The board of directors of China Oil And Gas Group Limited announced that Mr. Wang Wenhua ("Mr. Wang") will retire by rotation at the forthcoming annual general meeting (the "AGM") of the Company to be held pursuant to bye-law 87(1) of the bye-laws of the Company. Mr. Wang would like to spend more time pursuing his other business commitment, thus, it is confirmed that Mr. Wang will not offer himself for re-election at the AGM and will retire upon conclusion of the AGM. He will cease to be the chairman of each of the audit committee and the remuneration committee of the Company and a member of the nomination committee of the Company upon his retirement.