Suncor Energy Inc.

Suncor Energy Inc.

December 01, 2008 00:00 ET

Suncor Energy reports repair work underway at oil sands upgrader

Calgary, Alberta (December 1, 2008) — Suncor Energy Inc. reports that repairs are underway following a minor fire at one of the company's two oil sands upgraders north of Fort McMurray. The fire occurred November 26 during start-up of a vacuum unit following completion of planned maintenance. There were no injuries and the fire was extinguished within minutes.

Repairs are targeted for completion in the next three to four weeks. With upgrader 2 expected to operate at reduced rates during this period, the company anticipates total oil sands production will average approximately 235,000 barrels per day (bpd) in December. Repairs are not expected to impact Suncor's budget estimate of 300,000 bpd in 2009. 

Year-to-date oil sands production at the end of November averaged approximately 227,000 bpd. The year-to-date production volume reflects a major planned maintenance shutdown in the second quarter of 2008.

Both the 2009 production budget estimate and November year-to-date production estimate are subject to adjustment. Actual 2008 production and the 2009 production outlook will be confirmed when Suncor's fourth quarter results are released on January 21, 2009.

This news release contains forward-looking statements identified by the words "planned", "targeted", "expected", "anticipates" and similar expressions that address expectations or projections about the future. Forward-looking statements are based on Suncor's current goals, expectations, estimates, projections and assumptions made in light of its experiences and the risks, uncertainties and other factors related to its business. Assumptions used to develop our outlook are based on year-to-date performance and management's best estimates for the remainder of the year. Readers are cautioned that actual results could differ materially from those expressed or implied as a result of changes to Suncor's plans and the impact of events, risks and uncertainties discussed in Suncor's current annual information form/form 40-F, annual and quarterly reports to shareholders and other documents filed with Canadian securities commissions at and the United States Securities and Exchange Commission (SEC) at

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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