SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------- FORM 6-K --------------- REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For June 26, 2002 CNOOC Limited (Translation of registrant's name into English) ------------------------------------------------ 65th Floor Bank of China Tower One Garden Road Central, Hong Kong (Address of principal executive offices) ------------------------------------------------ (Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F) Form 20-F X Form 40-F --------- ---------- (Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.) Yes No X --------- ---------- (If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A.) Company Press Release --------------------- CNOOC announces successful appraisal wells in Bohai Bay (Hong Kong, June 26, 2002) - CNOOC Limited (the "Company", SEHK: 883; NYSE: CEO) announced today that it had completed two successful appraisal wells, LD4-2-1 and LD5-2-1, in the Bohai Bay. LD4-2-1, drilled on LD4-2 discovery made by wildcat SZ 36-1W-2 earlier, is located about 5-6 km southwest of SZ36-1 oil field. The well flew 1,000 barrels of 24-26(degree) API crude during drill stem tests. LD5-2-1, 2 kilometers west of the SZ36-1oil field, is an appraisal on LD 5-2 discovery made by wildcat SZ36-1-11. The well flew over 200 barrels of 14.7-16(degree) API crude. "Our cluster exploration program is delivering positive results evidenced by these two successful appraisal wells, their proximity to existing facilities will help the economics via synergy", said Mr. Ru Ke, Executive Vice President of the company. The Company was the operator of these two appraisal wells independently and has the total interest. Notes to Editors: CNOOC LIMITED - BACKGROUND Incorporated in Hong Kong in August 1999, the Company is the dominant producer of crude oil and natural gas offshore China. The Company is also one of the largest independent crude oil and gas exploration and production companies in the world. As of December 31, 2001, its net proved reserves were 1.8 billion barrels-of-oil equivalents and its net production totaled 261,379 BOE per day. The Company has interests in 45 crude oil and gas properties in four major producing areas offshore China: Bohai Bay, Western South China Sea, Eastern South China Sea and East China Sea. The Company is a major oil and gas company in China with approximately 1,080 employees. CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY The Company is a 70.6% held subsidiary of China National Offshore Oil Corporation ("CNOOC"). The Company is the sole vehicle through which CNOOC carries out oil and gas exploration, development and production activities offshore China and internationally. CNOOC, the parent company, is involved in the administrative, research, and services functions for the PRC offshore petroleum industry as well as other mid- or down-stream petroleum projects. *** *** *** This press release contains statements that are not historical facts, including statements about beliefs and expectations of the directors of the Company. These forward-looking statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and the directors of the Company undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. You are cautioned that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, changes of the PRC's economic, political and social conditions as well as government policies. *** *** *** For further enquiries, please contact: Mr. Xiao Zongwei CNOOC Limited Tel: +86 10 8452 1646 Fax: +86 10 8452 1441 E-mail: xiaozw@cnooc.com.cn ------------------- Ms Anne Lui/ Mr. Henry Chua Ketchum Newscan Public Relations Tel: 852-3141-8016/ 852-3141-8082 Fax: 852-2510-8199 E-mail: anne.lui@knprhk.com ------------------- henry.chua@knprhk.com --------------------- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be issued on its behalf by the undersigned, thereunto duly authorized. CNOOC Limited By: /s/ Cao Yunshi ----------------------- Name: Cao Yunshi Title: Company Secretary, General Counsel and Senior Vice President Dated: June 26, 2002