CNOOC landed in Canadian capital market

CNOOC has honoured its commitment to listing in Canada following the completion of a takeover of the Canadian oil and gas company Nixon in February this year. CNOOC announced that the Toronto Stock Exchange had approved the company's US Depository Receipts (ADRs) on a multiple exchange listing on September 18 in Hong Kong time. CNOOC will be listed in the mainland, Hong Kong, the United States and Canada four. ADR is usually used for foreign-issued securities to be traded in the United States. The ADR issued in the case of the exchange is traded in the same form and the currency of the transaction is Canadian dollar. A CNOOC ADR is equivalent to 100 shares of common stock issued in Hong Kong. In addition, under a resolution of the Alberta and Ontario Prov. Securities Regulatory Commission, CNOOC has been exempted from complying with the various disclosure requirements set out in the Canadian national Oil and gas reserves assessment standard 51-101, allowing CNOOC to comply with a series of "US rules" such as the Securities and Exchange Commission and the U.S. Securities and Exchange Act. To provide the company's oil and gas operations. This suggests that CNOOC's future disclosure of oil and gas activities will comply with U.S. rules, not Canadian rules. CNOOC Management believes that after the Nixon acquisition, Canada has become an important investment place for CNOOC. The listing at the multi-stock exchange shows that the company has continued to perform a transparent and good corporate governance commitment in its country of operation.