-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CuIcg478a2pNIpYwv3whtD03sEvHAHdyUGY32PyPqiErE3q2IfPwsPYjxThdGo6Y
 GfuKkE6nP0IOpuS0+CPIig==

<SEC-DOCUMENT>0001104659-07-049995.txt : 20070626
<SEC-HEADER>0001104659-07-049995.hdr.sgml : 20070626
<ACCEPTANCE-DATETIME>20070626153339
ACCESSION NUMBER:		0001104659-07-049995
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070625
FILED AS OF DATE:		20070626
DATE AS OF CHANGE:		20070626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUNCOR ENERGY INC
		CENTRAL INDEX KEY:			0000311337
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12384
		FILM NUMBER:		07941127

	BUSINESS ADDRESS:	
		STREET 1:		112 4TH AVENUE SW PO BOX 38
		STREET 2:		CALGARY
		CITY:			ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P 2V5
		BUSINESS PHONE:		4032698100

	MAIL ADDRESS:	
		STREET 1:		112 FOURTH AVE SW BOX 38
		STREET 2:		CALGARY
		CITY:			ALBERTA CANADA
		ZIP:			T2P 2V5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUNCOR INC
		DATE OF NAME CHANGE:	19970430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT CANADIAN OIL SANDS & SUN OIL CO LTD
		DATE OF NAME CHANGE:	19791129
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a07-17271_26k.htm
<DESCRIPTION>6-K
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SECURITIES AND
EXCHANGE COMMISSION</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, DC&#160; 20549</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Form 6-K</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Report of Foreign Private Issuer<br>
Pursuant to Rule 13a-16 or 15d-16 under<br>
the Securities Exchange Act of 1934</font></b></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="39%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:39.88%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>For the month of: June 2007</b></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:8.34%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:51.78%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Commission File Number: 1-12384</font></b></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SUNCOR ENERGY INC.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name of Registrant)</font></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">112 Fourth
Avenue S.W.<br>
P.O. Box 38<br>
Calgary, Alberta<br>
Canada&#160; T2P 2V5</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices)</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the registrant files or
will file annual reports under cover of Form 20-F or Form 40-F:</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="32%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:32.62%;">
  <p align="right" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:right;"><!-- SET mrlNoTableShading -->Form 20-F <font face="Wingdings">o</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:16.66%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:50.72%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form 40-F &nbsp;&nbsp;</font><font face="Wingdings">x</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark
whether by furnishing the information contained in this Form, the registrant is
also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934:</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="30%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:30.84%;">
  <p align="right" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:right;"><!-- SET mrlNoTableShading -->Yes <font face="Wingdings">o</font></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:22.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.42%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No &nbsp;&nbsp;</font><font face="Wingdings">x</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If &#147;Yes&#148; is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b): N/A</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\Fc\17795558513_P66503CHE_2214424\17271-2-ba.htm',USER='jmsproofassembler',CD='Jun 26 09:56 2007' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">


<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The exhibit filed
on this Form 6-K is expressly incorporated by reference into this report and is
hereby incorporated by reference as an exhibit to the registrant&#146;s Registration
Statement on Form F-9 (File No. 333-140797).</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;margin-left:10.0pt;">
 <tr style="page-break-inside:avoid;">
  <td width="47" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:35.35pt;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->Exhibit</p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="610" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:457.35pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Description of Exhibit</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="47" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:35.35pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="610" valign="top" style="padding:0pt .7pt 0pt 0pt;width:457.35pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="47" valign="top" style="padding:0pt .7pt 0pt 0pt;width:35.35pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="610" valign="top" style="padding:0pt .7pt 0pt 0pt;width:457.35pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Terms Agreement and Underwriting Agreement Standard
  Provisions, dated June 25, 2007, between Suncor Energy Inc. and the
  underwriters named therein.</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>



</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\Fc\177113154174_P66503CHE_2214424\17271-2-bg.htm',USER='jmsproofassembler',CD='Jun 26 11:31 2007' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">


<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="51%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUNCOR ENERGY INC.</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:8.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:8.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&nbsp;&nbsp; June
  26, 2007</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="31%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.04%;">
  <p style="margin:0pt 0pt .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Janice B.
  Odegaard</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:15.44%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:8.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Janice B. Odegaard</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:8.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Associate General</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:8.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.28%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counsel and Corporate Secretary</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="362" style="border:none;"></td>
  <td width="38" style="border:none;"></td>
  <td width="61" style="border:none;"></td>
  <td width="171" style="border:none;"></td>
  <td width="116" style="border:none;"></td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>



</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\Fc\17711325087_P66503CHE_2214424\17271-2-jc.htm',USER='jmsproofassembler',CD='Jun 26 11:32 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a07-17271_2ex99d1.htm
<DESCRIPTION>TERMS AGREEMENT AND UNDERWRITING AGREEMENT STANDARD PROVISIONS, DATED JUNE 25, 2007
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div>


<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a Canadian corporation)</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.500% Senior Unsecured Notes due 2038</font></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 25, 2007</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To:</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Suncor
Energy Inc.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 24.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P.O. Box 38<br>
112 - 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Avenue S.W.<br>
Calgary, Alberta&#160; T2P 2V5<br>
CANADA</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and
Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We, the
Underwriters listed below (the &#147;Underwriters&#148;), for whom J.P. Morgan Securities
Inc. is acting as representative (the &#147;Representative&#148;), understand that Suncor
Energy Inc., a Canadian corporation (the &#147;Company&#148;), proposes to issue and sell
US$750,000,000 aggregate principal amount of its 6.500% Senior Unsecured Notes
due 2038 (the &#147;Debt Securities&#148;) (such securities also being hereinafter
referred to as the &#147;Underwritten Securities&#148;).&#160;
Subject to the terms and conditions set forth or incorporated by
reference herein, the Underwriters offer to purchase, severally and not
jointly, the respective aggregate principal amount of Underwritten Securities
set forth opposite their names below at the respective purchase prices set
forth below.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='1',FILE='C:\Fc\17711504449_P66503CHE_2214424\17271-2-mm-01.htm',USER='jmsproofassembler',CD='Jun 26 11:50 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;font-family:Times New Roman;">
