The company's ability to reinvest capital at good rates of return is promising, and the stock may warrant further research. However, the stability of the returns, while unexciting, can provide nice rewards to shareholders if maintained over the long run.

A pessimistic sentiment surrounds Current's P/E ratio, suggesting that potential earnings improvement does not justify a higher P/E. Its inferior projected earnings growth compared to the market could prevent share price from significantly rising.

The company's good ROE compared to 7.2% industry average, and successful business investment seem to drive its notable earnings growth. Industry forecasts predict the company will maintain growth.

Despite changes being minimal, CNOOC Energy Technology & Services continues to demonstrate the ability to reinvest capital at good rates of return. The company's 10% ROCE and consistent performance over time holds the potential to yield appreciable share price returns.