CALGARY, Alberta, March 28, 2013 /PRNewswire/ --
Nexen Inc. ("Nexen") announced today that it has completed the
previously announced redemption of all of its 7.35% Subordinated
Notes due 2043. The redeemed Subordinated Notes have been cancelled
and will be de-listed from the TSX at the close of markets on
March 28, 2013 and from the NYSE
effective on or about April 8,
2013.
About Nexen
Nexen Inc. is a wholly-owned subsidiary of CNOOC Limited. Nexen is
an upstream oil and gas company developing energy resources in some
of the world's most significant basins including the UK North Sea,
offshore West Africa, the
Gulf of Mexico and Western Canada. Nexen is strategically focused
on three businesses: conventional oil and gas, oil sands and shale
gas.
Forward-Looking Statements
Certain statements in this Release
constitute "forward-looking statements" (within the meaning of the
United States Private Securities Litigation Reform Act of 1995, as
amended) or "forward-looking information" (within the meaning of
applicable Canadian securities legislation). Such statements or
information (together "forward-looking statements") are generally
identifiable by the forward-looking terminology used such as
"will", "intends", "expect", "should" or other similar words. Any
statements as to the de-listing of the Subordinated Notes from the
TSX and the NYSE and timing in respect to such de-listings are
forward-looking statements.
Forward-looking statements are
subject to known and unknown risks and uncertainties and other
factors, many of which are beyond our control and each of which
contributes to the possibility that our forward-looking statements
will not occur or that actual results and achievements may differ
materially from those expressed or implied by such statements. Such
factors include, among others: the possible failure of Nexen to
complete the de-listings of the Subordinated Notes on the proposed
timeline for such de-listings. These risks, uncertainties and other
factors and their possible impact are discussed more fully in the
sections titled "Risk Factors" in our 2012 Annual Information Form
and "Quantitative and Qualitative Disclosures About Market Risk" in
our 2012 annual MD&A.
All of the forward-looking statements
in this Release are qualified by the assumptions that are stated or
inherent in such forward-looking statements. Although we believe
that these assumptions are reasonable based on the information
available to us on the date such assumptions were made, this list
is not exhaustive of the factors that may affect any of the
forward-looking statements and the reader should not place an undue
reliance on these assumptions and such forward-looking statements.
Nexen undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
For further information:
For investor relations inquiries, please contact:
Kim Woima
Senior Manager, Investor Relations
+1(403)699-5821
For media and general inquiries, please contact:
Pierre Alvarez
Vice President, Corporate Relations
+1(403)699-5202
801 - 7th Ave SW
Calgary, Alberta, Canada T2P
3P7
http://www.nexeninc.com
