China Oilfield Services Limited : Lapse of CSRC Approval for A Share Issue

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(Incorporated in the People's Republic of China as a joint stock limited liability company)

(Stock Code: 2883) ANNOUNCEMENT LAPSE OF CSRC APPROVAL FOR A SHARE ISSUE

This announcement is made pursuant to Rule 13.09(1) of the Listing Rules.
The Company wishes to announce that the CSRC Approval for the Company to issue A Shares has lapsed.
This announcement is made by China Oilfield Serviced Limited (the "Company") pursuant to Rule
13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited
(the "Listing Rules").
Reference is made to the circulars of the Company dated 11 May 2010, 21 January 2011 and 6 April
2011 and the announcements of the Company dated 28 June 2010, 8 March 2011, 23 May 2011 and 22
July 2011 in relation to the proposed A Share Issue. Unless otherwise provided, capitalised terms used in this announcement shall have the same meanings as those defined in the circular of the Company dated
11 May 2010.
On 20 July 2011, CSRC has approved the application of the Company (the "CSRC Approval") to issue not more than 500,000,000 A shares. The CSRC Approval has a validity of six months. Owing to market conditions, the Company has not been able to conduct the A Share Issue within the six months period of the CSRC Approval. Accordingly, the CSRC Approval has lapsed and the proposed A Share Issue has ceased.
As some of the projects which the proceeds from the proposed A Share Issue were originally intended have already been completed and operational, and the other projects are progressing smoothly, the Board does not consider that the termination of the proposed A Share Issue will have any adverse effect on the financial position or operation of the Company.
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In consideration of the future development of the Company, the Company will not rule out the possibility of fund raising activities in the future. The Company will comply with the disclosure and other requirements in law and the Listing Rules if the Company will conduct such further fund raising exercises.
By order of the Board

China Oilfield Services Limited Yang Haijiang

Company Secretary

20 January 2012

As at the date of this announcement, the executive directors of the Company are Messrs. Li Yong and Li Feilong; the non-executive directors of the Company are Messrs. Liu Jian (Chairman) and Wu Mengfei; and the independent non-executive directors of the Company are Messrs. Tsui Yiu Wa,Fong Wo,Felix and Chen Quansheng.

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