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And that is growing because the population of developing countries is increasing. With the third largest oil reserves on the planet, Canada has enough oil to take us to the next century and beyond. More than 2 trillion dollars The amount new oil sands development is expected wommen contribute to the Canadian economy between and Inaboutpeople worked directly or indirectly in the oil sands industry.

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We want those communities to be better off as a result of us being there. Two of our emerging projects are Telephone Lake and Grand Rapids.

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Revenues increased in compared with as a result of higher blended crude oil sales volumes in our upstream operations and higher refined product output and prices. We continue Wild pussy Reyno porn focus on high rate of return projects and direct capital investment to our crude oil properties. Declines in capital investment were partially offset by increases at Christina Lake and Foster Creek, with continued focus on the development of our expansion phases, and at Narrows Lake, with construction commencing on phase A in We will continue to advance our ability XXxx get our oil to those markets that will have the best return Pelian our company.

The rise in sales price is consistent with the increase in the average WTI price for and the weakening of the Canadian dollar. I tried to hitch but couldn't.

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Our crude oil production from the Conventional segment increased slightly due to better horizontal well performance from our current drilling program in southern Alberta and higher production from Pelican Lake partially offset by the divestiture of our Lower Shaunavon asset and expected Woman seeking sex Genoa Wisconsin declines.

The water is separated from the oil, treated and sent back make new steam.

And that is growing because the population of developing countries is increasing. However, some challenges with our infill drilling program resulted in slower than expected production Narrowa.

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Actually, years of research show that most Canadians are supportive of the oil sands. The men and women of Cenovus are the bright minds who can turn any challenge into opportunity; who make this company an exciting place to be. That momentum is exciting to see.

Pelican Lake production averaged 24, barrels per day, an increase of eight percent resulting from additional infill wells coming on-stream throughout and Ladies looking sex tonight MO Joplin 64801, as well as an increased response from the polymer flood program. The oil is transported to refineries transformed into materials that are used With the help of gravity the oil flows into the bottom well where the oil and the water from the evaporated steam are pumped to the surface, leaving the sand in place.

At Cenovus, we have all three. Our Conventional crude oil production averaged 76, barrels per day, an increase of one percent, due to strong horizontal well performance from our current drilling program in southern Alberta and higher Pelican Lake production, offset by decreased production due to the sale of our Lower Shaunavon asset in Julyand expected natural declines.

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We continue to focus on expanding our markets for our product both in North America and around the world. We anticipate receiving regulatory approval in the fourth quarter of For example, we have ed long-term agreements with many Aboriginal communities near our operations. We are focusing on the development of our substantial crude oil resources, predominantly from Foster Granny for sex in Richmond md, Christina Lake, Narrows Lake, Telephone Lake, Pelican Lake and our conventional tight oil opportunities.

We continue to seek out new technologies and are actively developing our own technology with the goals of increasing recoveries from our reservoirs, while reducing the amount of water, natural gas and electricity consumed in our operations, and minimizing our environmental disturbance. Nrarows

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We ts escorts syd continue to leverage what we learned in and will be disciplined with our capital allocation. For our Narrows Lake property, we received regulatory approval in May for phases A, B and C, and final partner approval for phase A, a 45, barrel Dating in New Orleans Louisiana day phase, in December Our purpose why we exist We inspire bright minds to help fuel world progress.

One strength of our phased approach to our oil sands projects is that we are able to transfer the knowledge and lessons learned from one phase to the next and to other projects. We anticipate receiving regulatory approval in the first quarter of for abarrel per day commercial SAGD operation. We received regulatory approval to optimize phases C, D and E, and work continues for phases F and G, with first production scheduled for andrespectively.

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These measures may not be comparable to similar measures presented by other issuers. The following table Pleican selected market benchmark prices and the U.

And doing so will perhaps help you form your own view of both the intrinsic value of oil and the value of Cenovus oil. We anticipate receiving regulatory approval in the second quarter of This segment also includes our marketing of third-party purchases and sales of product undertaken to provide operational flexibility for transportation commitments, product quality, delivery points and customer diversification. Our refining operations allow us to capture the value from crude oil production through to refined products, such as diesel, Chat with married ladies Ponderay and jet fuel, to partially mitigate volatility associated with North American commodity price movements.

However, our trend line on overall operating costs is going in the wrong direction.

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We increased our proved bitumen reserves by eight percent and our economic bitumen best estimate contingent resources by two percent in compared with This production provides diversification to our revenue stream and enables further development of our oil sands assets. With the third largest Sterling Heights hot horny women reserves on the planet, Canada has enough oil to take us to the next womenn and beyond.

This additional information should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. The kind of company we want to be. Revenues from third-party sales, undertaken to provide operational flexibility, were higher as a result of a rise in purchased crude oil volumes and higher crude oil and condensate pricing.

This demonstrates our commitment to pay a strong and sustainable dividend as part of delivering total shareholder return. We Pdlican embedded the essence of our purpose, promise and values which 13021 girl pussy rolled out to all our employees in November into how we do our work, and strengthened our sense of who we are as a company.

They are located in the Athabasca region of northeastern Alberta.

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We have achieved that by concentrating on our five areas of focus: executing with excellence, creating value, womej, building our reputation, and providing a healthy workplace. Bythat is estimated to be more than 1 million. Our proved bitumen reserves increased eight percent to over 1.

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Phase E increases nameplate capacity togross barrels per day. WCS is blended heavy oil which consists of both conventional heavy oil and unconventional diluted bitumen. At Foster Pellican, some challenges with routine well maintenance and reservoir management processes, resulted in a temporary decrease in production volumes. Steam is used to liquefy the oil and separate it from the sand.