(This is an older valuation I did for Seeking Alpha)
What it Does:
CNOOC Limited, incorporated on August 20, 1999, is an investment holding company. The company, through its subsidiaries, is engaged in the exploration, development, production and sales of crude oil and natural gas and other petroleum products. It is a producer of offshore crude oil and natural gas. It has four production areas in offshore China, which are Bohai Bay, Western South China Sea, Eastern South China Sea and East China Sea. In addition, the company is also an offshore crude oil producer in Indonesia. The company also has upstream assets in Nigeria, Australia and some other countries. As of December 31, 2009, the company owned net proved reserves of approximately 2.66 billion barrels of oil equivalent (BOE), and its average daily net production was 623,896 BOE. Its subsidiaries include CNOOC China Limited, CNOOC International Limited, China Offshore Oil (Singapore) International Pte Ltd, CNOOC Finance (2002) Limited and CNOOC Finance (2003) Limited (per Reuters).
Read the full valuation at Seeking Alpha
Excellent post. Most investors just stick with household names never getting into the lesser known names which in many cases will provide much better returns. The company in the post is a good example.
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