Canadian Natural Resources Prices C$400 Million in 7 Year Notes

Canadian Natural Resources (TSX: CNQ) has priced C$400 million principal amount of 4.50% unsecured notes due January 23, 2013 which have been sold to investors in Canada. The notes were sold at a price of 99.982 per note to yield 4.503% to maturity.

Net proceeds from the sale of the notes will be used to repay bank indebtedness. The Company is rated by three rating services: Baa1 by Moody's Investors Service, Inc.; BBB+ by Standard & Poor's Corporation; and BBB (high) by Dominion Bond Rating Service Limited. RBC Capital Markets was co-lead and bookrunner and CIBC World Markets acted as co-lead on the offering. BMO Nesbitt Burns and Scotia Capital acted as co-managers.

The sale of the notes was the first issuance under the short form Canadian base shelf prospectus dated August 29, 2005 which allows for the issuance of debt securities in an aggregate principal amount of up to C$2 billion.

Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore West Africa.


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