Another New Discovery Made in High-temperature and High-pressure Gas Reservoir in Yinggehai
HONG KONG, April 20, 2012 /PRNewswire-Asia/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883) today announced that the Company has made another successful discovery Dongfang (DF)13-2 in high-temperature and high-pressure natural gas reservoir in Yinggehai following the successful appraisal of the middle formation of DF 13-1 gas field in 2010.
The new discovery DF13-2 is located in the north of central sag in Yinggehai Basin of Western South China Sea. The discovery well DF13-2-1 encountered gas pay zones with total thickness of 35 meters, with water depth of 65 meters and well depth of 3,168 meters. During the test period, the well flowed at an average rate of 42.4 million cubic feet of natural gas per day.
Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, "The new discovery DF13-2 is another breakthrough in high-temperature and high-pressure natural gas reservoir in Yinggehai, which further demonstrated the exploration potential of the basin."
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "believe", "intend", "expect", "anticipate", "project", "estimate", "plan", "predict" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analysis made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes reasonable under the circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of risks and uncertainties which could cause the actual results, performance and financial conditions to differ materially from the Company's expectations, including those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company has filed from time to time with the United States Securities and Exchange Commission, including 2010 Annual Report on Form 20-F filed on April 29, 2011.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the actual results or developments anticipated will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or operations.
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