CNR International Limited Announces The Signing Of A Sale And Purchase Agreement For The Sale Of The B-Block Area To Oilexco

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AUGUST 15, 2007

CNR International (U.K.) Limited (“CNRI”), a wholly owned subsidiary of Canadian Natural Resources Limited (“Canadian Natural”), announces that it has entered into a Sale and Purchase Agreement with Oilexco North Sea Limited (“Oilexco”) for the disposal, subject to government and partner consents, of CNRI’s entire working interest in the Balmoral, Stirling and Glamis Fields (“B-Block”). In calendar year 2006, the B-Block produced approximately 1,800 barrels of oil per day, net to CNRI, representing approximately 0.3% of Canadian Natural’s current production, at an operating cost of approximately C$50 per barrel.

Commenting on the disposal of these properties, CNRI Vice President and Managing Director Terry Jocksch said, “This is a deal that makes sense for both parties, since, following the start up of production from the Oilexco operated Brenda Field, the majority of liquids being processed by the Balmoral Floating Production Vessel (“FPV”) is now Oilexco production. This transaction allows CNRI to focus our efforts on higher netback production in the North Sea and Offshore West Africa while allowing Oilexco to operate and control the Balmoral FPV for their own operations.”

CNRI operates numerous other properties in the North Sea and Mr. Jocksch indicated that ”we have plans to continue to invest and develop our North Sea assets and will continue to deliver value and growth in the North Sea through our defined exploitation strategy. In addition, we have significant development activities underway in Côte d’Ivoire and Gabon which are also managed through our offices in Aberdeen, Canadian Natural’s international and offshore centre of excellence.”

Notes to Editor:
With daily production before royalties in excess of 610,000 barrels of oil equivalent per day, Canadian Natural is one of the largest independent crude oil and natural gas production companies in the world, focused on ongoing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and offshore West Africa.
Canadian Natural’s wholly-owned subsidiary, CNRI, controls all international operations from its offices in Aberdeen. This centre of excellence employs approximately 350 staff and contract employees, and manages country offices located in Abidjan, Côte d’Ivoire and Libreville, Gabon.

In the North Sea, CNRI operates 99% of its production and has an average working interest of 80%. Its operations are focused around four hubs, Ninian, Murchison, Banff and T-Block, which provide a strong basis for future exploitation and near-pool exploration.

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