China North East Petroleum Reports Preliminary Q4 Oil Production of 723,154 Barrels

China North East Petroleum Holdings Ltd. NEP today announced preliminary fourth quarter and full year 2010 oil production results and fourth quarter 2010 drilling results for its oil drilling and service subsidiary, Tiancheng. The Company's crude oil production for the full year 2010 totaled 723,154 barrels, a 20% decrease from 908,126 barrels in 2009. Oil production in the 2010 fourth quarter was 161,279 barrels, a 19% increase sequentially from 135,473 barrels in the 2010 third quarter. The total number of wells in production as of December 31, 2010 were 295 compared to 289 wells in production as of December 31, 2009.