Suncor Energy Inc.

Suncor Energy Inc.

June 22, 2006 00:00 ET

Suncor Energy acquires new oil sands permits

Calgary, Alberta — (June 22, 2006) — Suncor Energy Inc. today announced it has acquired three new oil sands permits, located approximately five kilometres southwest of the company's Fort McMurray oil sands operations. The three land permits are adjacent to mining leases Suncor previously acquired.  

The permits have not been delineated to the extent necessary to provide an estimate of resources or reserves and a timeline for development has not been established. Suncor can apply to have the permits transferred to leases, after meeting minimum targets on resource evaluation.

Suncor will consult with stakeholders as development plans progress.

The purchase price of the permits is not being disclosed.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include refining operations in Colorado and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

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