text: in cash and drilling carries. This was CNOOC’s second investment with 
  Chesapeake and its second investment in the U.S. onshore E&P industry. 
  We are currently drilling with five rigs in this play and expect to acceler- 
  ate our drilling to 15 rigs by year-end 2013. We believe our leasehold 
  position could support the drilling of up to 7,600 additional net wells. 
  
  the company. We have acquired approximately 600,000 net leasehold 
  acres prospective for these plays and have drilled 75 net wells to date. 
  We are currently using eight rigs and believe our leasehold could sup- 
  port the drilling of up to an additional 3,700 net wells. 
  
  The Mississippian fractured carbonate is primarily an oil play and is 
  located on the Anadarko Basin shelf of northern Oklahoma and southern 
  Kansas. We have acquired approximately 900,000 net leasehold acres 
  prospective for this play and have drilled 40 net wells to date. We are 
  currently using four rigs and believe our leasehold could support the 
  drilling of up to an additional 6,000 net wells. This is an area where we 
  anticipate bringing in a joint venture partner later in 2011 or in early 2012. 