Hi bbqdays,

Regarding slide 24.

First of all, remember that all of these presentations are created to help sell the company story to potential investors. Be careful when you try to compare the left hand chart with the right. The bottom of each one is the same (years from 2008-2019) but the scale on the left side is different. They are both $mm, but one goes from -$500 to $3000 while the other goes from -$500 to $3500. It's not a big difference, but it makes them harder to compare.

On the chart on the left, the green columns show the net revenue for each year from 2008 - 2019. For 2008-2010 they expect that net revenue will be negative. (That means total expenses will be greater than total revenue for each of those years). From 2011 - 2019 they expect net revenue to be positive.

The blue line shows the cumulative cash position from 2008 - 2019. What this shows is that they started 2008 with $528 million in cash (This includes cash and available credit - see top of slide). If you follow the blue line you will see that their cash position drops for 2009 and 2010, (because they expect to have negative net revenue for those years) and then starts to rise each year until 2019 as they expect all those years to have positive net revenue) By the time they get to 2019 they expect their cumulative cash position to be more than $2500 million.

The charts on the left and right show basically the same thing. They are both based on estimates of revenues and expenses using different sets of possible outcomes. The left hand chart is based on 2P(Proved and Probable) Best Estimate of Resources (Those are the most likely amount of bitumin that will be produced during those years from areas that have been drilled and analized extensively, multiplied by the expected sale price less all the expected costs to produce it)

The right hand chart is very similar, except it is using 3P(Proved, Probable and Possible) High Estimate of Resources (These estimates involve more optimistic estimates of available bitumin from all areas and also include additional areas where little drilling and analysis has been completed). This chart shows negative net revenue for the first 4 years but ultimately an even greater positive net revenue and cumulative cash flow in later years.

*** See slide 22 for the 2P and 3P numbers that were used to make up the charts in slide 24

Sorry to be so long-winded. Hope this helps a bit.

Regards,

XBB