New Oriental Energy & Chemical Corp. Responds to NASDAQ Request (NOEC)

New Oriental Energy & Chemical Corp. NOEC reported today that on Friday, August 27, 2010, the Company outlined in a letter to the NASDAQ Stock Market the steps it is undertaking to achieve compliance with NASDAQ's minimum shareholder equity requirement of $2,500,000. This letter and related attachments are contained in a Form 8-K being filed by the Company with the U.S. Securities and Exchange today. In the letter, management acknowledges that its stockholder equity as of June 30, 2010 of ($470,784) is below the minimum requirement for continued listing on NASDAQ. The Company goes on to describe actions being taken by management to bring the Company back into compliance.