TSX: COS: 8.35  -0.43

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Canadian Oil Sands Limited 2000 First Canadian Centre 350–7th Avenue SW Calgary, Alberta T2P 3N9

Tel: 403 218 6200
Fax: 403 218 6201


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About COS

Board of Directors

Ernest F.H. (Harry) Roberts, Chairman of the Board

Mr. Roberts is a senior finance executive with extensive experience in the oil and gas and financial services industries and a thorough knowledge of financial and capital markets.

Mr. Roberts held a number of senior finance positions during his 20-year career with Petro-Canada, including Treasurer, Vice-President, Finance and Planning and ten years as Chief Financial Officer. He was also Senior Vice-President, Integration of Suncor Energy Inc. following its merger with Petro-Canada in 2009 until his retirement in 2010. He is Chair of the Board of Directors and a member of the Audit Committee of Enbridge Income Fund Holdings Inc.; Chair of the Board of Trustees, a member of the Audit, Finance and Risk Committee, a member of the Safety and Reliability Committee and a member of the Conflicts Committee of Enbridge Commercial Trust and Chair of the Board of Directors, a member of the Audit Finance and Risk Committee and a member of the Safety and Reliability Committee of Enbridge Pipelines Inc.

Mr. Roberts holds a B. Comm from the University of Alberta.

Mel Benson, Corporate Director

Mel Benson was elected to Suncor's Board of Directors in April 2000 and is a member of the environment, health, safety and sustainable development committee and the human resources and compensation committee.

Mr. Benson retired from an international oil company in 2000 and is president of Mel E. Benson Management Services Inc., an international consulting firm based in Calgary.

Mr. Benson is part owner of Tenax Energy Inc. and currently sits on the board of the Fort McKay Group of Companies and Oilstone Energy Services Inc. Mr. Benson recently became a member of the community advisory board for the Alberta Land Institute through the University of Alberta.

In 2003 Mr. Benson was the recipient of a National Aboriginal Achievement Award and more recently was inducted into the Aboriginal Business Hall of Fame in 2015. He has also been honoured with a Red Cross Service Award, an Alberta Aboriginal Recognition Award and a Business Development Award. He has received the Alberta Justice Crime Prevention Recognition Award from the Minister of Justice and was recognized for his contributions to the community by the Government of the Northwest Territories.

Mr. Benson is a member of Alberta's Beaver Lake Cree Nation.

Maureen McCaw, Corporate Director

Maureen McCaw was elected to Suncor’s Board of Directors in 2004 and is a member of the audit and governance committees.

Ms. McCaw was a director of Petro-Canada and is past executive vice president of Edmonton-based marketing research firm, Leger Marketing, formerly Criterion Research Corp., a company she founded in 1986.

Ms. McCaw is the chair of the CBC Pension Fund Plan board of trustees and is a director of the Canadian Broadcasting Corporation, the Edmonton International Airport and the Alberta Securities Commission. She also serves on a number of Alberta boards and advisory committees, including the Institute of Corporate Directors, the Nature Conservancy of Canada and MacEwan University, Faculty of Business. She is also past chair of the Edmonton Chamber of Commerce.

Ms. McCaw holds a bachelor of arts from the University of Alberta and an Institute of Corporate Directors certification (ICD.D).

Steve Reynish, Corporate Director

As Suncor’s executive vice president, Strategy & Corporate Development, Steve is responsible for the company’s strategy and corporate development, joint venture governance which includes Fort Hills, Syncrude and the proposed Josyln project and oversight of corporate technology development.

Steve has extensive experience in joint venture partnerships. Before joining Suncor, he held several senior positions developing and managing large scale oil sands operations. Most recently he served as president of Marathon Oil Canada. Steve is a past member of the board of governors for the Canadian Association of Petroleum Producers (CAPP) and is a past member of the Alberta Shock Trauma Air Rescue Society and Foundation (STARS) board of directors.

Holding a master’s degree in both mining engineering and business administration, Steve is a graduate of IMD in Switzerland and the Wharton School at the University of Pennsylvania.

Alister Cowan, Corporate Director

Alister Cowan is an executive vice president and chief financial officer (CFO) of Suncor Energy. In his role, Alister directs financial operations including controllers, investor relations, treasury, tax, internal audit and enterprise risk management while ensuring that Suncor has the financial strength necessary to support the company’s strategic plans.

Prior to joining Suncor in 2014, Alister led the finance function for a number of companies in the energy and utilities sector, including BC Hydro and TransAlta Corporation. Most recently he was the CFO of Husky Energy.

Alister holds a Bachelor of Arts degree in Accounting and Finance from Heriot-Watt University in Edinburgh, Scotland and is a Chartered Accountant.

