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CANADIAN NATURAL RESOURCES LIMITED ANNOUNCES AGREEMENT

 CALGARY, April 15 /PRNewswire/ -- Canadian Natural Resources Limited announced that it has entered into an agreement with Bunting Warburg Inc., Burns Fry Limited, Midland Walwyn Capital Inc. and Gordon Capital Corporation to sell 2,000,000 common shares on a "bought deal" basis at a price of $27.50 per share for gross proceeds of $55,000,000. The sale of these shares is scheduled to close on May 11, 1993, subject to final documentation and appropriate regulatory approvals.
 The proceeds received from this issue will be applied to reduce Canadian Natural's outstanding bank indebtedness which was incurred in its ongoing oil and gas acquisition, exploration and development activities.
 -0- 4/15/93
 /CONTACT: Allan Markin, chairman, or John Langille, president of Canadian Natural Resources, 403-221-2100/


CO: Canadian Natural Resources Limited ST: Alberta IN: OIL SU: OFR

PS -- NY011 -- 6019 04/15/93 08:29 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
Words:146
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