Jefferies Upgrades CNOOC Ltd. (CEO) to Hold
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CNOOC Ltd. (CEO) Hits EPS of RMB1.43 in FY12; Updates on Progress
March 22, 2013 6:24 AM EDTCNOOC Limited (NYSE: CEO) announced its annual results for the 12 months ended December 31, 2012.
In 2012, the Company made outstanding achievements in exploration activities with breakthroughs in shallow water and deepwater offshore China as well as overseas. Among a total of 21 new discoveries and 19 successful appraisals of oil and gas structures, Penglai 9-1, Dongfang13-2 and Qinhuangdao 29-2/29-2 East all have the potential to be developed into large sized oil and gas fields. The Company's reserve replacement ratio amounted to 188% during the year.
The projects that were planned to come online in... More