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><!-- SET mrlHTMLTableLeft --></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="3" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Principal&nbsp;Amount</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Underwriter</font></b></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">of&nbsp;Underwritten&nbsp;Securities</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" colspan="3" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan
  Securities Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BNP Paribas
  Securities Corp.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deutsche Bank
  Securities Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">105,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CIBC World
  Markets Corp.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RBC Capital
  Markets Corporation</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Banc of America
  Securities LLC</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global
  Markets Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lazard Capital
  Markets LLC</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Americas
  Securities, LLC</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BMO Capital
  Markets Corp.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18,750,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scotia Capital
  (USA) Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18,750,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TD Securities
  (USA) LLC</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18,750,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daiwa Securities
  America Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mizuho
  Securities USA Inc.</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan Stanley
  &amp; Co. Incorporated</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:5.0pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="115" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:86.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11,250,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" colspan="3" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:239.5pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32" colspan="2" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:23.9pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">US$</font></p>
  </td>
  <td width="90" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:67.45pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">750,000,000</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="319" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="25" style="border:none;"></td>
  <td width="90" style="border:none;"></td>
  <td width="2" style="border:none;"></td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company agrees
to make an intercompany loan represented by a demand note (the &#147;Mirror Note&#148;)
of US$750,000,000 to Suncor Energy Oil Sands Inc., a corporation organized
under the laws of Alberta and a wholly-owned subsidiary of the Company (&#147;Suncor
Oil Sands&#148;).&#160; The Company further agrees
to cause Suncor Oil Sands to make an intercompany loan represented by a demand
note (the &#147;Partnership Note&#148;) of US$750,000,000 to Suncor Energy Oil Sands
Limited Partnership, a limited partnership established under the laws of
Alberta and directly and indirectly wholly-owned by the Company.&#160; The Company agrees to ensure that Suncor Oil
Sands will enter into an assignment agreement, and such other documentation
listed in Annex II hereto, in order to assign the Partnership Note to and in
favor of the Trustee for and on behalf of each of the holders of the
Underwritten Securities (the &#147;Partnership Note Assignment&#148;).&#160; The documents entered into in connection with
the foregoing, and any documentation related thereto, are listed in Annex II
hereto and are collectively referred to as the &#147;Collateral Documents.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Underwritten
Securities shall have the following terms:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&#160; 6.500% Senior Unsecured Notes due 2038</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current ratings:&#160; Moody&#146;s: A3 (stable outlook); S&amp;P: A-
(stable outlook); DBRS: A (low)</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate
principal amount to be issued:&#160;
US$750,000,000</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denominations:&#160; US$2,000 and multiples of US$1,000 in excess
thereof</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='2',FILE='C:\Fc\17711504449_P66503CHE_2214424\17271-2-mm-01.htm',USER='jmsproofassembler',CD='Jun 26 11:50 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currency of
payment:&#160; United States dollars</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest rate or
formula:&#160; 6.500%</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest payment
dates:&#160; June 15 and December 15, commencing
December 15, 2007</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regular record
dates:&#160; June 1 and December 1</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stated maturity
date:&#160; June 15, 2038</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption
provisions:&#160; Make-whole at any time at a
discount rate of Treasury plus 25 basis points</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sinking fund
requirements:&#160; None</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conversion provisions:&#160; None</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Listing
requirements:&#160; None</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Black-out
provisions:&#160; None</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fixed or Variable
Price Offering: &#160;Fixed Price Offering</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If Fixed Price
Offering, initial public offering price per security: 99.160% of the principal
amount, plus accrued interest, if any, from June 28, 2007</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchase price per
security:&#160; 99.160% of principal amount,
plus accrued interest, if any, from June 28, 2007</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form:&#160; Book entry form through The Depository Trust
Company</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other
terms and conditions:&#160; Each Underwriter
agrees that it will not, directly or indirectly, offer, sell or deliver any
Debt Securities purchased by it, in Canada or to residents of Canada in
contravention of the securities laws of any province or territory of Canada.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Closing
date and location:&#160; June 28, 2007 at the New
York offices of Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices to the
Underwriters shall be directed to the Representative as set forth below:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan
Securities Inc.<br>
Attention: Investment Grade Syndicate Desk<br>
270 Park Avenue, 8th Floor<br>
New York, NY 10017<br>
Tel: (212) 834-4533<br>
Fax: (212) 834-6081</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='3',FILE='C:\Fc\17711504449_P66503CHE_2214424\17271-2-mm-01.htm',USER='jmsproofassembler',CD='Jun 26 11:50 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint book-running
managers:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BNP Paribas
Securities Corp.<br>
787 7th Avenue<br>
New York, New York 10019<br>
Tel: (800) 854-5674<br>
Fax: (212) 841-3930</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deutsche Bank Securities Inc.<br>
Attention: Debt Capital Markets &#151; Syndicate Desk<br>
60 Wall Street<br>
New York, New York 10005<br>
Tel: (212) 250-2500<br>
Fax: (212) 797-2201</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All of the
provisions contained in the document attached as Annex I hereto entitled &#147;SUNCOR
ENERGY INC.&#151;Debt Securities&#151;Underwriting Agreement Standard Provisions&#148; (the &#147;Standard
Provisions&#148;) are hereby incorporated by reference in their entirety herein and
shall be deemed to be a part of this Terms Agreement to the same extent as if
such provisions had been set forth in full herein.&#160; Terms defined in such document are used
herein as therein defined.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='4',FILE='C:\Fc\17711504449_P66503CHE_2214424\17271-2-mm-01.htm',USER='jmsproofassembler',CD='Jun 26 11:50 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please accept this offer
no later than 5 o&#146;clock P.M. (New York City time) on June 25, 2007 by signing a
copy of this Terms Agreement in the space set forth below and returning the
signed copy to us.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Very
  truly yours,</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. MORGAN SECURITIES INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:23.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;/s/ Robert Bottamedi</font></p>
  </td>
  <td width="23%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Robert
  Bottamedi</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Vice
  President</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acting on behalf of itself and the other named
  Underwriters.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted:</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.76%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;/s/ Bart W. Demosky</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.76%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Bart W.
