Disclosure Regarding Forward-Looking Statements
This website contains statements and graphs ("statements") that contain "forward-looking information" within the meaning of the applicable securities legislation. These statements include, among others, statements regarding outlook on oil and gas prices; the Syncrude production outlook; estimates of future sales and operating expenses; the merits or anticipated outcome of pending expansion plans or benefits of new technology; future Crown royalty rates; future foreign exchange rates; business strategy; expansion of Canadian Oil Sands' business; plans to increase energy efficiency; statements concerning reserves and resources; all expectations regarding the level of future dividends; the establishment of future dividend levels with the intent of absorbing short-term market volatility over several quarters; the expected cash flow from operations; the expectation that the Syncrude Emissions Reduction Project ("SER") will reduce sulphur dioxide emissions by 60% from current approved levels; the expected amount of total major project costs, anticipated target in-service dates and estimated completion percentages for the centrifuge plant at the Mildred Lake mine and the Mildred Lake mine train replacements; the expectation that Canadian Oil Sands will finance the major projects primarily with cash flow from operations and existing cash balances; the expected benefits of the Management Services Agreement; plans regarding crude oil hedges in the future; the views on future West Texas Intermediate ("WTI") to Brent and Synthetic Crude Oil ("SCO") to WTI differentials; the expected realized selling price to be received for the Corporation's product; the belief that centrifuge technology is an effective solution for meeting Syncrude's requirements of its tailings management plan; the expectation that the mine train moves/relocations will not impact production; the expectation that once the mine train moves/relocations are completed, the mine trains will be in operation in their new locations until the Mildred Lake and the Aurora North mines are fully depleted, with no further moves required; the belief that wet crushing technology will improve bitumen recovery and lower maintenance requirements; the expectations with respect to the reclamation of the East and West Mine areas; all expectations regarding the implementation of the centrifuge technology; plans for Syncrude to reduce water intake and increase recycled water use; the expected benefits of the tailings management consortium and other expectations, beliefs, plans, goals, objectives, assumptions or statements about future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimated", "forecasts", or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved).
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 Canadian Oil Sands believes that the assumptions and expectations represented by such forward-looking statements are reasonable and reflect the current views of Canadian Oil Sands 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: the assumptions outlined in Canadian Oil Sands’ guidance document as posted on this website as of the date hereof and as subsequently amended or replaced from time to time, including without limitation, the assumptions as to production, operating expenses and oil prices; the successful and timely implementation of capital projects; Syncrude's major project spending plans; the ability to obtain regulatory and joint venture owner approval; our ability to either generate sufficient cash flow from operations to meet our current and future obligations or obtain external sources of debt and equity capital; the continuation of assumed tax, royalty and regulatory regimes and the accuracy of the estimates of our reserves and resources volumes.
Some of the risk and other factors which could cause actual results or events to differ materially from current expectations expressed in the forward-looking statements contained on this website and in the documents on this website include, but are not limited to: volatility of crude oil prices; volatility of the SCO to WTI differential; the impact that pipeline capacity and apportionment and refinery demand have on prices for SCO; the impacts of regulatory changes especially those which relate to royalties, taxation, tailings, water and the environment; the impact of new technologies on the cost of oil sands mining; the impacts of rising costs associated with tailings and water management; the inability of Syncrude to obtain required consents, permits or approvals, including without limitation, the inability of Syncrude to obtain approval to release water from its operations; the impact of Syncrude being unable to meet the conditions of its approval for its tailings management plan under Directive 074; various events which could disrupt operations including fires, equipment failures and severe weather; unsuccessful or untimely implementation of capital or maintenance projects; the impact of technology on operations and processes and how new complex technology may not perform as expected; the obtaining of required owner approvals from the Syncrude participants for expansions, operational issues and contractual issues; labour turnover and shortages and the productivity achieved from labour in the Fort McMurray area; uncertainty of estimates with respect to reserves and resources; the supply and demand metrics for oil and natural gas; the variances of stock market activities generally; currency and interest rate fluctuations; volatility of natural gas prices; Canadian Oil Sands’ ability to either generate sufficient cash flow from operations to meet our current and future obligations or obtain external sources of debt and equity capital; general economic, business and market conditions and such other risks and uncertainties described in Canadian Oil Sands’ Annual Information Form dated February 20, 2014 and in the reports and filings made with securities regulatory authorities from time to time by Canadian Oil Sands which are available on Canadian Oil Sands’ profile on SEDAR at www.sedar.com and on Canadian Oil Sands’ website at www.cdnoilsands.com.
You are cautioned that the foregoing list of important factors is not exhaustive. Except as required by law, Canadian Oil Sands does not undertake any obligation to update publicly or revise any of the forward-looking statements, whether as a result of new information, future event, or otherwise. The forward-looking statements contained on this website are expressly qualified by this cautionary statement.
