CNOOC<00883> - Unusual price movement

The Stock Exchange has received a message from CNOOC Limited which is
reproduced as follows:-

"                               CNOOC Limited  
(Incorporated in Hong Kong with limited liability under the Companies           
                                Ordinance)
                             (Stock Code: 883)

This statement is made at the request of The Stock Exchange of Hong Kong 
Limited.

The directors of CNOOC Limited (the "Company") have noted yesterday's 
increase in the price of the shares of the Company and wish to state that, 
save for the Company's announcement dated 22 June 2005 that it has 
proposed a merger with Unocal Corporation and the subsequent global media 
coverage this proposed transaction has received, the Board is not aware of 
any reasons for such increase.  

Save as disclosed above in relation to Unocal Corporation, the Board 
confirms that there are no negotiations or agreements relating to intended 
acquisitions or realisations which are discloseable under Rule 13.23 of 
the Listing Rules, and neither is the Board aware of any matter 
discloseable under the general obligation imposed by Rule 13.09 of the 
Listing Rules, which is or may be of a price sensitive nature.

Made by the order of CNOOC Limited, the Board of directors of which 
individually and jointly accept responsibility for the accuracy of this 
statement.

As at the date of this announcement, the Board comprises of: 

Executive Directors
Chengyu Fu (Chairman)
Han Luo
Shouwei Zhou
Guangqi Wu

Independent non-executive Directors:
Sung Hong Chiu
Professor Kenneth S. Courtis
Evert Henkes
Tse Hau Yin, Aloysius

By Order of the Board 
CNOOC Limited
Yunshi Cao
Company Secretary

Hong Kong, 29 June 2005"