TORONTO, April 4, 2007 - Marvin Romanow, Executive Vice-President and Chief Financial Officer of Nexen Inc., has been chosen as Canada's CFO of the Year™ for 2007. Mr. Romanow will be honoured at a gala dinner on April 18 in Toronto.

Canada's CFO of the Year™ Award is presented annually by PricewaterhouseCoopers LLP, Financial Executives International Canada (FEI Canada) and, The Caldwell Partners International. The award honours and recognizes the quality, insight, direction and leadership of Canada's senior financial leaders.

"Now in its fifth year, Canada's CFO of the Year™ Award is awarded annually to an outstanding financial professional who, operating in a complex and demanding environment, makes a significant contribution to Canadian business," says Chris Clark, FCA, CEO and Canadian Senior Partner of PricewaterhouseCoopers.

Mr. Romanow was named Canada's CFO of the Year™ by an independent committee composed of some of Canada's most prominent business leaders. The criteria by which nominees were judged centred around five key attributes: Vision and Leadership, Corporate Reporting and Performance, Social Responsibility, Innovation and Business Complexity. Candidates for the award were nominated in all business sectors by CEOs, members of boards of directors, financial analysts and other senior executives.

Mr. Romanow is the Executive Vice-President and Chief Financial Officer of Nexen Inc. and has over 25 years of experience in the oil and gas industry. He is a Director of the Canadian Energy Research Institute and the Private Sector Sponsors of CERI and is Nexen's representative on the board of directors of Canexus Income Trust and the Syncrude oil sands venture. Mr. Romanow is active in his community and was Calgary co-chair of the University of Saskatchewan's capital campaign.

"This award recognizes the key role CFOs have played in financial reporting, in the stewardship of their company and also in re-establishing public trust in the markets," says Isabel Meharry, President and Chief Executive Officer at FEI Canada "It's the CFOs-with their depth of financial and technical knowledge-who really ensure confidence in the information reported."

Douglas Caldwell, Chair and Chief Executive Officer of The Caldwell Partners International adds, "In the five years that we have sponsored this Award we have seen the pressures on CFOs increase dramatically; from regulators, investors, Boards of Directors, and Chief Executive Officers. These pressures on CFOs are enormous, and they deserve our recognition and praise for their contribution."

Previous recipients of Canada's CFO of the Year™ Award include:
2006: Karen Maidment, Chief Financial and Administrative Officer of BMO Financial Group
2005: Claude Mongeau, Executive Vice-President and Chief Financial Officer of CN
2004: Peter Rubenovitch, Senior Executive Vice President and Chief Financial Officer of Manulife Financial Group
2003: Peter W. Currie, Vice-Chairman and Chief Financial Officer of RBC Financial Group

Canada's CFO of the Year™ Award is also sponsored by American Express, the Canadian Institute of Chartered Accountants (CICA), Marsh Canada Limited, Fasken Martineau and The Fairmont Royal York. The media sponsor is The Globe and Mail. Air travel services are provided by Air Canada and presentation technology for the gala dinner is provided by AVW-TELAV Audio Visual Solutions.

Media are invited to cover the April 18 award gala at The Fairmont Royal York in Toronto, but must register to attend. To indicate your attendance and arrange for interviews and camera space, please contact Carolyn Forest at 416-814-5730 or Carolyn Forest. Note the event begins at 6:00 pm.

More information on Canada's CFO of the Year™ Award can be found at http://www.cfoy.ca.

About The Caldwell Partners
The Caldwell Partners International Inc., founded in 1970, was Canada's first executive search firm. Today it is the largest and only truly national human capital services company, serving clients across Canada from its offices in Halifax, Montreal, Toronto, Winnipeg, and Vancouver, as well as internationally. The Caldwell Partners focuses on recruiting "C-class" executives (chief executive, chief financial, chief information officers, as well as other senior executives), as well as non-executive board directors. The Caldwell Partners takes pride in delivering unmatched depth of service and expertise to its clients, the caliber and experience of its staff, and the successful completion of its engagements. The Caldwell Partners founded and continues to promote the prestigious national awards programs recognizing Canada's Outstanding CEO of the Year™ and Canada's Top 40 Under 40™. The Caldwell Partners' Class-A non-voting shares are listed on The Toronto Stock Exchange (TSX: CWL.A). For more information see http://www.caldwell.ca.

About Financial Executives International Canada (FEI Canada)
Financial Executives International (FEI) Canada is an all-industry professional association for senior financial executives. With 11 chapters across Canada and almost 2000 members, we are an integral part of a larger 15,000 member North American organization. Together, FEI members in Canada and the United States represent 8,000 of North America's leading and most influential corporations.

Membership is generally restricted to senior financial officers of medium to large organizations. FEI Canada provides many valuable services to its members including peer networking opportunities; emerging issues alerts; personal and professional development; and advocacy services. We do this principally through our internet community, our chapters in various major centres across the country, and our national technical committee structure.

Membership is limited to individuals holding senior management positions, but we do allow certain other finance professionals to join if they meet stringent criteria. Most FEI members are Chief Financial Officers, Controllers, Treasurers, Tax Executives, Audit Committee Members and Finance and Accounting Professors. For more information, visit http://www.feicanada.org.

About PricewaterhouseCoopers
PricewaterhouseCoopers (http://www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. Now celebrating 100 years of excellence in Canada, PricewaterhouseCoopers LLP (http://www.pwc.com/ca) and its related entities have more than 4,700 partners and staff in offices across the country.

"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.

About Nexen Inc.
Nexen Inc. is an independent, Canadian-based global energy company, listed on the Toronto and New York stock exchanges under the symbol NXY. Nexen Inc. is uniquely positioned for growth in the North Sea, deep-water Gulf of Mexico, the Athabasca oil sands of Alberta, the Middle East and offshore West Africa. Nexen Inc. adds value for shareholders through successful full-cycle oil and gas exploration and development and leadership in ethics, integrity and environmental protection.