Billionaire Murray Edwards Aids Financing in Small Oil Driller
Photographer: Dave Olecko/Bloomberg
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The billionaire chairman behind oil-sands giant Canadian Natural Resources Ltd is partaking in a private placement for a smaller domestic oil driller.
N. Murray Edwards will own notes and units of Cardinal Energy Ltd., for an investment of about C$15.6 million. Edwards told Cardinal his involvement is for investment purposes, and he could buy more shares or other securities directly or indirectly “from time to time, depending on market conditions,” according to a statement Monday.