ChinaOilField - SHORT ?? hee...

Invitation in respect of 211,607,000 Shares of HK$0.50 each comprising 127,500,000 New Shares and 84,107,000 Vendor

Shares as follows:-

(i) 3,228,000 Offer Shares at $0.60 each by way of public offer; and

(ii) 208,379,000 Placement Shares at $0.60 each by way of placement,

payable in full on application.

The Board of Directors of CHINA OILFIELD TECHNOLOGY SERVICES GROUP LIMITED (the ?Company?) is pleased to announce that, as at the close of the

Application List at 12 noon on 15 October 2007, there were 52,279 valid applications for 3,228,000 Offer Shares available to the public for subscription and/or purchase.

In total, these applicants applied for an aggregate of 1,910,658,000 Offer Shares, with application monies received amounting to approximately $1,146.4 million.

Based on the total invitation size of 211,607,000 Invitation Shares and total valid applications for 2,118,949,000 Shares (comprising valid applications received for

1,910,658,000 Offer Shares and 208,291,000 Placement Shares), the Invitation was approximately 10.0 times subscribed.

To ensure a reasonable spread of shareholders, the Board of Directors of the Company has decided on the following basis of allotment/allocation for the Offer Shares:-

Range of Offer No. of Offer Shares Allotted/Allocated Percentage of Total No. of Offer No. of Successful

Shares Applied for Balloting Ratio per Successful Applicant Shares Available to the Public Applicants

(?000) (%)

1 to 9 1 : 99 1 5.70 189

10 to 49 2 : 99 2 26.36 437

50 to 99 4 : 99 2 11.64 193

100 to 499 6 : 99 3 33.74 373

500 to 999 8 : 99 7 9.29 44

1,000 and above 13 : 99 11 13.27 40

100.00 1,276

Of the applications received for the 208,379,000 Placement Shares, applications in respect of an aggregate of 88,000 Placement Shares were invalid. These 88,000

Placement Shares were therefore included as Offer Shares made available for subscription by the public. The spread of placees for the remaining 208,291,000

Placement Shares successfully applied for is as follows:-

Range of Placement Shares Applied for No. of Placees

(?000)

1 to 9 492

10 to 49 131

50 to 99 49

100 to 499 90

500 to 999 18

1,000 and above 25

805

Pursuant to Rule 240 of the Singapore Exchange Securities Trading Limited (?SGX-ST?) Listing Manual (?Rule 240?) and to the best of the Manager?s knowledge and

belief, after having taken all reasonable steps to obtain the necessary confi rmations from the parties specifi ed under Rule 240 and to ensure accurancy of the same,

the following parties have applied for and have been allotted/allocated Placement Shares:

Name of Holder Relationship

No. of Placement Shares

allotted/allocated

Circumstances giving rise

to the allotment/allocation

Asia Fountain

Investment Co Ltd

Asia Fountain Investment Co Ltd is a subsidiary of Guoco Group Limited (?GGL?). GGL

is a substantial shareholder of Hong Leong Bank Berhad (?HLB?), whose Singapore

Branch is the Manager, Underwriter and Placement Agent for the initial public offering

of the Company

25,000,000 Allotted/allocated under the

Placement Tranche

Republic Investment

Management Pte Ltd

Republic Investment Management Pte Ltd is an associated company of Kim Eng

Holdings Limited, which is the parent company of Kim Eng Securities Pte Ltd, the

Principal Sub-Placement Agent.

1,000,000 Allotted/allocated under the

Placement Tranche

Save as disclosed above, to the best knowledge and belief of the Manager, the Manager is not aware of any other parties specifi ed under Rule 240 who were allotted/

allocated the Invitation Shares. Should it subsequently come to the attention of the Manager that there are such persons or institutions specifi ed under Rule 240 who

have been allotted/allocated the Invitation Shares, an appropriate announcement, via SGXNET, will be made before trading commences on 17 October 2007.

In addition to Asia Fountain Investment Co Ltd, the following institutions have been allotted/allocated 5% or more of the Invitation Shares:-

Name of Holder No. of Placement Shares Circumstances giving rise to the allotment/allocation

CITIC United Asia Investments Limited 10,600,000 Allotted/allocated under the Placement Tranche

Chua Ma Yu 10,888,000 Allotted/allocated under the Placement Tranche

Dubai Investment Group Limited 10,600,000 Allotted/allocated under the Placement Tranche

IDAM China Multi-Strategy Fund 36,000,000 Allotted/allocated under the Placement Tranche

JF Asset Management (Singapore) Limited 10,600,000 Allotted/allocated under the Placement Tranche

Opis Asset Management Pte Ltd 18,000,000 Allotted/allocated under the Placement Tranche

The Company?s Shares are expected to commence trading on a ?ready? basis at 9.00 a.m. on 17 October 2007. There will be NO trading on a ?when-issued? basis.