Chinese Oil Field Services Firm Jumps (RCON, BHI, SNP)

Energy

Published: March 20, 2012 12:16 pm

China’s Recon Technology Inc. (NASDAQ: RCON) announced yesterday that it had successfully used a hydraulic fracturing (fracking) technique developed by Baker Hughes Inc. (NYSE: BHI) to complete a fracking project at a field being developed by China National Petroleum & Chemical Co., known as Sinopec, (NYSE: SNP). The company also announced that it had an additional $4.75 in signed contracts on its order books for the first half of 2012.

Recon was threatened with de-listing by Nasdaq late last year for failing to file an annual report. The company was also warned for failing to be in compliance with Nasdaq’s minimum market cap requirement. The company corrected both issues in February.

Recon’s shares have gained 80% today to $4.05 in a 52-week range of $0.27-$4.50. Shares posted an intra-day high of $4.35 earlier this morning.

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.