  Demosky</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.98%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Vice
  President and Treasurer</font></p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:51.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="26" style="border:none;"></td>
  <td width="170" style="border:none;"></td>
  <td width="170" style="border:none;"></td>
  <td width="27" style="border:none;"></td>
  <td width="177" style="border:none;"></td>
  <td width="177" style="border:none;"></td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='5',FILE='C:\Fc\17711504449_P66503CHE_2214424\17271-2-mm-01.htm',USER='jmsproofassembler',CD='Jun 26 11:50 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a Canadian corporation)</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt Securities</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UNDERWRITING AGREEMENT STANDARD PROVISIONS</font></p>

<p style="margin:0pt 0pt 12.0pt 30.0pt;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the Underwriters<br>
Named in the applicable Terms Agreement as hereinafter described</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and
Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suncor
Energy Inc., a Canadian corporation (the &#147;Company&#148;), proposes to issue and sell
up to US$2,000,000,000 aggregate initial public offering price of its debt
securities (the &#147;Debt Securities&#148;) from time to time, in or pursuant to one or
more offerings on terms to be determined at the time of sale.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Debt Securities will be issued in one or more series under an indenture (the &#147;Indenture&#148;),
dated as of June 25, 2007, as amended and supplemented from time to time (the &#147;Indenture&#148;),
between the Company and The Bank of New York, as trustee (the &#147;Trustee&#148;).&#160; Each series of Debt Securities may vary, as
applicable, as to title, aggregate principal amount, rank, interest rate or
formula and timing of payments thereof, stated maturity date, redemption and/or
repayment provisions, sinking fund requirements and any other variable terms
established by or pursuant to the Indenture.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These
Underwriting Agreement Standard Provisions confirm the arrangements with
respect to the purchase of Underwritten Securities (as defined below) from the
Company by the Representative (as defined in the applicable Terms Agreement (as
defined below)) and the several Underwriters listed in the applicable Terms
Agreement entered into between the Representative and the Company to which
these Underwriting Agreement Standard Provisions will be attached as Annex I
(the &#147;Terms Agreement&#148;).&#160; With respect to
any particular Terms Agreement, the provisions of these Underwriting Agreement
Standard Provisions are incorporated therein by reference.&#160; Any Terms Agreement shall be substantially in
the form of Exhibit A hereto.&#160; Terms
defined in the applicable Terms Agreement which are used herein shall have the
meaning ascribed to such terms in the applicable Terms Agreement.&#160; The Terms Agreement relating to the offering
of Debt Securities shall specify the aggregate principal amount of Debt
Securities to be issued (the &#147;Underwritten Securities&#148;), the name of each
Underwriter participating in such offering (subject to substitution as provided
in Section 10 hereof) and the name of any Underwriter other than the
Representative acting as co-manager in connection with such offering, the
aggregate principal amount of Underwritten Securities which each such
Underwriter severally agrees to purchase, whether such offering is on a fixed
or variable price basis and, if on a fixed price basis, the initial offering
price, the price at which the Underwritten Securities are to be purchased by
the Underwriters, the form, time, date and place of delivery and payment of the
Underwritten Securities and any other material variable terms of the
Underwritten Securities.</font></p>


<br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has prepared
and filed a preliminary short form base shelf
prospectus, dated February 9, 2007, and a final short form base shelf
prospectus, dated February 20, 2007, in respect of the Debt Securities with the
Alberta Securities Commission (the &#147;Reviewing Authority&#148;), and has been issued
a preliminary decision document by the Reviewing Authority for such preliminary
short form base shelf prospectus and a final decision document by the Reviewing
Authority for such final short form base shelf prospectus (hereinafter called
the &#147;Canadian Shelf Prospectus&#148;).&#160; The
Company also has prepared and filed a preliminary prospectus supplement in
respect of the Underwritten Securities with the Reviewing Authority.&#160; The term &#147;Canadian Basic Prospectus&#148; means
the Canadian Shelf Prospectus at the time the Reviewing Authority issued a
final decision document with respect thereto in accordance with National Policy
43-201 Mutual Reliance Review System for Prospectuses, the rules and procedures
established under the securities laws, rules, regulations and published policy
statements applicable in the province of Alberta (the &#147;Applicable Canadian
Securities Laws&#148;) and National Instrument 44&#151;101 Short Form Prospectus Distributions
(&#147;NI 44-101&#148;) and Companion Policy 44-101CP and National Instrument 44-102
Shelf Distributions and Companion Policy 44-102CP (collectively, the &#147;Shelf
Procedures&#148;).&#160; The prospectus supplement
relating to the Underwritten Securities to be filed with the Reviewing
Authority in accordance with Section 3(a) hereof and pursuant to the Shelf
Procedures shall be referred to herein as the &#147;Canadian Prospectus Supplement.&#148;&#160; The Canadian Basic Prospectus, as
supplemented by the Canadian Prospectus Supplement, shall be referred to herein
as the &#147;Canadian Prospectus.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Company has also filed with the Securities and Exchange Commission (the &#147;Commission&#148;)
a registration statement on Form F-9 (File No. 333-140797), providing for the
registration of the Debt Securities under the United States Securities Act of
1933, as amended (the &#147;1933 Act&#148;) and the rules and regulations of the
Commission thereunder (the &#147;1933 Act Regulations&#148;).&#160; Such registration statement, as amended,
which includes the Canadian Basic Prospectus (with such deletions therefrom and
additions thereto as are permitted or required by Form F-9 and the applicable
rules and regulations of the Commission), and any post-effective amendment
thereto filed prior to the execution of the applicable Terms Agreement, in the
form heretofore delivered or to be delivered to the Underwriters, including
exhibits to such registration statement and all documents incorporated by
reference in the prospectus contained therein, has become effective pursuant to
Rule 467 under the 1933 Act.&#160; Such
registration statement, as amended, and any post-effective amendment thereto
filed prior to the execution of the applicable Terms Agreement, including any
exhibits and all documents incorporated therein by reference, is referred to herein
as the &#147;Registration Statement.&#148;&#160; The
Company also has prepared and filed a preliminary prospectus supplement in
respect of the Underwritten Securities with the Commission.&#160; The Canadian Basic Prospectus (with such
deletions therefrom and additions thereto as are permitted or required by Form
F-9 and the applicable rules and regulations of the Commission) included in the
Registration Statement shall be referred to herein as the &#147;U.S. Basic
Prospectus.&#148;&#160; The preliminary prospectus
supplement relating to the offering of the Underwritten Securities filed with
