Husky Sunrise Thermal (SAGD) Project

Located 60 kilometres northeast of Fort McMurray, Alberta, Sunrise
has a rich bitumen deposit with estimated total proved, probable
and possible reserves of 3.7 billion barrels (estimated as of December
31, 2009). The project will be built in phases, ultimately producing
more than 200,000 barrels of bitumen per day, and will be a
40 year secure and stable source of crude oil production for North
America. Construction of facilities is scheduled to begin in 2011,
followed by first oil in 2014.

The development of Sunrise is strategically linked to the reconfiguration of the BP-Husky Toledo refinery, operated by BP. Production from Sunrise will be
shipped to the refinery in Toledo, Ohio, using existing pipelines and rights-of-way wherever possible. It will then be refined into transportation fuels and
other energy products.

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