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Alberta Oil Sand(s) Deposits

The four deposits, Athabasca, Peace River, Cold Lake and Wabasca, have total resource in place estimated at 1.7 trillion to 2.5 trillion barrels. The Athabasca Oil Sands deposit, Alberta's largest and most accessible source of bitumen, contains more than one trillion barrels of bitumen over an area encompassing more than 30,000 square kilometers.

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The molasses-like substance that comprises up to 18 per cent of oil sands. Bitumen, in its raw state, is black, asphalt-like oil. It requires upgrading or blending to make it transportable by pipeline and usable by conventional refineries.
Bitumen cracking
A process that breaks large, complex hydrocarbon molecules into smaller, simpler compounds by means of heat.
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Carbon dioxide (CO2)
A non-toxic gas produced from decaying materials, respiration of animal life, and combustion of organic matter, including fossil fuels; carbon dioxide is the most common greenhouse gas produced by human activities.
Vessels in which bitumen is cracked into its fractions and from which coke is withdrawn to start the process of converting bitumen to upgraded crude oil.
Conventional oil
Petroleum found in liquid form, flowing naturally, or capable of being pumped without further processing or dilution.
Specialized equipment that receives oil sand feed and turns it into a slurry form for transport to the pump box.
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An undertaking to systematically remove plant capacity limitations through modifications of existing facilities and/or addition of capital facilities.
Diesel cetane count
A quality specification important in the production of diesel fuels.
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The process of separating bitumen from oil sand.
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Raw material supplied to refinery, oil sands upgrader, or petrochemical plant.
Flue gas scrubber/desulphurizer
Equipment that removes sulphur dioxide and other emissions.
Fluid coking
A major part of the upgrading process whereby high temperatures in a coker break down the complex bitumen molecules, reject carbon and cause bitumen molecules to reformulate into lighter fractions that become the main ingredients in upgraded crude oil.
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Greenhouse gases
Any of the various gases that contribute to the greenhouse effect.
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LC-Finer hydroprocessor
A major upgrading unit that breaks down bitumen by adding hydrogen with the aid of a catalyst to produce gas oil.
The process of optimizing an operational unit or facility to reach its design capacity.
Low-energy extraction
A process for extracting bitumen that uses about one-third of the energy of the traditional process, bringing significant cost and environmental benefits.
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Middle distillates
A classification of refined petroleum products that includes kerosene, diesel, and jet fuel.
Mine train
Modular units for crushing and mixing the oil sands with warm water to facilitate the extraction of bitumen from the oil sands.
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A refined petroleum product in the lighter classification that is often used to make gasoline.
Average realized selling price, after hedging, less operating costs and Crown royalties.
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Oil sand(s)
A composition of sand, bitumen, mineral-rich clays and water.
Oil sand(s) lease
A long-term agreement with the provincial government that permits the leaseholder to extract bitumen, other metals and minerals contained in the oil sands in the specified lease area.
Ore grade
The percentage of bitumen by weight in the oil sands.
Layer of rocky, clay-like material that lies under muskeg and above oil sands deposits.
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Strip ratio
The ratio of waste (overburden material that covers mineable ore) to ore; used to define the quality of an oil sands ore body.
Sulphur dioxide (SO2)
A compound of sulphur and oxygen produced by burning sulphur.
Typically, a synbit blend is a ~50/50 mix of bitumen and synthetic crude oil.
Syncrude Project
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.
Synthetic crude oil (SCO)
A high-quality product resulting from the mining, extraction and upgrading of bitumen.
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A combination of water, sand, silt, fine clay particles and residual hydrocarbon that is a by-product of removing bitumen from oil sand.
Tailings systems
Separation of water from sand and clay to enable incorporation of solids into reclamation landscapes and recycling of water back into the operations.
Tar sands
Oil sands are also referred to as tar sands. Oil sands are a naturally occurring combination of clay, sands, water and bitumen (a heavy, black viscous oil), whereas tar is a man-made substance.
Total volume to bitumen in place (TV/BIP)
The ratio of total ore plus overburden volume to total bitumen in place.
A unit shutdown essential for good maintenance of the mining, producing and upgrading facilities. A turnaround reduces production but does not usually halt it entirely as the various operating units are often duplicated.
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A facility that upgrades bitumen (extra heavy oil) into synthetic crude oil.
The conversion of heavy bitumen into a lighter crude oil by increasing the ratio of hydrogen to carbon, either by removing carbon (coking) or adding hydrogen (hydroprocessing).
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Vacuum Distillation Unit (VDU)
Capable of processing 285,000 barrels of bitumen a day, the VDU pulls streams of light and heavy-gas oil from hot bitumen feed delivered by the diluents recovery unit.
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