Canadian Natural Prices C$400 Million in 3 Year Notes

Canadian Natural Resources Limited has priced C$400 million principal amount of 5.50% unsecured notes due Dec. 17, 2010, which have been sold to investors in Canada. The notes were sold at a price of C$99.951 per note to yield 5.518% to maturity.

Net proceeds from the sale of the notes will be used to repay bank indebtedness. RBC Capital Markets was co-lead and sole bookrunner, and Scotia Capital acted as co-lead on the offering. BMO Capital Markets and CIBC World Markets acted as co-managers.

The sale of the notes was the first issuance under the short form Canadian base shelf prospectus dated September 25, 2007 that allows for the issuance of debt securities in an aggregate principal amount of up to C$3 billion.


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