Oil & gas information Additional oil and gas information is presented in our 2010 AIF, available on our website at www.cenovus.com. McDaniel & Associates Consultants Ltd., an independent qualified reserves evaluator, prepared the…
Our commitments Building from a strong base 2010 proved & probable 2.4 billion barrels of oil reserves: equivalent Bitumen Economic contingent 6.1 billion barrels Borealis Region resources* Greater Discovered bitumen 56 billion…
Cenovuss strategy Grow oil production by investing in high quality oil resources Maintain operating & capital cost discipline by focusing on projects with strong returns & material net present value Manage conventional oil & natural…
Foster Creek leading the way Christina Lake top-tier reservoir 5
Portfolio of additional opportunities Regulatory approval Construction Steam & production Initial application bbls/d net Narrows Lake 65,000 Grand Rapids 180,000 Telephone Lake 35,000 Winefred Lake 30,000 Foster Creek Other…
2010 performance Proved reserves 1,800 s e inc rea 3.65/BOE finding and 19% 1,500 development costs* 1,200 398% production replacement MMBOE 900 18-year proved reserves life index 600 7.8 recycle ratio 300 13% increase…
2011 building on our momentum Disclose 2010 reserves & contingent resources Q1 Execute strat well program Sanction Foster Creek F, G & H (received regulatory approval Sept. 2010) Q2 Receive results from 2011 strat & seismic…
Impact of technology development HISTORY FORECAST 0 Supply cost reduction (US/bbl) wedge wells 2 insulated liner tubing 4 improvements accelerated electric startup submersible blowdown 6 boilers pumps (ESPs) 8 reservoir…
Wedge wells subsurface Wedge well producer Standard SAGD well pair and steam chambers coalesce Wedge wells SAP well at Christina Lake 10
Progressive approach on environment Culture Performance Relationships Innovation & technology Investing in communities 11
The Cenovus equation Great assets Smart resource development Leading technology The right people Cenovus Our people 12
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