This website is owned and operated by Canadian Oil Sands Limited ("COS" or "Canadian Oil Sands"). All references herein to Canadian Oil Sands shall be deemed to include any subsidiary, affiliate, majority owned partnership, associate or successor corporation of Canadian Oil Sands. By using this website, you agree to the following terms and conditions:
Canadian Oil Sands grants users of this website a limited license only to display and print information contained on this website for your own personal, non-commercial use. You may not otherwise reproduce, modify, republish or disseminate any information contained on the Canadian Oil Sands website in any manner or form whatsoever, without prior written permission from Canadian Oil Sands.
Website Is Provided As A Service Only
The material contained on this website is for informational purposes only and is not intended as a solicitation or offering of securities in any jurisdiction. Material available on or through this website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Canadian Oil Sands and should not be used for the purpose of making investment decisions concerning Canadian Oil Sands' securities. You may obtain printed copies of the official versions of public disclosure documents from the Vice President, Investor and Corporate Relations at firstname.lastname@example.org.
Although Canadian Oil Sands updates this website regularly with material believed to be accurate at the time of posting, Canadian Oil Sands does not guarantee the accuracy, completeness, timeliness or currency of the material and consequently Canadian Oil Sands expressly disclaims any liability for errors or omissions in the material contained on the website.
Further, this website and the material and information on it may be changed or updated from time to time without notice.
Canadian Oil Sands Website Protected By Copyright and Trademark
Except as otherwise noted, the logos, icons, graphics, designs, names, trade names, trademarks or service marks displayed on this website belong to Canadian Oil Sands or other third parties and may not be used without Canadian Oil Sands' prior written permission. Written permission is also required for any use of any third party trademark displayed on the website.
Canadian Oil Sands Not Responsible For Linked Websites
This website may contain hyperlinks to websites operated by parties other than Canadian Oil Sands. Such hyperlinks are provided for your reference only. Canadian Oil Sands does not control such websites, and is not responsible for their contents. Canadian Oil Sands' inclusion of hyperlinks to such websites does not imply any endorsement of the material on such websites or any association with their operators.
Canadian Oil Sands Not Responsible For Internet Software Or Computer Viruses
Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of material contained on this website when displayed or downloaded onto your computer. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. Canadian Oil Sands shall not be liable for Internet software, computer viruses or destructive programs and recommends that you install appropriate anti-virus or other protective software.
Exclusion Of Liability
Canadian Oil Sands makes no representations about the suitability of the information contained on this website for any purpose. All such information is provided "as is". In no event shall Canadian Oil Sands and/or its suppliers be liable for any direct, indirect, punitive, incidental, special or consequential damages arising out of or in any way connected with the use of this website or with the delay or inability to use this website, or for any information and services obtained through this website, or otherwise arising out of the use of this website, whether based on contract, tort, strict liability or otherwise, even if Canadian Oil Sands has been advised of the possibility of such damages.
Canadian Oil Sands shall not be liable for any claims, expenses, damages (including direct, indirect, punitive, special, moral, incidental or consequential damages), costs, loss of profits, opportunities or information arising from this website including, but not limited to:
- The use of or reliance on material contained on or obtained through this website;
- Any inaccuracy or omission in such material or failure to keep the material current;
- Use of any third party websites linked to this website;
- Any Internet software or software algorithms used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website;
- Inability to use the website due to, among other things, interruption, delay in operation or transmission, defect, computer virus or line or system failure; and
- Any other matter connected with this website even if Canadian Oil Sands is made aware of the possibility of such claims, expenses, damages, costs or losses.
In addition, no warranty of any kind, whether implied, express, statutory or otherwise, including but not limited to, warranties as to non-infringement of intellectual property rights or third party rights, title, latent defects, uninterrupted service, merchantability, fitness for a particular purpose and freedom from computer viruses, is given by Canadian Oil Sands in conjunction with the website, materials or software algorithms.
Please feel free to e-mail Canadian Oil Sands using any of the e-mail addresses contained on the website. However, as the Internet is not a fully secure medium and any communication may be lost, intercepted, corrupted or altered, Canadian Oil Sands is not liable for any damages related to communications (personal, confidential or otherwise) to or from this website, except for certain privacy obligations.
You agree that with respect to any material provided to Canadian Oil Sands through this website:
- Canadian Oil Sands has no obligation of any kind concerning such information;
- The information is non-confidential;
- Canadian Oil Sands may use, disclose, distribute, copy or reproduce the material and shall be free to use any ideas, concepts, know-how or techniques of any kind contained in the material for any purpose; and
- The information is truthful, and the disclosure of the information does not violate the legal rights of others.
- The material contained on this website is deemed to be provided in Alberta and is subject to Alberta law.
- All monetary amounts mentioned on this website are in Canadian dollars unless otherwise stated.
- Canadian Oil Sands makes no representation that access to this website or that the information contained thereon is appropriate or legal in all jurisdictions. You may not access this website or use any information in those jurisdictions where it would be illegal. In any case, your access to the website is entirely at your own initiative and you are responsible for ensuring that all laws are complied with.
- As a condition of your use of this website, you warrant to Canadian Oil Sands that you will not use this website for any purpose that is unlawful or prohibited by these terms, conditions and notices.