Suncor Energy Inc.

Suncor Energy Inc.

September 02, 2008 00:00 ET

Suncor Energy releases oil sands production numbers for August 2008, reports unscheduled maintenance on hydrogen plant

Calgary, Alberta (September 2, 2008) — Suncor Energy Inc. reported today that production at its oil sands facility during August averaged approximately 260,000 barrels per day (bpd). Year-to-date oil sands production at the end of August averaged approximately 221,000 bpd.

While total production volumes are at expected rates, the proportion of sweet (low-sulphur) crude oil products was lower than planned during the month due to an unscheduled shutdown of a plant which supplies a portion of the hydrogen used to remove sulphur from synthetic crude oil and diesel fuel.

The expected duration of the repairs to the hydrogen plant is being assessed, but Suncor currently expects work to be completed in the fourth quarter of 2008. The proportion of low-sulphur crude oil and diesel production will continue to be impacted during the period of the shutdown, but the outlook for annual average production volumes of 240,000 to 250,000 barrels per day is not currently expected to change. The company's annual outlook, including product mix and volumes, will be reviewed and updated as necessary when Suncor's third quarter results are released on October 29, 2008.

On a monthly basis, Suncor reports production numbers from its oil sands operation in order to provide stakeholders with a more timely review of operational performance. These numbers are preliminary and subject to adjustment. Monthly totals may differ from year-to-date total due to rounding, the impact of sales and changes in inventory.

This news release contains forward-looking statements that address goals, expectations or projections about the future. These statements are based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Some of the forward-looking statements may be identified by the words "expected", "planned", "outlook" and similar expressions. These statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

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 pipeline and refining operations in Colorado and Wyoming 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.

Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.


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