the Commission pursuant to General Instruction II.K of Form F-9 under the 1933
Act shall be referred to herein as the &#147;U.S. Preliminary Prospectus Supplement.&#148;&#160; The final prospectus supplement to be filed
with the Commission pursuant to General Instruction II.K of Form F-9 under the
1933 Act in accordance with Section 3(a) hereof shall be referred to herein as
the &#147;U.S. Prospectus Supplement&#148;; the U.S. Basic Prospectus together with the
U.S. Preliminary Prospectus Supplement, as amended and supplemented to the
Applicable Time (as defined in Section 1(a)(i) hereof) shall be referred to
herein as the &#147;U.S. Pricing Prospectus.&#148;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='2',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The U.S. Basic
Prospectus, as supplemented by the U.S. Prospectus Supplement, shall be
referred to herein as the &#147;U.S. Prospectus.&#148;&#160;
A &#147;preliminary prospectus&#148; shall be deemed to refer to any prospectus
used before the Registration Statement became effective and, with respect to
any Underwritten Securities, any prospectus relating to such Underwritten
Securities used after such effectiveness and prior to the execution and
delivery of the applicable Terms Agreement.&#160;
Any &#147;issuer free writing prospectus&#148; as defined in Rule 433 under the
1933 Act relating to the Underwritten Securities shall be referred to herein as
an &#147;Issuer Free Writing Prospectus.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
the purposes of these Underwriting Agreement Standard Provisions and the Terms
Agreement, (i) the &#147;Applicable Time&#148; is 4:21 P.M. (Eastern time) on the date of
the Terms Agreement and (ii) the U.S. Pricing Prospectus as supplemented by the
final term sheet prepared and filed pursuant to Section 3(c) hereof and such
additional documents as are specified in Schedule I hereto, taken together,
shall be referred to herein as the &#147;Pricing Disclosure Package.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Company has prepared and filed with the Commission an appointment of agent for
service of process upon the Company on Form F-X in conjunction with the filing
of the Registration Statement (the &#147;Form F-X&#148;).&#160;
The Company has also caused the Trustee to prepare and file with the
Commission a Statement of Eligibility under the Trust Indenture Act of 1939, as
amended (the &#147;1939 Act&#148;) on Form T-1 (the &#147;Form T-1&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
references in these Underwriting Agreement Standard Provisions to the U.S. Basic
Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus,
the U.S. Prospectus, the Canadian Basic Prospectus, or the Canadian Prospectus
shall be deemed to refer to and include the documents incorporated by reference
therein as of the date of such prospectus.&#160;
All references in these Underwriting Agreement Standard Provisions to
financial statements and schedules and other information which is &#147;contained,&#148; &#147;included&#148;
or &#147;stated&#148; (or other references of like import) in the Registration Statement,
the U.S. Basic Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing
Prospectus, the U.S. Prospectus, the Canadian Basic Prospectus, the Canadian
Prospectus, or any preliminary prospectus shall be deemed to mean and include
all such financial statements and schedules and other information which is
incorporated by reference in the Registration Statement, the U.S. Basic
Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus,
the U.S. Prospectus, the Canadian Basic Prospectus, the Canadian Prospectus, or
any preliminary prospectus, as the case may be, prior to the execution of the
applicable Terms Agreement; and all references in these Underwriting Agreement
Standard Provisions to amendments or supplements to the Registration Statement,
the U.S. Basic Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing
Prospectus, the U.S. Prospectus, the Canadian Basic Prospectus, the Canadian
Prospectus or any preliminary prospectus shall be deemed to include the filing
of any document under Applicable Canadian Securities Laws or the United States
Securities Exchange Act of 1934, as amended (the &#147;1934 Act&#148;) which is
incorporated by reference in the Registration Statement, the U.S. Basic
Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus,
the U.S. Prospectus, the Canadian Basic Prospectus, the Canadian Prospectus, or
any preliminary prospectus, as the case may be, after the execution of the
applicable Terms Agreement.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='3',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations
and Warranties</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <i>Representations and Warranties by the Company.</i>&#160;&#160; The Company represents and warrants to the
Representative and to each Underwriter named in the applicable Terms Agreement,
as of the date thereof and as of the Closing Time (as defined below), as
follows:</font></h2>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Compliance with Registration Requirements</u>. The
Company meets the general eligibility requirements for use of Form F-9 under
the 1933 Act and is eligible to use the Shelf Procedures.&#160; A decision document has been obtained from
the Reviewing Authority in respect of the Canadian Basic Prospectus and no
order suspending the distribution of the Underwritten Securities has been
issued by the Reviewing Authority and no proceedings for that purpose are
pending or, to the knowledge of the Company, are contemplated by the Reviewing
Authority, and any request on the part of the Reviewing Authority for
additional information has been complied with.&#160;
The Registration Statement has become effective under the 1933 Act and
no stop order suspending the effectiveness of the Registration Statement or any
part thereof has been issued under the 1933 Act and no proceedings for that
purpose are pending or, to the knowledge of the Company, are contemplated by
the Commission, and any request on the part of the Commission for additional
information has been complied with.</p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A)&nbsp;At its
date and at the Closing Time, each of the Canadian Basic Prospectus and the
Canadian Prospectus complied or will comply in all material respects with
Applicable Canadian Securities Laws as interpreted and applied by the Reviewing
Authority (including the Shelf Procedures); (B)&nbsp;at the respective times
the Registration Statement and any post-effective amendment thereto became
effective, the U.S. Basic Prospectus conformed to the Canadian Basic
Prospectus, and at its date and at the Closing Time, the U.S. Prospectus will
conform to the Canadian Prospectus, except for such deletions therefrom and
additions thereto as are permitted or required by Form&nbsp;F-9 and the
applicable rules and regulations of the Commission; (C)&nbsp;at the respective
times the Registration Statement and any post-effective amendment thereto
became effective, the Registration Statement and any amendments or supplements
thereto complied and, at the Closing Time, will comply in all material respects
with the requirements of the 1933 Act and the 1933 Act Regulations and the
applicable requirements of the 1939 Act and the rules and regulations of the
Commission under the 1939 Act (the &#147;1939 Act Regulations&#148;); (D)&nbsp;the
Registration Statement, when it became effective and at the Applicable Time,
did not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading, nor will any amendment or supplement thereto contain an
untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not
misleading; (E) the Pricing Disclosure Package, as of the Applicable Time and
as of the Closing Time, did not and will not contain any untrue statement of a
