Forward-looking Statements / Reserves Estimates
Information in this corporate presentation contains forward-looking statements. Such statements are generally identifiable by the terminology used, such as, but not limited to “plan,” “anticipate,” “intend,” “expect,” “estimate,” “budget,” or other similar wording. Forward-looking statements include, but are not limited to, references to future capital and other expenditures, drilling plans, construction activities, the submission of development plans, seismic activity, oil and gas production levels and the source of growth thereof, results of exploration activities and dates by which certain areas may be developed or may come onstream, production and operating costs, reserves and resources estimates, reserve life, bitumen upgrading and export capacity and environmental matters. Investors are cautioned that the assumptions used in the preparation of such numbers may prove to be incorrect.
These forward-looking statements are subject to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Athabasca Oil Sands Corp., which may cause actual results, levels of activity and achievements to differ materially than those expressed or implied by such statements. These risks include, but are not limited to; general economic, market and business conditions; industry capacity; competitive action by other companies; fluctuations in commodity pricing; cost, availability and supply of unconventional oil equipment and services; and general risks associated with the oil and gas industry.
Industry related risks include, but are not limited to; operational and geological risks in exploration, development and production; timing delays or changes in plans; actions taken and decisions made by government authorities; risks associated with the uncertainty of reserve estimates; reservoir performance and natural well decline rates; and health and safety risks including, without limitation, blowouts and spills. Capital expenditures may be affected by cost pressures associated with new capital projects, including but not limited to; labour and material supply; project management; drilling rig rates and availability; new unconventional oil facility equipment cost and availability; and seismic costs.
The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place reliance on any forward-looking information. Athabasca Oil Sands Corp. undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement.
All dollar amounts are in Canadian dollars unless otherwise stated. All bitumen reserve estimates are in barrels unless otherwise stated.