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| CNOOC Limited |
| 1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, Hong Kong |
| Business Description | The company is an oil and gas company that engages primarily in the exploration, development and production of crude oil and natural gas offshore China. |
| Offering Information Company has | |||
| Trading As | CEO (NYSE) | Industry | Natural Resource (SIC 1311) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 2/8/2001 |
| Domestic Shares Offered | 22,691,412 | Offer Date | 2/21/2001 |
| Foreign Shares Offered | 59,429,888 | Filing Range | $13.30 - $16.60 |
| Company Shares | 72,121,300 | Offer Price | $15.40 |
| Selling Shrhldrs Shares | 10,000,000 | Gross Spread | $0.540 |
| Gross Proceeds | $1,264,667,989 | Selling | $0.300 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1999 | 9/30/2000 | |||||
| Revenues | - | - | - | - | 1,849.105 | - | 2,268.829 |
| Income from Oper. | - | - | - | - | -110.000 | - | -26.588 |
| Net Income | - | - | - | - | 0.497 | - | 0.957 |
| E.P.S | - | - | - | - | 1.660 | - | 3.060 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 0.03 | 0.04 | - |
| Cash Flow - Oper. | 0.99 | - | 1.29 | ||||
| Cash Flow - Inv. | -0.54 | - | -0.82 | ||||
| Cash Flow - Fin. | -0.29 | - | 0.16 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/2000 | Financial Ratios | ||||
| Total Assets | 4.06 | Current Assets | 1,349.95 | Current Ratio | 2,054.54 |
| Total Liab. | 1.64 | Current Liab. | 0.66 | Debt Ratio | 40.29% |
| Total Equity | 2.42 | Working Cap. | 1,349.29 | Debt to Equity Ratio | 0.67 |
| Cash | 0.49 | Return on Assets | 23.57% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund a portion of capital expenditures, to pay retirement benefits payable to retired CNOOC employees. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Auditor | Arthur Andersen |
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