Petro-Canada
NYSE : PCZ
TSX : PCA

Petro-Canada

January 09, 2006 23:59 ET

Update on Fire at Petro-Canada Lubricants Facility

MISSISSAUGA, ONTARIO--(CCNMatthews - Jan. 9, 2006) - Petro-Canada (TSX:PCA) (NYSE:PCZ) - At approximately 12:30pm EST on Saturday January 7, 2006 a fire occurred in the White Oils unit of the Petro-Canada Lubricants Plant, which is located at 385 Southdown Road in Mississauga, Ontario.

Petro-Canada immediately activated its local emergency response team, which received assistance from local emergency responders including the Mississauga Fire and Emergency Services and the Peel Regional Police.

At the time of the incident, all employees were accounted for. Two employees were assessed for the effects of possible smoke inhalation but did not require any further medical treatment. The fire was quickly brought under control.

"Our number one priority is always the health and safety of our employees and the public," said Randy Koenig, Vice President, Lubricants. "We appreciate the quick and effective response from local emergency officials who were on site to assist our own highly skilled fire crews."

At this time, the cause of the fire is not known and there is no estimate of the extent of damage. An investigation was begun as soon as the situation allowed.

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. Its common shares trade on the TSX under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.

LEGAL NOTICE - FORWARD-LOOKING INFORMATION

This release contains forward-looking statements. Such statements are generally identifiable by the terminology used, such as "plan," "anticipate," "intend," "expect," "estimate," "budget" or other similar wording. Forward- looking statements include references to the expected close date and the use of proceeds of the offering. These forward-looking statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Such factors include, but are not limited to: general economic, market and business conditions; fluctuation in interest rates and foreign currency exchange rates; and other factors, many of which are beyond the control of Petro-Canada. These factors are discussed in greater detail in filings made by Petro-Canada with the Canadian provincial securities commissions and the United States Securities and Exchange Commission.

Readers are cautioned that the foregoing list of important factors affecting forward-looking statements is not exhaustive. Furthermore, the forward-looking statements contained in this release are made as of the date of this release, and Petro-Canada 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 release are expressly qualified by this cautionary statement.

Contact Information

  • Media & general inquiries:
    Michael Southern
    Corporate Communications
    Petro-Canada (Mississauga)
    (905) 804-5986