Bank of New York Appointed Depositary Bank for COSL

The Bank of New York has been selected by China Oilfield Services Limited as depositary for its American depositary receipt (ADR) program. Each China Oilfield ADR represents twenty ordinary shares of the company. The company's ordinary shares are listed on the Hong Kong Stock Exchange. The ADRs trade on the over-the-counter market under the symbol "CHOLY."

China Oilfield Services Limited provides oilfield services in the offshore China market that range from exploration and development to the production of offshore oil and natural gas. Its four business segments are drilling services, well services, shipping and geophysical services. The majority of the company's business is conducted offshore China, but it also provides geophysical services in North and South America, the Middle East, offshore Africa and offshore Europe, and drilling services in offshore Africa and offshore Indonesia.

The Bank of New York is the world's largest depositary for American and global depositary receipts, allowing non-U.S. companies to offer dollar-denominated securities to investors worldwide. The Bank currently issues depositary receipts for more than 1,165 sponsored programs representing 65 countries and accounts for 63% of all sponsored depositary receipt programs.

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