material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading; (F) each Issuer Free Writing Prospectus listed on
Schedule I hereto does not conflict with the information contained in the
Registration Statement, the U.S. Pricing Prospectus or the U.S. Prospectus; (G)
the U.S. Prospectus, as of its date and as of the Closing Time, did not and
will not contain any untrue statement of a material fact or omit</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='4',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to state a material fact
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and (H)&nbsp;at its date and at the
Closing Time, the Canadian Prospectus and any amendment or supplement thereto
will constitute full, true and plain disclosure of all material facts relating
to the Debt Securities and the Underwritten Securities, except that the representations
and warranties contained in clauses&nbsp;(D), (E), (F), (G), and (H) above do
not apply to statements or omissions made in reliance upon and in conformity
with information furnished in writing to the Company by the Underwriters
expressly for use in the Registration Statement, the U.S. Basic Prospectus, the
U.S. Pricing Prospectus, any Issuer Free Writing Prospectus, the U.S.
Prospectus, the Canadian Basic Prospectus or the Canadian Prospectus, or to the
Form T-1 of the Trustee.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>  <u>Incorporated Documents</u>.&#160; The documents incorporated or deemed to be
incorporated by reference in the Registration Statement, the Pricing Disclosure
Package, the U.S. Prospectus and the Canadian Prospectus, at the time they were
or hereafter are filed with the Commission or the Reviewing Authority, as
applicable, complied and will comply in all material respects with the
requirements of all Applicable Canadian Securities Laws and the 1934 Act and
the rules and regulations of the Commission thereunder (the &#147;1934 Act
Regulations&#148;), as applicable, and, when read together with the other
information in the Pricing Disclosure Package, the U.S. Prospectus and the
Canadian Prospectus, at the time the Registration Statement became effective,
at the Applicable Time and at the Closing Time, did not and will not contain an
untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not
misleading.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Independent Accountants</u>. The accountants who
certified the financial statements and supporting schedules, if any, included
or incorporated by reference in the Registration Statement, the Pricing
Disclosure Package, the U.S. Prospectus and the Canadian Prospectus, are
independent with respect to the Company within the meaning of the Canada
Business Corporations Act and Applicable Canadian Securities Laws, and are
independent public accountants as required by the 1933 Act and the 1933 Act
Regulations.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Financial Statements</u>.&#160; The financial statements included or incorporated
by reference in the Registration Statement, the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus, together with the related
schedules, if any, and notes, present fairly the financial position of the
Company and its consolidated subsidiaries at the dates indicated and the
statement of operations, shareholders&#146; equity and cash flows of the Company and
its consolidated subsidiaries for the periods specified; said financial
statements have been prepared in conformity with generally accepted accounting
principles in Canada (&#147;Canadian GAAP&#148;) applied on a consistent basis throughout
the periods involved (or, if the Company hereafter determines to prepare its
consolidated financial statements in accordance with generally accepted
accounting principles in effect from time to time in the United States, such
principles) (except for any U.S. GAAP Reconciliation Note included or
incorporated by reference in the Canadian Prospectus and U.S. Prospectus, which
presents a reconciliation of Canadian GAAP to generally accepted accounting
principles in the United States which has been</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='5',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">prepared in
conformity with United States generally accepted accounting principles).&#160; The supporting schedules, if any, included in
the Registration Statement present fairly in accordance with Canadian GAAP the
information required to be stated therein.&#160;
The selected financial and operating data included in the Registration
Statement, the Pricing Disclosure Package, the U.S. Prospectus and the Canadian
Prospectus present or will present fairly the information shown therein and
have been compiled or will be compiled on a basis consistent with that of the
audited financial statements included or incorporated by reference in the
Registration Statement, the Pricing Disclosure Package, the U.S. Prospectus and
the Canadian Prospectus.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Material Adverse Change in Business</u>.&#160; Since the respective dates as of which
information is given in the Registration Statement, the Pricing Disclosure
Package, the U.S. Prospectus and the Canadian Prospectus, or any of the
documents incorporated therein by reference, except as otherwise stated
therein, (A) there has been no material adverse change in the condition,
financial or otherwise, or in the earnings, business affairs or business
prospects of the Company and its subsidiaries considered as one enterprise,
whether or not arising in the ordinary course of business (a &#147;Material Adverse
Effect&#148;), (B) there have been no transactions entered into by the Company or
any of its subsidiaries, other than those in the ordinary course of business,
which are material with respect to the Company and its subsidiaries considered
as one enterprise, and (C) except for regular quarterly dividends on the common
shares of the Company in amounts per share that are consistent with past
practice, there has been no dividend or distribution of any kind declared, paid
or made by the Company on any class of its common shares.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Good Standing of the Company</u>.&#160; The Company has been duly organized and is validly
existing as a corporation in good standing under the federal laws of Canada and
has corporate power and authority to own, lease and operate its properties and
to conduct its business as described in the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus and to enter into and perform its
obligations under the applicable Terms Agreement; and the Company is duly
qualified or registered as an extra-provincial or foreign corporation to
transact business and is in good standing in each other jurisdiction in which
such qualification or registration is required, whether by reason of the
ownership or leasing of property or the conduct of business, except where the
failure so to qualify or register or to be in good standing would not result in
a Material Adverse Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Good Standing of Subsidiaries</u>.&#160; Suncor Energy Oil Sands Limited Partnership
and Suncor Energy Products Inc. are the only&#160;
&#147;significant subsidiaries&#148; of the Company (as such term is defined in
Rule 1-02 of Regulation S-X) (the &#147;Subsidiaries&#148;).&#160; Each of the Subsidiaries has been duly
organized and is subsisting and in good standing, if applicable, under the laws
of the jurisdiction of its organization, has appropriate power and authority or
capacity to own, directly or indirectly, lease and operate its properties and
to conduct its business as described in the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus and is duly qualified or registered
as an extra-provincial or foreign corporation or limited partnership, as the
