COSL Reports Successful Closing of AGM, Class Meetings

China Oilfield Services Limited (COSL) held its 2006 Annual General Meeting and Class Meetings Wednesday at CNOOC Plaza in Beijing.

The chairman of the meetings was Mr. Yuan Guangyu, Vice chairman, CEO and President of COSL. Mr. Xu Yongchang, the General Manager of the Asset Management Department of CNOOC, Mr. Chen Weidong, Executive Vice President and Company Secretary of COSL, and Mr. Guo Yang, minority shareholder of the Company, attended the meetings. Relevant representatives from Jun He Law Office, the scrutineer of the meetings, and Ernst & Young, auditor of the Company also attended the Annual General Meeting and Class Meeting.

The total number of shareholders and proxies attended the Annual General Meeting was 3, representing 79.4% of the total issued share capital. The 15 resolutions proposed at the Annual General Meeting were approved by way of poll.

Immediately following the end of the Annual General Meeting, the Class Meeting of H Shares Holders and the Class Meeting of Domestic Shares Holders were held. The resolution to approve the Proposed A Share Issue was passed in the two Class Meetings. The successful closing of the Annual General Meeting and Class Meetings laid a solid legal foundation for the listing of the Company through A Share Issue.


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