CHINA OILFIELD TECHNOLOGY SERVICES GROUP 
By
(Company Registration No. CT-189285)
China Oilfield Technology Services Group Limited (the "Company", and together with its subsidiaries, the "Group") was placed on the watch-list pursuant to Rule 1311 of the SGX Listing Manual on 5 March
2013.
Pursuant to Rule 1313(2) of the SGX Listing Manual, the Board of Directors (the "Board") of the
Company wishes to provide the update below in respect of the fourth quarter ended 31 December 2013.
Financial Position
Please refer to the announcement on 12 March 2014 of the unaudited financial statements of the Group for the financial year ended 31 December 2013, for an update on the Group's financial position as at 31
December 2013.
Material Development and Future Direction
As announced on 27 December 2013, the Company had entered into a conditional sale and purchase agreement with Mr Gao Yanming (the "Purchaser"), the Executive Chairman and controlling shareholder of the Company, pursuant to which the Company had agreed to dispose of all of its subsidiaries to the Purchaser (please refer to the announcement on 27 December 2013 for further details).
The Company will convene an extraordinary general meeting to seek the approval of shareholders for the aforesaid disposal shortly. Following the completion of the aforesaid disposal, if approved, the Company will actively seek to acquire a new profitable business and/or procure new investor(s), with a view to ultimately applying to the SGX for the Company's removal from the SGX watch-list.
By Order of the Board
Gao Yanming
Executive Chairman
12 March 2014
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