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All material on this website is protected by copyright. The material may be used and copied for non-commercial, personal or educational purposes, provided this material is not modified and that copyright or trademark notices are not deleted. Any other use of this material without Nexen's written permission is prohibited.
Except as otherwise noted, the trademarks and logos displayed on this website belong to Nexen and may not be used without Nexen's written permission. Written permission is also required to use any third-party trademark displayed on this website.
Website is Provided as a Service Only
This website is not intended as a solicitation or offering of securities in any jurisdiction. The information on this website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Nexen and should not be used for the purpose of making investment decisions.
Currency of Website
Nexen updates the information on this website regularly. However, Nexen cannot guarantee the accuracy, currency or completeness of the information at all times.
Nexen Not Responsible for Linked Websites
Nexen provides links to third-party websites for your convenience only and the inclusion of these links does not imply that Nexen monitors or endorses these websites. Accordingly, Nexen accepts no responsibility for such websites.
Nexen Not Responsible for Internet Software or Computer Viruses
Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of information contained on this website. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. Nexen shall not be liable for Internet software, computer viruses or destructive programs and recommends that users install appropriate anti-virus or other protective software.
Exclusion of Liability
Nexen shall not be liable for any claims, expenses, damages (including direct, indirect, special or consequential damages), loss of profits, opportunities or information arising from:
- the use of or reliance on information contained in this website;
- any inaccuracy or omission in such information or failure to keep the information current;
- use of any third-party websites linked to this website;
- any Internet software used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website; and
- any other matter connected with this website; even if Nexen is made aware of the possibility of such claims, expenses, damages or losses.
Please feel free to e-mail Nexen at Corporate Communications. Please be aware, however, that the Internet is not a fully secure medium and any communication may be lost, intercepted or altered. Nexen is not liable for any damages related to communications to or from this website. Users agree with respect to any information provided to Nexen through this website that:
- Nexen has no obligation concerning such information;
- the information is non-confidential;
- Nexen may use, disclose, distribute or copy the information and may use any ideas, concepts or know-how contained in the information for any purpose; and;
- the information is truthful and disclosure of the information does not violate the legal rights of others.
This website 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 prospects 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 analyses made by Nexen Energy ULC (Nexen), a wholly owned subsidiary of CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) in light of its or their experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Nexen or the Company believes reasonable under the circumstances. However, whether actual results and developments will meet Nexen’s or 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 Nexen or the Company can be completed 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.
Reserves and Resources
Our reserves estimates were prepared with an effective date of December 31, 2012. Our oil sands and shale gas resource estimates were prepared on September 30, 2010 (press release dated November 15, 2010) while our Appomattox resource estimates were prepared on March 31, 2012 (press release dated April 2, 2012). These estimates have been internally prepared by an internal qualified reserves evaluator in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook"). For more information on this reserves estimate and Nexen's reserves estimation process please refer to our 2012 Annual Information Form. Both our Annual Information Form and news releases are available at www.nexencnoocltd.com and www.sedar.com.
Conversions of gas volumes to boe in these estimates were made on the basis of 1 boe to 6 mcf of natural gas. A boe conversion ratio of 6 mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Using the forecast prices applied to our reserves estimates, the boe conversion ratio based on wellhead value is approximately 30 mcf:1 bbl. Disclosure provided herein in respect of boes may be misleading, particularly if used in isolation.