Appraisal Well Successful in Bohai Bay‘s LD 10-1

abarrelfullabarrelfull wrote on 27 Aug 2014 07:00

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August 21, 2002

CNOOC Limited (the "Company", SEHK: 883; NYSE: CEO) announced today the success of an appraisal well, LD10-1-2, in LD10-1, Bohai Bay.

LD10-1-2, about 22 kilometers northeast of SZ36-1 oil field, is an appraisal well on 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."

The Company owns 100% of the discovery.

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