PetroChina.Com

Price Watch (May 18, 2008)

STOCK ANALYSIS

(Presented Alphabetically by Ticker Symbol)

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Ticker: CCGY.OB (China Clean Energy Inc.)

Close: $0.90 (Friday, May 16, 2008)

Short-term: NEUTRAL TO SLIGHTLY BEARISH

CCGY broke the $1.10 support level and has made a new low.

Any rally from current level or below will encounter selling at or above $1.10

Intermediate-term: NO UPTREND YET

Long-term: NO ANALYSIS YET

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Ticker: CEO (CNOOC Ltd. ADS)

Close: $192.08 (Friday, May 16, 2008)

Short-term: NEUTRAL TO SLIGHTLY BEARISH

CEO is mildly extended. A probable pullback to the $188-$190 level can be expected.

Intermediate-term: OSCILLATING & NEUTRAL TO SLIGHTLY BEARISH

Long-term: NO ANALYSIS YET

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Ticker: CHNG.OB (China Natural Gas Inc)

Close: $6.31 (Friday, May 16, 2008)

Short-term: NEUTRAL TO MILDLY BULLISH

CHNG is entering a supply zone that begins at around $6.50. For bullishness to prevail, it must wade through the overhanging supply between $6.40 and $7.20.

We expect that this will take some time, but longer term, the stock should rise above $7.20. Hence the short-term neutral to midly bullish prognosis.

Intermediate-term: UPTREND INTACT

Long-term: NO ANALYSIS YET

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Ticker: CNEH.OB (China North East Petroleum Holdings)

Close: $4.36 (Friday, May 16, 2008)

Short-term: NEUTRAL TO MILDLY BULLISH

The stock has moved more than 10-fold since July, 2007 when we first established its uptrend. We now expect some resistance at around $4.5 area. Hence the neutral rating. However chances are fair to good that it will decisively move above $4.5 after some struggle and hence the mildly bullish part.

Intermediate-term: NEUTRAL TO BULLISH

Long-term: NO ANALYSIS YET

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Ticker: PTR (PetroChina Co. ADS)

Close: $146.95 (Friday, May 16, 2008)

Short-term: NEUTRAL TO SLIGHTLY BEARISH

PTR appears somewhat extended near-term, with a pullback to $144-$145 area likely and if that fails to hold, to $142 area.

Intermediate-term: NEUTRAL & OSCILLATING

Long-term: NO ANALYSIS YET

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Ticker: SNP (China Petroleum & Chemical Corp)

Close: $98.45 (Friday, May 16, 2008)

Short-term: NEUTRAL TO SLIGHTLY BULLISH

Friday’s opening gap was undesirable as it may be closed soon. This is the neutral part. However, the support at $95.5 to $96 area is strong and prices are likely to rally from there. This is the bullish part.

Intermediate-term: MODERATELY BULLISH

Long-term: NO ANALYSIS YET

STOCK ANALYSIS (Made During Market Hours)

(Presented Alphabetically by Ticker Symbol)

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Ticker: CCGY.OB (China Clean Energy Inc.)

Intra-day Low: $1.12

Intra-day High: $1.20

Last Saw: $1.17

Short-term: BOTTOMING & TURNING BULLISH

Intermediate-term: UPTREND EXPECTED

Long-term: NO ANALYSIS YET

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Ticker: CEO (CNOOC Ltd. ADS)Intra-day Low: $118.08

Intra-day High: $119.81

Last Saw: $119.20

Short-term: BULLISH

Intermediate-term: UPTREND INTACT

Long-term: UPTREND INTACT

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Ticker: CHNG.OB (China Natural Gas Inc)

Intra-day Low: $5.00

Intra-day High: $5.30

Last Saw: $5.25

Short-term: BULLISH

Intermediate-term: UPTREND INTACT

Long-term: NO ANALYSIS YET

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Ticker: CNEHY.OB (China North East Petroleum Holdings)

Intra-day Low: $0.43

Intra-day High: $0.45

Last Saw: $0.45

Short-term: UPTREND INTACT

Intermediate-term: UPTREND INTACT

Long-term: NO ANALYSIS YET

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Ticker: PTR (PetroChina Co. ADS)

Intra-day Low: $157.27

Intra-day High: $158.50

Last Saw: $158.20

Short-term: BULLISH

Intermediate-term: UPTREND INTACT

Long-term: UPTREND INTACT

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Ticker: SNP (China Petroleum & Chemical Corp)

Intra-day Low: $114.18

Intra-day High: $116.28

Last Saw: $116.26

Short-term: UPTREND INTACT

Intermediate-term: UPTREND INTACT

Long-term: UPTREND INTACT