CNOOC New Appraisal Well in Bohai Bay Successful

abarrelfullabarrelfull wrote on 27 Aug 2014 10:45

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April 29, 2004

CNOOC Limited (the "Company" or "CNOOC Ltd."; NYSE "CEO", SEHK "883") announced today the successful results of appraisal well Jinzhou (JZ) 25-1S-4D which confirmed the oil and gas pay zones in JZ 25-1S Structure.

JZ25-1S-4D, drilled in 26 meters of water to a total depth of 2022 metres, is located in Liaodong area. During drill stem test 1("DST"), JZ 25-1S-4D flowed over 2000 barrels of 31-33 API degree of oil and approximately 0.2 million cubic feet of natural gas per day on 12.7 mm choke. The well produced more than 8.6 million cubic feet of gas per day during DST 2 on 10.31 mm choke.

Mr. Zhang Guohua, Senior Vice President of the Company commented, "Following recent successful BZ 34-1 appraisal wells, the positive results on JZ 25-1S-4D further demonstrate the reserve potential of Bohai Bay. Further wells are planned. I look forward to these future well results that will indicate reserve size there."

CNOOC owned a 100% interest of the discovery.

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