CNOOC Ltd (NYSE: CEO) -- as of 12/31/06, CEO owned net proved reserves of approximately 2.53 billion barrels of oil.
CEO closed at $180.67 Thursday.
WTI Crude Futures are up 1.65% to $125.73 according to Bloomberg.
CEO over all option implied volatility of 39 is below its 26-week average of 47 according to Track Data, suggesting decreasing risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










