CNOOC Makes Discovery in Bohai Bay

CNOOC announced the success of appraisal well LD10-1-2 located in Bohai Bay. The well was drilled by CNOOC Services Ltd.'s jackup, Bohai X. LD10-1-2 is approximately 22 kilometers northeast of SZ36-1 oil field and an appraisal well on the LD10-1 discovery. The appraisal well flowed over 1,000 barrels of API 18-20 degrees of crude per day during two drill stem tests.

Mr. Ru Ke, Executive Vice President of the Company, commented: "The well encountered pay zones of 68 meters. It is a further confirmation of economic reserves in place of LD 10-1." CNOOC has a 100% interest in the discovery.