CANADIAN NAT RES LTD

Ticker: CNQ CUSIP: 136385101 Class: Common Stock

United American Securities Inc. (d/b/a UAS Asset Management)'s Holding History (CIK: 0001349353)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 34,425 Value ($000) $1,063 Avg Close $10.28 Range $8.12 - $11.89

Q3 2014

Shares 13,300 Value ($000) $517 Avg Close $12.93 Range $11.67 - $14.11

Q2 2014

Shares 21,950 Value ($000) $1,008 Avg Close $12.47 Range $11.51 - $13.96

Q1 2014

Shares 7,700 Value ($000) $295 Avg Close $10.48 Range $9.45 - $11.57

Q4 2013

Shares 8,150 Value ($000) $276 Avg Close $9.59 Range $9.05 - $10.15

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	34,425	$1,063	$10.28	$8.12 - $11.89
Q3 2014	13,300	$517	$12.93	$11.67 - $14.11
Q2 2014	21,950	$1,008	$12.47	$11.51 - $13.96
Q1 2014	7,700	$295	$10.48	$9.45 - $11.57
Q4 2013	8,150	$276	$9.59	$9.05 - $10.15