HONG KONG, Sept. 18, 2013 /CNW/ - CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883) announced that the Toronto Stock Exchange (TSX) has
approved the listing of the Company's American Depositary Receipts
(ADRs) on the TSX at the opening of the market today. The Company's
listing symbol is CNU.
Mr. Wang Yilin, Chairman of the Company commented, "Trading on the TSX
isn't just about broadening our shareholder base. It also provides
investors with more choices in terms of exchange venues and currencies.
We strive to demonstrate how CNOOC Limited works to create great value
to our shareholders and stakeholders."
Mr. Li Fanrong, CEO of the Company commented, "Canada became an
important investment destination for CNOOC Limited following our
acquisition of Nexen. Listing on the TSX represents our continuous
commitment to maintaining transparency and good corporate governance in
the countries where we operate."
CNOOC Limited trades common shares on the Hong Kong Stock Exchange
(code: 00883). On the New York Stock Exchange (NYSE), the ADRs are
traded under the symbol CEO. ADRs are commonly used by foreign public
issuers to enable trading of securities in the United States. The ADRs
listed on the TSX are the same instruments as those listed on the NYSE,
but are denominated in Canadian rather than U.S. dollars. One CNOOC
Limited ADR is the equivalent of 100 common shares of CNOOC Limited.
Advisory Regarding Reserves Data and Other Oil and Gas Information
CNOOC Limited also wishes to advise that pursuant to a decision (the
"Decision") of the Alberta and Ontario securities regulatory
authorities, the Company has been granted exemptive relief from the
disclosure requirements contained in National Instrument 51-101 -
Standards of Disclosure for Oil and Gas Activities ("NI 51-101"),
including the obligation to file Form 51-101F1 Statement of Reserves
Data and Other Oil and Gas Information, Form 51-101F2 Report on
Reserves Data by Independent Qualified Reserves Evaluator or Auditor
and Form 51-101F3 Report of Management and Directors on Oil and Gas
Disclosure. In lieu of such filings, the Decision permits CNOOC Limited
to provide disclosure with respect to its oil and gas activities in
accordance with the disclosure requirements applicable to CNOOC Limited
imposed by the United States Securities Exchange Commission (the
"SEC"), the United States Securities Exchange Act of 1933, the United
States Securities Exchange Act of 1934, the United States
Sarbanes-Oxley Act of 2002 and the rules of the New York Stock Exchange
(collectively, the "U.S. Rules").
Readers should be aware that CNOOC Limited's future disclosure relating
to its oil and gas activities will comply with the U.S. Rules rather
than NI 51-101 and the Canadian Oil and Gas Evaluation Handbook. The
U.S. Rules differ in a number of respects from the disclosure otherwise
required under NI 51-101 and the Canadian Oil and Gas Evaluation
Handbook and readers are urged to consider these differences when
considering all future disclosures made by CNOOC Limited relating to
its oil and gas activities.
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 "expect",
"anticipate", "continue", "estimate", "objective", "ongoing", "may",
"will", "project", "should", "believe", "plans", "intends" 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, whether the
transactions entered into by the Company can complete on schedule
pursuant to its timetable or at all, 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 2012 Annual Report
on Form 20-F filed on April 24, 2013.
Consequently, all of the forward-looking statements made in this press
release are qualified by these cautionary statements. The Company
cannot assure that the 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.
SOURCE Nexen Inc.