Status of Syncrude Operations Following Natural Gas Supply Disruption
CALGARY, ALBERTA -- (Marketwired) -- 10/18/13 -- Canadian Oil Sands
("COS") (TSX:COS) today provides an update on its Syncrude project
following a disruption in natural gas supply early yesterday morning
to industrial customers in the Wood Buffalo region of Alberta, which
included Syncrude and several other oil sands facilities. Syncrude
temporarily suspended shipments of light, sweet synthetic crude oil,
as operations were dialed back to manage reduced natural gas supply.
Shipments have recommenced and Syncrude is returning to normal
operating conditions in a safe and controlled manner. COS intends to
release its third quarter results on October 30th and any revisions
to guidance for the year will be provided concurrently.
Canadian Oil Sands Limited
Canadian Oil Sands is a pure investment opportunity in light, sweet
crude oil. Through our 36.74% interest in the Syncrude project, we
offer a solid, robust production stream of fully upgraded crude oil,
exposure to future crude oil prices, potential growth through
high-quality oil sands leases and an attractive dividend.
For more information please visit our web site at
Forward-Looking Information Advisory
This press release contains "forward-looking information" under
applicable securities law. Forward-looking statements are typically
identified by words such as "anticipate", "expect", "believe",
"plan", "intend" or similar words suggesting future outcomes.
Forward-looking statements in this press release include statements
with respect to the expectation that Syncrude will return to normal
You are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties, both general and specific,
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur.
Although the Corporation believes that the expectations represented
by such forward-looking statements are reasonable and reflect the
rent views of the Corporation with respect to future events, there
can be no assurance that such assumptions and expectations will prove
to be correct.
The factors or assumptions on which the forward-looking information
is based include, but are not limited to: assumptions regarding the
stability of the Syncrude operations and the return to normal
operating conditions. Some of the risks and other factors which could
cause actual results to differ materially from current expectations
expressed in this press release include, but are not limited to: the
occurrence of unexpected events such as pipeline failures, equipment
failures and other similar events and the unsuccessful or untimely
return to normal operating conditions.
You are cautioned that the foregoing list of important factors is not
exhaustive. The forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
Canadian Oil Sands
VP, Investor & Corporate Relations
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