HONG KONG, July 27 /PRNewswire-Asia/ -- CNOOC Limited (the "Company" or "CNOOC Ltd.", NYSE: CEO; SEHK: 0883) announced today that the Company has successfully drilled a new discovery - JinZhou (JZ) 20-2N.
(Logo: http://www.prnasia.com/xprn/sa/200701301659.jpg )
JZ 20-2N is located in the northeast of Liaodong Bay, about 4 kilometers north to JZ 20-2 gas field.
The discovery well JZ 20-2N-1 penetrated oil pay zones with total thickness of 33.4 meters. The well drilled to a total depth of 3,720 meters, with water depth of about 16 meters.
The well was tested to flow at an average rate of 1,900 barrels of oil and 345 thousand cubic feet of natural gas per day via 8.73mm choke.
Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, "This year we have found a series of discoveries including BZ 2-1, QHD 29-2 and JZ 20-2N. We believe they will contribute to the Company's mid to long term reserve growth."
The Company is making appraisal for JZ 20-2N to determine its reserve scale and commerciality.
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com .
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "believe," "intend," "expect," "anticipate," "project," "estimate," "plan," "predict" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by us that we believe are reasonable under the circumstances. However, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance and financial condition to differ materially from our expectations. For a description of these and other risks and uncertainties, please see the documents we file from time to time with the United States Securities and Exchange Commission, including our 2007 Annual Report on Form 20-F filed on June 26, 2008.
For further enquiries, please contact:
Mr. Xiao Zongwei
Joint Company Secretary and General Manager
of Investor Relations Department
CNOOC Limited
Tel: +86-10-8452-1646
Fax: +86-10-8452-1441
Email: xiaozw@cnooc.com.cn
Ms. Sharon Fung
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8082
Fax: +852-2510-8199
Email: Sharon.fung@knprhk.com
SOURCE CNOOC Limited
For further information: Mr. Xiao Zongwei, Joint Company Secretary and General Manager of Investor Relations Department of CNOOC Limited, +86-10-8452-1646, fax, +86- 10-8452-1441, xiaozw@cnooc.com.cn; Ms. Sharon Fung of Ketchum Newscan Public Relations Ltd, +852-3141-8082, fax, +852-2510-8199, Sharon.fung@knprhk.com for CNOOC Limited
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