08:53     CNOOC<00883> - Results Announcement (2)                             

    3. EARNINGS PER SHARE                                                     
                                                                              
                                            2004            2003              
                                                                              
    Earnings:                                                                 
    Net profit attributable to shareholders, used   in the basic and diluted  
    earnings per share calculations  RMB 16,185,778,000     RMB 11,535,490,000
                                    ==========================================
                                                                              
    Number of shares (after stock split):                                     
    Weighted average number of ordinary shares                                
    for the purpose of basic earnings per share                               
    before effects of shares repurchased  41,070,828,275    41,070,828,275    
                                                                              
                                                                              
    Effect of shares repurchased         (10,587,616)       -                 
                                         ---------------                      
                                                                              
    Weighted average number of ordinary shares       for the purpose of basic 
    earnings per share                   41,060,240,659     41,070,828,275    
                                                                              
                                                                              
    Effect of dilutive potential ordinary shares                              
       under the share option scheme                                          
                                            66,720,503      39,510,820        
                                                                              
    Effect of dilutive potential ordinary shares                              
       for convertible bonds                52,552,274      -                 
                                            --------------------------------- 
                                                                              
    Weighted average number of ordinary shares                                
       for the purpose of diluted earnings per share                          
                                            41,179,513,436   41,110,339,095   
                                            ================================= 
    Earnings per share - Basic              RMB0.39          RMB0.28          
                                            ================================= 
                              - Diluted     RMB0.39          RMB0.28          
                                            ================================= 
                                                                              
    For more details, please refer to the press announcement today.