Canadian Natural Resources Limited North Sea Activity Update.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--April 11, 2001 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") (NYSE NYSE See: New York Stock Exchange :CED (Capacitance Electronic Disc) An earlier videodisc technology from RCA that was released in 1981 and abandoned five years later. Like phonograph records, the analog disc contained grooves that a stylus rode over. )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CNQ CNQ Cost of Non Quality CNQ Canadian Trading & Quotation System Inc. CNQ Club Neon Quebec (Quebec Neon Club) .) announces that oil and natural gas production in Ranger Oil (U.K.) Limited ("Ranger"), a wholly-owned subsidiary of Canadian Natural, commenced from two of its fields in the central portion of the North Sea core area. The Kyle field, in which Ranger is the operator with a 40% working interest, commenced production from two wells on April 7, 2001. Production is processed through leased floating production, storage and offtake vessel ("FPSO FPSO Floating Production Storage and Off-loading (shipping & oil industry) FPSO Foster Parent Society of Ontario FPSO Fleet Publication Supply Office ") facilities located at the Curlew curlew (kûr`l  ), common name for large shore birds of both hemispheres, generally brown and buff in color and with decurved bills. field, 18 kilometres south of Kyle. Production, net to Canadian Natural, will stabilize in excess of 7,000 barrels of light gravity oil per day and five million cubic feet of natural gas per day. The natural gas is transported through an existing pipeline system to markets onshore the United Kingdom. The Kyle field produced 1.5 million barrels of oil during the summer of 2000 on an extended well test from a single well. A further one or two development wells will be drilled in the field over the next year. At the Banff field, in which Ranger has a 26.2% working interest, production was resumed on March 28, 2001. The Banff field was initially placed on production in February, 1999 but encountered production shut downs due to operational conditions with the leased Ramform FPSO at the Banff field. The owner of the Ramform FPSO removed the vessel from the field in September, 2000 to make modifications and repairs to the vessel. Production, net to Canadian Natural's working interest, from the Banff field will be 6,000 barrels of light gravity oil per day and two million cubic feet of natural gas per day. Canadian Natural is a senior exploration and production company, with operations focused in Western Canada, 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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