After a series of high profile exploration and test production successes, Dalian Exploration says it will not comment on speculation that it is in the throes of putting together a rights issue to tap investors for additional capital.

“We recognize that success tends to increase chatter about expansion and capital raising as more investors seek to share in that success but if the rumors are to be believed then, Dalian Exploration apparently spends each and every moment discussing how to raise money rather than doing what we do best which is searching for and identifying opportunities and deploying our expertise to bring them to fruition,” said the company’s press secretary.

At a recent energy symposium in Beijing, the company announced it would be stepping up operations in the Bohai Bay region where it has a substantial oilfield that has recently tested well for crude oil and could potentially produce as much as 40,000 barrels per day once all wells are operational.

“While we appreciate the undeniable benefits of having our stock listed on a public exchange, we also appreciate the obligations that this would place on us in terms of constant investor scrutiny. Before any rights issue or initial public offering could take place, our private shareholders would need to be consulted and until such time as that happens, the matter remains moot,” said a Dalian Exploration spokeswoman.

The company says it intends to focus on the implementation of further test procedures at several wells at Bohai Bay in northern China after encouraging test results from well #12C, which established a sustainable equivalent flow of 350 barrels per day.

About Dalian Exploration:
Dalian Exploration is a privately owned Oil & Gas exploration firm with key operations throughout North Eastern China. The company is strategically positioned to capitalise on onshore and offshore exploration opportunities that are presented by global demand for energy based natural resources.

In pursuit of continued growth, the company's commitment to increasing shareholder value is driven by an experienced management team that seeks to build upon existing competitive advantages and to strengthen operational competencies.

For further information on how you can benefit by becoming part of the Dalian Exploration growth story, contact their Investor Relations department to discover what is means to be a shareholder in the company.

Contact Dalian Exploration:
186 Zhongchang Street
Shahekou District
Dalian, Liaoning
China, 116001
Tel: +8675788700317
Fax: +867 5788 700330
[email protected]
http://www.dalianexploration.com