Nexen Files Universal Shelf Prospectus

Nexen Inc. has filed a preliminary universal shelf prospectus with the Securities and Exchange Commission in the United States under the Multi Jurisdictional Disclosure System and with securities commissions in Canada. The shelf prospectus allows for the offering of up to US$2.5 billion of common shares, Class A preferred shares, senior debt securities, subordinated debt securities, subscription receipts, and/or debt and equity warrants in the United States or Canada until June 2009.

"This normal course update of our shelf prospectus will allow Nexen to access capital markets on a timely basis in the future," said Marvin Romanow, Executive VP and Chief Financial Officer.

Nexen Inc. is an independent, Canadian-based global energy company that is positioned for growth in the North Sea, deep-water Gulf of Mexico, the Athabasca oil sands of Alberta, Middle East and offshore West Africa.