CNOOC will become more active in exploring offshore China and overseas in 2006.

We are confident that tight and well-scheduled operations with sufficient capital expenditure will lead to more solid growth in reserves and production, securing stronger long-term growth for the company.

We hope (the) oil price will stay as high as today. The company will keep the production growth and contain costs (in the second half).

We're moving very fast on drilling projects, to access the potential reserves.

Fluctuations in international oil prices are beyond China's control. We can only make sure the supply and production remain stable.

Many factors, including politics, are keeping the price up. It would be hard for oil prices to fall below US$50 a barrel this year.