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COSL Reverse Roadshow “ COSL94 1”

COSL Reverse Roadshow “ COSL94 1”. CHINA OILFIELD SERVICES LIMITED. 30 May 2006. Introduction. “COSL941” – Its first locally built 400-f oo t jack-up rig in the PRC – officially delivered in Dalian on May 31, 2006

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COSL Reverse Roadshow “ COSL94 1”

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  1. COSL Reverse Roadshow “COSL941” CHINA OILFIELD SERVICES LIMITED 30 May 2006

  2. Introduction • “COSL941” – Its first locally built 400-foot jack-up rig in the PRC – officially delivered in Dalian on May 31, 2006 • The construction project was jointly implemented by COSL and the U.S.-based FGL Buyer LLC • Major equipments, power station, and drilling machine engine facilities in “COSL941” are provided by National Oilwell Varco, Caterpillar, and Siemens, respectively

  3. “COSL941”

  4. About “COSL941” • Market Overview • Conclusion

  5. About “COSL941” The total investment cost of the“COSL941” is over USD135 million. It is the first jack-up rig in the world applying frequency variation engine technology for drilling machine, representing the realization of “Zero Discharge”.“COSL 941” bears equipment of advanced international standards, thus it is believed that the performance of the jack-up rig will be highly enhanced.

  6. About “COSL941” • Market Overview • Conclusion

  7. Market Overview • Currently, there are 13 400-foot jack-up rigs operating around the world, 2 new vessels to be delivered in 2006（These being “COSL941” and “WilCraft” of Premium Drilling） • As the “COSL941”’s new equipment needs to be worn in, its first contracted operation will be in the PRC • Increment of 90% ~ 94% in day rate, compared with average rate of COSL’s jack-up rigs in 2005

  8. About “COSL941” • Market Overview • Conclusion

  9. Conclusion • “COSL941” is the largest investment project since COSL’s listing, the excellent performance capabilities of “COSL941” enables it to easily adapt to drilling environments around the world, bringing new dynamics to the Company’s “International Strategy” • Second jack-up in building&implementation stage, bringing world-leading drilling equipments to COSL in the near future, improving performance in terms of service and service areas, and becoming a top-notch energy services provider in the international market COSL is committed to maximizing shareholder value

  10. Thank You www.cosl.com.cn

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