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An Fengbin, Chairman, CEO and President of Andatee China Marine Fuel Services, purchased 3,462 shares in the company at an average price of $5.23 on November 23rd.

Andatee is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China.

Last month the company announced that its board of directors had approved and adopted a share repurchase plan. The plan, which authorizes a buyback of the company's common stock up to a value of $0.5 million, is valid up until October 2011.

Andatee said in October that "it may (but is not obligated to) repurchase shares of its common stock from time to time on the open market or in privately negotiated transactions pursuant to the Exchange Act Rule 10b-5, Rule 10b5-1, Rule 10b-18 and other applicable SEC legal requirements."

The company added that the timing and actual number of shares repurchased would depend on a variety of factors including regulatory restrictions on price, manner, timing, and volume, corporate and other regulatory requirements and other market conditions in an effort to minimize the impact of the purchases on the market for the stock.

Andatee said that An Fengbin's stock trading plan had been adopted in accordance with the guidelines specified by Rule 10b5-1 under the Exchange Act. Under this plan, Mr. An may (but is not required to) purchase the company's common stock up to a value of $0.5 million up until October 2011, subject to 'certain conditions'.

Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. These plans allow insiders to have shares bought or sold for their accounts over a period of time regardless of any material, non-public information they may receive after adopting their plans.

Commenting on the repurchase plan last month, An Fengbin said: "The Board's authorization of the share repurchase plan reflects our confidence in the strength and confidence we have in the fundamental strength of Andatee's business. The company's continued expansion of its footprint along coastal China and ongoing construction of production facilities give us this confidence in the long-term growth prospects of our business. We remain strongly committed to maximizing the long-term shareholder value and realizing the full potential of our business and operations."

As of October 15, 2010, Andatee had approximately 9.6 million shares of common stock outstanding.

During the third quarter of 2010, Andatee's net profit rose by 73.5 percent to $2.6 million.

Revenues for the third quarter were $57.5 million, which represented an increase of approximately 78.5 percent compared with $32.2 million during the same period in 2009. The increase was said to be due to an 82 percent increase in sales volumes and to a higher average crude oil price in the marketplace.