CNOOC Makes Discovery in Beibu Gulf

CNOOC Limited has made a commercial discovery with appraisal well, Weizhou ("WZ") 11-1-2, in Beibu Gulf in the Western South China Sea.

WZ11-1-2, located about 0.4 kilometers east of the original discovery well, Wan 1, was drilled to a total depth of 3190 meters in 39.5 meters of water by the semisub Nanhai II. It flowed crude of 42-45 degree API at an average rate of 8,200 barrels of oil and 13 million cubic feet of gas per day during drill stem test.

Mr. Zhang Guohua, Senior Vice President of the Company, commented, "The appraisal result is encouraging. It confirms the commerciality of the discovery and reveals new prospects in the area."

CNOOC Limited is the operator and has a 100% working interest in this prospect.