case may be, to transact business and is in good standing, if applicable, in
each jurisdiction in which such qualification or registration is required,
whether by reason of the ownership</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='6',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or leasing of
property or the conduct of business, except where the failure so to qualify or
register or to be in good standing would not result in a Material Adverse
Effect; except as otherwise disclosed in the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus, all of the issued and outstanding
shares or partnership interests (or other equity interests), as the case may
be, of each of the Subsidiaries have been duly authorized and validly issued,
are fully paid and non-assessable and are owned by the Company, directly or through
subsidiaries, free and clear of any security interest, mortgage, pledge, lien,
encumbrance, claim or equity; none of the outstanding shares or partnership
interests (or other equity interests), as the case may be, of each of the
Subsidiaries was issued in violation of the preemptive or similar rights of any
securityholder of the applicable Subsidiary.&#160;
The only subsidiaries of the Company are the Subsidiaries and Suncor
Energy Marketing Inc. and certain other subsidiaries which, considered in the
aggregate as a single subsidiary, do not constitute a &#147;significant subsidiary&#148;
as defined in Rule 1-02 of Regulation S-X.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Capitalization</u>. If the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus contain a &#147;Consolidated Capitalization&#148;
section (or a section with a substantially similar heading), the share capital
of the Company is as set forth in the Pricing Disclosure Package, the U.S.
Prospectus and the Canadian Prospectus in the column entitled &#147;Actual&#148; under
the caption &#147;Consolidated Capitalization&#148; (or a section with a substantially
similar heading) (except for subsequent issuances, if any, pursuant to
reservations, agreements or employee benefit plans referred to in the Pricing
Disclosure Package, the U.S. Prospectus and the Canadian Prospectus, or
pursuant to the exercise of convertible securities or options referred to in
the Pricing Disclosure Package, the U.S. Prospectus and the Canadian
Prospectus).&#160; The issued and outstanding
common shares of the Company have been duly authorized and validly issued and
are fully paid and non-assessable; none of the outstanding common shares of the
Company was issued in violation of the preemptive or other similar rights of
any securityholder of the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Authorization of Terms Agreement</u>.&#160; The applicable Terms Agreement, as of the
date thereof, has been duly authorized, executed and delivered by the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Authorization of the Indenture</u>.&#160; The Indenture has been duly authorized, and
at the Closing Time, will be or will have been duly executed and delivered by
the Company and duly qualified under the 1939 Act and, upon such authorization,
execution and delivery, will constitute a valid and binding agreement of the
Company, enforceable against the Company in accordance with its terms, except
as the enforcement thereof may be limited by bankruptcy, insolvency (including,
without limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or similar laws affecting enforcement of creditors&#146; rights generally
and except as enforcement thereof is subject to general principles of equity
(regardless of whether enforcement is considered in a proceeding in equity or
at law).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Authorization of the Debt Securities</u>.&#160; The Underwritten Securities being sold
pursuant to the applicable Terms Agreement have been, or as of the date of such
Terms Agreement will have been, duly authorized by the Company for issuance and
sale pursuant to such Terms Agreement.&#160;
Such Underwritten Securities, when issued and</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='7',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">authenticated in
the manner provided for in the Indenture and delivered against payment of the
consideration therefor specified in such Terms Agreement, will constitute valid
and binding obligations of the Company entitled to the benefits of the
Indenture, enforceable against the Company in accordance with their terms,
except as the enforcement thereof may be limited by bankruptcy, insolvency
(including, without limitation, all laws relating to fraudulent transfers),
reorganization, moratorium or other similar laws affecting the enforcement of
creditors&#146; rights generally and except as enforcement thereof is subject to
general principles of equity (regardless of whether enforcement is considered
in a proceeding in equity or at law), and except further as enforcement thereof
may be limited by requirements that a claim with respect to any Debt Securities
payable in a foreign or composite currency (or a foreign or composite currency
judgment in respect of such claim) be converted into U.S. dollars at a rate of
exchange prevailing on a date determined pursuant to applicable law or by
governmental authority to limit, delay or prohibit the making of payments
outside the United States.&#160; Such
Underwritten Securities will be in the form contemplated by the Indenture.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Description of the Underwritten Securities and the
Indenture</u>.&#160; The Underwritten
Securities being sold pursuant to the applicable Terms Agreement, as of the
date of each Terms Agreement and as of the Closing Time, will conform in all
material respects to the respective statements relating thereto contained in
the Pricing Disclosure Package, the U.S. Prospectus and the Canadian
Prospectus, and the Indenture will be in substantially the form filed as an
exhibit to the Registration Statement.</p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Collateral Documents</u>.&#160; Each of the Collateral Documents (as defined
in Exhibit A hereto), if any, has been, or as of the date of the applicable
Terms Agreement will have been, duly authorized and, assuming due
authorization, execution and delivery thereof by the other parties thereto,
when executed and delivered by the Company and its subsidiaries, respectively,
will constitute a legal, valid and binding instrument enforceable against the
Company and its subsidiaries, respectively, in accordance with its terms,
except as the enforcement thereof may be limited by bankruptcy, insolvency
(including, without limitation, all laws relating to fraudulent transfers),
reorganization, moratorium or other similar laws affecting the enforcement of
creditors&#146; rights generally and except as enforcement thereof is subject to
general principles of equity (regardless of whether enforcement is considered
in a proceeding in equity or at law); except to perfect any security interest
granted thereunder, no registration, filing or recording under the laws of
Canada or any province thereof is necessary in order to preserve or protect the
validity or enforceability of each of the Collateral Documents, if any; as of
the date of each Terms Agreement and as of the Closing Time, each of the
Collateral Documents, if any, will conform in all material respects to the
respective statements relating thereto contained in the Pricing Disclosure
Package, the U.S. Prospectus and the Canadian Prospectus.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Absence of Defaults and Conflicts</u>.&#160; Neither the Company nor any of its
subsidiaries is in violation of its constating documents or by-laws or in
default in the performance or observance of any obligation, agreement, covenant
or condition contained in any contract, indenture, mortgage, deed of trust,
