Nexen Inc. Files Year End Disclosure Documents

                Nexen Inc. Files Year End Disclosure Documents

  PR Newswire

  CALGARY, Alberta, February 25, 2013

CALGARY, Alberta, February 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
  *EDGAR at
  *Nexen at

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

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 webs ite ( ), t he SEC's
websit e ( ) a nd Nexen's website (
). Th e 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.

For further information: For investor relations inquiries, please contact:
Janet Craig Vice President, Investor Relations +1(403)699-4230 For media and
general inquiries, please contact: Pierre Alvarez  Vice President, Corporate
Relations +1(403)699-5202 801 - 7 ^th Ave SWCalgary, Alberta, Canada T2P 3P7 (NXY. NXY.PR.U. NXY)
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