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

COSL Reverse Roadshow

“COSL941”

COSL Reverse Roadshow

“COSL941”

30 May 200630 May 2006CHINA OILFIELD SERVICES LIMITEDCHINA OILFIELD SERVICES LIMITED

2

• “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

Introduction

3

“COSL941”

4

About “COSL941”

Market Overview

Conclusion

5

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 dril

ling 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.

Technology COSL941 PRC Platforms(Highest Current Configuration)

Operation depth 400 ft 300 ft

Drilling depth 30,000 ft 20,000 ft

Cantilever length 75ft×30 ft 60ft×24 ft

High-temperature and high-pressure drilling capacity

Equipped Not equipped

About “COSL941”

6

About “COSL941”

Market Overview

Conclusion

7

• 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

Market Overview

8

About “COSL941”

Market Overview

Conclusion

9

• “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 valueCOSL is committed to maximizing shareholder valueCOSL is committed to maximizing shareholder valueCOSL is committed to maximizing shareholder value

Conclusion

10

Thank You Thank You

www.cosl.com.cn www.cosl.com.cn