loan or credit agreement, note, lease or other agreement or instrument to which
the Company or any of its subsidiaries is a</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='8',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">party or by which
it or any of them may be bound, or to which any of the property or assets of
the Company or any subsidiary is subject (collectively, &#147;Agreements and
Instruments&#148;) except for such defaults that would not result in a Material
Adverse Effect; and the execution, delivery and performance of the applicable
Terms Agreement, the Indenture, the Underwritten Securities and any other
agreement or instrument entered into or issued or to be entered into or issued
by the Company in connection with the transactions contemplated herein, and the
consummation of the transactions contemplated herein and in the Registration
Statement, the Pricing Disclosure Package, the U.S. Prospectus and the Canadian
Prospectus, the issuance and sale of the Underwritten Securities and the use of
the proceeds from the sale of the Underwritten Securities as described in the
Pricing Disclosure Package, the U.S. Prospectus and the Canadian Prospectus
under the caption &#147;Use of Proceeds&#148; and compliance by the Company with its
obligations hereunder and thereunder have been duly authorized by all necessary
corporate action and do not and will not, whether with or without the giving of
notice or passage of time or both, conflict with or constitute a breach of, or
default or Repayment Event (as defined below) under, or result in the creation
or imposition of any lien, charge or encumbrance upon any property or assets of
the Company or any of its subsidiaries pursuant to, the Agreements and
Instruments (except for such conflicts, breaches or defaults or liens, charges
or encumbrances that would not result in a Material Adverse Effect), nor will
such action result in any violation of the provisions of (A) the charter,
by-laws or other governing documents of the Company or the Subsidiaries, as the
case may be, or (B) any applicable law, statute, rule, regulation, judgment,
order, writ or decree of any government, government instrumentality or court,
domestic or foreign, having jurisdiction over the Company or the Subsidiaries
or any of their assets, properties or operations, which violation would, in the
case of clause (B) only, have a Material Adverse Effect.&#160; As used herein, a &#147;Repayment Event&#148; means any
event or condition which gives the holder of any note, debenture or other
evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of
such indebtedness by the Company or any subsidiary.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Absence of Labor Dispute</u>.&#160; No labor dispute with the employees of the
Company or any subsidiary exists or, to the knowledge of the Company, is
imminent, which may reasonably be expected to result in a Material Adverse
Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Absence of Proceedings</u>.&#160; There is no action, suit, proceeding, inquiry
or investigation before or brought by any court or governmental agency or body,
domestic or foreign, now pending, or, to the knowledge of the Company,
threatened, against or affecting the Company or any subsidiary, which is
required to be disclosed in the Registration Statement, the Pricing Disclosure
Package, the U.S. Prospectus or the Canadian Prospectus (other than as
disclosed therein), or which might reasonably be expected to result in a
Material Adverse Effect, or which might reasonably be expected to materially
and adversely affect the respective properties and assets of the Company and
its subsidiaries, considered as one enterprise, or the consummation of the
transactions contemplated under the applicable Terms Agreement and the
Indenture, or the performance by the Company of its obligations hereunder and
thereunder.&#160; The aggregate of all pending
legal or governmental proceedings to which the Company or any subsidiary is a
party or of which any of their respective property or assets is the subject</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='9',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">which are not
described in the Registration Statement, the Pricing Disclosure Package, the
U.S. Prospectus or the Canadian Prospectus, including ordinary routine litigation
incidental to the business of the Company and its subsidiaries, could not
reasonably be expected to result in a Material Adverse Effect.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <u>Accuracy of Exhibits</u>.&#160;
There are no contracts, documents or other materials which are required
to be described or referred to in the Registration Statement, the Pricing
Disclosure Package, the U.S. Prospectus, the Canadian Prospectus or the
documents incorporated by reference therein, or to be filed as exhibits to the
Registration Statement, which have not been so described, referred to or filed
as required.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font>&#160;&#160;&#160;&#160;&#160; <u>Possession of Intellectual Property</u>.&#160; The Company and the Subsidiaries own or
possess, or can acquire on reasonable terms, adequate patents, patent rights,
licenses, inventions, copyrights, know-how (including trade secrets and
other unpatented and/or unpatentable proprietary or confidential information,
systems or procedures), trademarks, service marks, trade names or other
intellectual property (collectively, &#147;Intellectual Property&#148;) necessary to
carry on the business now operated by them, and neither the Company nor any of
its subsidiaries has received any notice or is otherwise aware of any
infringement of or conflict with asserted rights of others with respect to any
Intellectual Property or of any facts or circumstances which would render any
Intellectual Property invalid or inadequate to protect the interest of the
Company or any of its subsidiaries therein, and which infringement or conflict
(if the subject of any unfavorable decision, ruling or finding) or invalidity
or inadequacy, singly or in the aggregate, would result in a Material Adverse
Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Absence of Further Requirements</u>.&#160; No filing with, or authorization, approval,
consent, license, order, registration, qualification or decree of any
government, governmental authority, agency or instrumentality or court of
(A)&nbsp;any Province of Canada, (B)&nbsp;the federal government of Canada,
(C)&nbsp;the federal government of the United States or (D)&nbsp;the various
States of the United States in which any Underwritten Securities are to be
offered for sale or sold, or of any political subdivision of any of the
foregoing (other than under the 1933 Act, the 1933 Act Regulations, the 1939
Act, the securities or blue sky laws of the various States of the United States
and the securities laws of the Reviewing Authority), is required for the valid
authorization, issuance, sale and delivery of such Underwritten Securities or
the execution, delivery or performance of the applicable Terms Agreement and
the Indenture by the Company, in each case as contemplated by the Pricing
Disclosure Package, the U.S. Prospectus, the Canadian Prospectus, the
applicable Terms Agreement and the Indenture, except such as have been already
made, obtained or rendered, as applicable.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Possession of Licenses and Permits</u>.&#160; The Company and the Subsidiaries possess such
permits, licenses, approvals, consents and other authorizations (collectively, &#147;Governmental
Licenses&#148;) issued by the appropriate federal, provincial, state, local or foreign
regulatory agencies or bodies necessary to conduct the business now operated by
them in the manner described in the Pricing Disclosure Package, the U.S.
