December 11, 2006 18:32 ET

Media Advisory: Petro-Canada 2007 Outlook Conference Call

CALGARY, ALBERTA--(CCNMatthews - Dec. 11, 2006) - Petro-Canada will host a conference call for analysts, investors and the media on Thursday, December 14, 2006 at 2:30 p.m. Mountain time (4:30 p.m. Eastern time) to discuss Petro-Canada's 2007 Capital and Exploration Expenditure Program and Production Outlook, which will be released on December 14, 2006 at 2:00 p.m. Mountain time. The media will be invited to ask questions following the analysts and investors. If you are unable to join us on December 14, a postview of the conference call will be available on Petro-Canada's website.

Presenters:             Ron A. Brenneman, President and CEO;
                        Harry Roberts, Executive Vice-President and CFO

Conference Call Host:   Gordon Ritchie, Sr. Director - Investor Relations

Date:                   December 14, 2006

Time:                   2:30 p.m. Mountain time (4:30 p.m. Eastern time)

Telephone:              1-866-540-8136 (North America) or 
                        (416) 340-8010 (International)


Post audio:             A post audio will be available one hour after the
                        conclusion of the conference call and will be 
                        accessible until March 15, 2007 through  
                        1-800-408-3053 (N. America) and 
                        (416) 695-5800 (International); 
                        reservation 3203311#.

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. The Company creates value by responsibly developing energy resources and providing world class petroleum products and services. Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Petro-Canada's common shares trade on the Toronto Stock Exchange under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.

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