CALGARY, ALBERTA--(CCNMatthews - Sept. 13, 2005) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural") today announced that it has entered into an agreement to sell 3,858,520 trust units of Freehold Royalty Trust ("Freehold") to a group of underwriters at a price of $18.50 per unit. Following the closing of the transaction, which is expected to occur on September 19, 2005, Canadian Natural will no longer hold any interest in Freehold.
The underwriting syndicate was led by RBC Capital Markets, and included CIBC World Markets Inc., Scotia Capital Inc., FirstEnergy Capital Corp. and Peters & Co. Limited. Canadian Natural understands that the underwriters intend to re-sell the Freehold trust units through the facilities of the Toronto Stock Exchange.
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.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Natural Resources Limited
Allan P. Markin
Chairman
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
John G. Langille
Vice-Chairman
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Steve W. Laut
President and Chief Operating Officer
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Douglas A. Proll
Chief Financial Officer and Senior Vice-President, Finance
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Corey B. Bieber
Vice-President, Investor Relations
(403) 514-7777
(403) 517-7370 (FAX)
Email: ir@cnrl.com
Website: www.cnrl.com
Canadian Natural Resources Limited
2500, 855 - 2nd Street S.W.
Calgary, Alberta
T2P 4J8
