CALGARY,
Feb. 25, 2013 /PRNewswire/ - Nexen
Inc. ("Nexen", TSX, NYSE: NXY) has filed today its annual
information form (AIF), audited consolidated financial statements
and related management's discussion and analysis for the year ended
December 31, 2012 with Canadian
securities authorities. The AIF includes disclosure and reports
relating to reserves data and other oil and gas information. Nexen
also filed its annual report on Form 40-F for the year ended
December 31, 2012 with the United
States Securities and Exchange Commission.
Copies of the filed documents can be accessed
electronically from:
- SEDAR at www.sedar.com
- EDGAR at www.sec.gov
- Nexen at www.nexeninc.com/investors
Shareholders may request a hardcopy of the audited financial
statements free of charge on our website.
On July 23, 2012, Nexen entered
into an Arrangement Agreement in which CNOOC Limited (CNOOC)
proposed to acquire all of the outstanding common and preferred
shares of Nexen Inc. for approximately US$15
billion in cash. The transaction was approved by the common
and preferred shareholders on September 20,
2012 and all regulatory approvals have been received. The
transaction is expected to close this week.
About Nexen
Nexen Inc. is a Canadian-based global energy company, listed on
the Toronto and New York stock exchanges under the symbol NXY.
Nexen is focused on three growth strategies: oil sands and shale
gas in western Canada and
conventional exploration and development primarily in the North
Sea, offshore West Africa and
deepwater Gulf of Mexico. Nexen
adds value for shareholders through successful full-cycle oil and
gas exploration and development, and leadership in ethics,
integrity, governance and environmental stewardship.
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
"expect", "should" or other similar words. Any statements as to the
ability of the parties to satisfy the conditions to, and to
complete, the transaction; the anticipated timing of the closing of
the transaction; and, changes in any of the foregoing are
forward-looking statements.
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. The key assumptions that have been made
in connection with the forward-looking statements include the
ability of the parties to the July 23,
2012 Arrangement Agreement to satisfy, in a timely manner,
the conditions to the closing of the transaction.
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 and CNOOC Limited to otherwise
satisfy the conditions to the completion of the transaction, in a
timely manner or at all; if the transaction is not completed and
Nexen continues as an independent entity, there are risks that the
announcement of the transaction and the dedication of substantial
resources of Nexen to the completion of the transaction could have
an impact on Nexen's current business relationships (including with
future and prospective employees, customers, distributors,
suppliers and partners) and could have a material adverse effect on
the current and future operations, financial condition and
prospects of Nexen; the possible failure of Nexen to comply with
the terms of the Arrangement Agreement may result in Nexen being
required to pay a fee to CNOOC Limited, the result of which could
have a material adverse effect on Nexen's financial position and
results of operations and its ability to fund growth prospects and
current operations; and other factors, many of which are beyond our
control. Additional information on these and other factors that
could affect the completion of the transaction are included in the
information circular and proxy statement of Nexen dated
August 16, 2012, which has been filed
with the applicable securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com), the
SEC's website (www.sec.gov) and Nexen's website
(www.nexeninc.com). The impact of any one risk, uncertainty or
factor on a particular forward-looking statement is not
determinable with certainty as these factors are interdependent,
and management's future course of action would depend on our
assessment of all information at that time.
SOURCE Nexen Inc.
