Canadian Natural Completes Offering

Canadian Natural Resources Limited filed a short-form base shelf prospectus dated August 16, 2002, for the issuance of up to US$1 billion of debt securities under the multijurisdictional disclosure system.

On September 16, 2002, Canadian Natural completed the issue of US$350 million principal amount of 5.45 per cent notes due 2012 and US$350 million principal amount of 6.45 per cent notes due 2033. The offering was conducted in the U.S. pursuant to a supplement to the prospectus. The offering was underwritten by a syndicate of underwriters jointly led by Salomon Smith Barney and Lehman Brothers Inc.

Parlee McLaws LLP in Calgary represented Canadian Natural, with a team that included Ariane Young, Nancy Penner, Gordon Adams, Paul Mendes, Jim Thomson and Tom Ryder (tax). Paul, Weiss, Rifkind, Wharton & Garrison in New York acted as U.S. counsel to Canadian Natural, with a team that included Ted Maynard, Andrew Foley, Ian Putnam and Sheila Gibb. Shearman & Sterling in Toronto and New York represented the underwriters, with a team that included Brice Voran, Christopher Cummings, Adam Givertz and Jonathan Wisebrod.