CNOOC Received Notice Calling for Responses from Tianjin Maritime Court

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Jan 10, 2012, 06:48 ET

HONG KONG, Jan. 10, 2012 /PRNewswire-Asia/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK:0883) said today that its parent company, China National Offshore Oil Corporation ("CNOOC"), received a Notice Calling for Responses from Tianjin Maritime Court of the People's Republic of China on Jan. 10, 2012. Twenty-nine marine product culturists from Laoting County, Tangshan City, Hebei Province have initiated legal proceedings against Conoco Phillips China Inc. and CNOOC, and believed that their cultivation losses were caused by the Penglai 19-3 oil spill incident. The claims include compensation for cultivation losses of RMB234.5746 million, valuation fees of RMB7.0372 million and the relevant litigation costs.

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The Company has consulted its legal advisers in relation to the above matter. If there is any significant development in relation to the above matter, the Company will make disclosure in a timely manner.

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.

For further enquiries, please contact:

Ms. Ding Jianchun
Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-2973
Fax: +86-10-8452-1441
E-mail: [email protected]

Ms. Zhang Yuxiao
Senior Supervisor, Media/Public Relations
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: [email protected]

Ms. Angela Hui
Ketchum Newscan Public Relations Ltd
Tel: +852-3141-8091
Fax: +852-2510-8199
E-mail: [email protected]

SOURCE CNOOC Limited