference (the "Conference") in Houston from May 2, 2011 through May 5, 2011. The Conference brought together over 78,000 attendees from approximately 2,500 companies, including a number of well-known multi-national oil companies such as BP, KPC (Kuwait Petroleum Corporation), Halliburton Company and Shell Oil Company.
Recon discussed the possibility of future technical cooperation and product development with a number of companies from the U.S. and Canada at the Conference. Recon plans to pursue these technical cooperation opportunities in line with its renewed focus on research and development of technique and service. Recon's management believes that enhanced oil recovery (EOR) and production safety are the two primary concerns for Chinese oilfield companies. Thus, Recon is focusing its efforts on the research and development of techniques and services related to helping its customers resolve these problems. According to Recon management, "Technologies from the U.S. and Canada have broad application possibilities in China. Technical cooperation with companies from the U.S. and Canada will help Recon to expand its market in the short term; and accelerate the development of its techniques and enhance core competitiveness in the long run."
About the Offshore Technology Conference
Founded in 1969, the Conference is the largest and most influential exhibition in the fields of drilling, exploration, production, and environmental protection. The Conference is held annually at the Reliant Center in Houston. Each year, the Conference attracts more than 65,000 attendees and 2,000 exhibiting companies representing more than 110 countries.
About Recon Technology, Ltd.
Recon Technology, Ltd. is a non-state-owned oilfield service company in China. The Company has been providing software, equipment and services designed to increase the efficiency and automation of oil and gas exploration, extraction, production and refining for Chinese oil and gas fields for more than 10 years. More information may be found at http://www.recon.cn or e-mail: firstname.lastname@example.org.
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 filed 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.
Recon Technology, Ltd.
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