Investor Information and Advisory

Chapter 6.3

Investor Information and Advisory

    In the interest of providing readers of this report with information regarding Syncrude, including management’s assessment of Syncrude’s future technologies, reclamation, emissions and production levels and Syncrude operations, certain statements and graphs throughout this sustainability report contain forward-looking information and forward-looking statements (collectively referred to as “forward-looking statements”) under applicable securities law. Forward-looking statements are typically identified by words such as “anticipate”, “expect”, “believe”, “plan”, “intend” or similar words suggesting future outcomes. Forward-looking statements in this report include, but are not limited to, statements and graphs with respect to: future expectations and results regarding reclamation, tailings management, water use, aboriginal relations and regulatory and government relations; the belief that the Syncrude Emissions Reduction project will reduce sulphur dioxide emissions by 60 per cent from 2005 levels and reduce particulate emissions by about 50 per cent; the expectations regarding future energy use; the expectations regarding the east and west mine reclamation projects; the anticipated total costs and target in-service dates for the Mildred Lake mine train replacements and centrifuge plant at the Mildred Lake mine; the expectation that the Mildred Lake mine extension project (the “MLX Project”) should extend the life of mining operations at the Mildred Lake mine by about a decade; the expectations regarding the timing of construction and spending for the MLX Project; the expectation that Syncrude will submit a regulatory application for the MLX Project in 2014; all expectations regarding the development of the Aurora South mine leases; the expectations regarding the implementation of the ExxonMobil Global Reliability System and Operations Integrity Management System; the expectations with respect to reducing emissions such as nitrogen oxide; the expected improvement in energy efficiency; Syncrude’s tailings management plans, including without limitation, the anticipated timing of implementation of the various technologies and the benefits resulting from the technologies.

    The factors or assumptions on which the forward-looking statements are based include, but are not limited to: the successful and timely implementation of capital projects; major project spending plans; the ability to obtain regulatory and Syncrude joint venture owner approval; the continuation of assumed tax, royalty and regulatory regimes and the success of the tailings management and other technologies.

    You are cautioned not to place undue reliance on forward looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur. Although Syncrude believes that the expectations represented by such forward-looking statements are reasonable and reflect the current views of Syncrude, there can be no assurance that such expectations will prove to be correct.

    Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements contained in this sustainability report include, but are not limited to: the impacts of regulatory changes especially those which relate to royalties, taxation, tailings, water and the environment; the impact of new technologies on the cost of oil sands mining; the impacts of rising costs associated with tailings and water management; the inability of Syncrude to obtain required consents, permits or approvals, including without limitation, the inability of Syncrude to obtain approval to release water from its operations; the impact of Syncrude being unable to meet the conditions of its approval for its tailings management plan under Directive 074; various events which could disrupt operations including fires, equipment failures and severe weather; unsuccessful or untimely implementation of capital or maintenance projects; the impact of technology on operations and processes and how new complex technology may not perform as expected; the obtaining of required owner approvals from the Syncrude participants for expansions, operational issues and contractual issues; labour turnover and shortages and the productivity achieved from labour in the Fort McMurray area; uncertainty of estimates with respect to reserves and resources; volatility of crude oil prices and such other risks and uncertainties described from time to time in the reports and filings made with regulatory authorities by Syncrude.

    You are cautioned that the foregoing list of important factors is not exhaustive. Furthermore, the forward-looking statements contained in this report are made as of the date of this report and unless required by law, Syncrude does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this report are expressly qualified by this cautionary statement.


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