<P><FONT size=5>Lehman Bro 雷曼兄弟：中国石油　</FONT></P>
<P><FONT size=5>February 01, 2007　　　９页     英文    pdf</FONT></P>
<P><FONT size=5>PetroChina (0857.HK - HKD 9.57) 2-Equal weight  Change of Earnings Forecast Lowering 07 EPS on lower oil price assmp</FONT></P>
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<P><FONT size=4>Investment Conclusion<BR>We are lowing our 07E earnings by 1% in relation to our revised crude oil price forecast. Our oil economist has lowered his 2007E full year crude oil price forecast to US$68.5/bbl from US$71/bbl, but maintaining 08E forecast at US$76/bbl</FONT></P>