We can see from the later market performances that CNOOC has chosen a very good opportunity to withdraw,

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.

We are bound together with most of the oilmen in this room.

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