Canadian Natural Resources Limited Announces Update to Corporate Management Team.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--March 11, 2003 Canadian Natural Resources Limited Canadian Natural Resources Limited TSX: CNQ NYSE: CNQ is an oil and natural gas exploration, development and production company based in Calgary, Alberta. Operations are focused in Western Canada, the North Sea and offshore West Africa. ("Canadian Natural" or the "Company") (NYSE NYSE See: New York Stock Exchange :CNQ CNQ Cost of Non Quality CNQ Canadian Trading & Quotation System Inc. CNQ Club Neon Quebec (Quebec Neon Club) )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CNQ) is pleased to announce two new senior management appointments. These appointments reflect the ongoing growth and expansion of Canadian Natural's operations, both in its Canadian operations and its operations outside of Canada. Canadian Natural has appointed Mr. Steve Laut to the newly created position of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. where Mr. Laut will oversee Canadian Natural's ongoing operational activities. In this role, he will be responsible for the Company's Canadian and International conventional oil and natural gas operations through acting as Chairman of an operating committee comprised of the Company's Vice-Presidents of Exploration, Exploitation and Production. Mr. Laut will also continue to oversee the ongoing development of the Horizon Project, the Company's oil sands mining operation. Mr. Laut joined Canadian Natural in 1991, has held various positions of increasing responsibility since that time and has over 23 years experience in the oil and natural gas business. The second appointment is Mr. Martin Cole as Vice-President and Managing Director, International. Mr. Cole will be responsible for management of the daily operations of Canadian Natural in the North Sea and offshore West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Mr. Cole will chair the Company's International Management Committee and will be located in Canadian Natural's International headquarters office, recently re-located to Aberdeen, Scotland. In 1997, Mr. Cole joined Ranger Oil, a predecessor to Canadian Natural and has held various positions since that time. He has over 33 years experience in international oil and natural gas exploration and development. Canadian Natural is a senior oil and natural gas production company, with continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the 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. |
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