Prospectus and the Canadian Prospectus, except where the failure to have a
Governmental License would not result in a Material Adverse Effect; the Company
and the Subsidiaries are in</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='10',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">compliance with
the terms and conditions of all such Governmental Licenses, except where the
failure so to comply would not, singly or in the aggregate, have a Material
Adverse Effect; all of the Governmental Licenses are valid and in full force
and effect, except when the invalidity of such Governmental Licenses or the
failure of such Governmental Licenses to be in full force and effect would not
have a Material Adverse Effect; and neither the Company nor the Subsidiaries
has received any notice of proceedings relating to the revocation or
modification of any such Governmental Licenses which, singly or in the
aggregate, if the subject of an unfavorable decision, ruling or finding, would
result in a Material Adverse Effect.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Title to Property</u>.&#160;
The Company and its subsidiaries have good and marketable title to all
real property owned by the Company or its subsidiaries and good title to all
other properties owned by either of them, in each case, free and clear of all
mortgages, pledges, liens, security interests, claims, restrictions or
encumbrances of any kind except such as (a) are described in the Pricing
Disclosure Package, the U.S. Prospectus and the Canadian Prospectus or (b)
would not reasonably be expected to, in the aggregate, have a Material Adverse
Effect; and except where such, in the aggregate, would not have a Material
Adverse Effect, all of the leases and subleases relevant to the business of the
Company and its subsidiaries, and under which the Company or any of its
subsidiaries holds properties described in the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus, are in full force and effect, and
neither the Company nor any of its subsidiaries has any notice of any material
claim of any sort that has been asserted by anyone adverse to the rights of the
Company or any subsidiary under any of the leases or subleases mentioned above,
or affecting or questioning the rights of the Company or such subsidiary to the
continued possession of the leased or subleased premises under any such lease
or sublease.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Investment Company Act</u>.&#160; The Company is not, and upon the issuance and
sale of the Underwritten Securities as herein contemplated and the application
of the net proceeds therefrom as described in the Pricing Disclosure Package,
the U.S. Prospectus and the Canadian Prospectus will not be, an &#147;investment
company,&#148; as such term is defined in the Investment Company Act of 1940, as
amended.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <u>Environmental Laws</u>.&#160;
Except as described in the Registration Statement, the Pricing
Disclosure Package, the U.S. Prospectus and the Canadian Prospectus or except
as would not, singly or in the aggregate, result in a Material Adverse Effect,
(A) neither the Company nor any of its subsidiaries is in violation of any
federal, provincial, state, local or foreign statute, law, rule, regulation,
ordinance, code, policy or rule of common law or any judicial or administrative
interpretation thereof, including any judicial or administrative order,
consent, decree or judgment, relating to pollution or protection of human
health, the environment (including, without limitation, ambient air, surface
water, groundwater, land surface or subsurface strata) or wildlife, including,
without limitation, laws and regulations relating to the release or threatened
release of chemicals, pollutants, contaminants, wastes, toxic substances,
hazardous substances, petroleum or petroleum products (collectively, &#147;Hazardous
Materials&#148;) or to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Hazardous Materials (collectively, &#147;Environmental
Laws&#148;), (B) the Company</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='11',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and its
subsidiaries have all permits, authorizations and approvals required under any
applicable Environmental Laws and are each in compliance with their
requirements, (C) there are no pending or, to the knowledge of the Company,
threatened administrative, regulatory or judicial actions, suits, demands,
demand letters, claims, liens, notices of noncompliance or violation,
investigation or proceedings relating to any Environmental Law against the
Company or any of its subsidiaries and (D) there are no events or circumstances
that might reasonably be expected to form the basis of an order for clean-up or
remediation, or an action, suit or proceeding by any private party or
governmental body or agency, against or affecting the Company or any of its
subsidiaries relating to Hazardous Materials or any Environmental Laws.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiv)&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Registration
Rights</u>.&#160; There are no persons with
registration rights or other similar rights to have any securities registered
pursuant to the Registration Statement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Other Reports
and Information</u>. There are no reports or information that, in accordance
with the requirements of the Reviewing Authority, must be made publicly
available in connection with the offering of the Underwritten Securities that
have not been made publicly available as required; there are no documents
required to be filed with the Reviewing Authority in connection with the
Canadian Prospectus that have not been filed as required.</p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvi)&#160;&#160;&#160;&#160;&#160;&#160; <u>Issuer Eligibility</u>.&#160; At the earliest time after the filing of the
Registration Statement that the Company or another offering participant made a
bona fide offer (within the meaning of Rule 164(h)(2)) of the 1933 Act, the
Company was not and is not an Ineligible Issuer (as defined in Rule 405 under
the 1933 Act), without taking account of any determination by the Commission
pursuant to Rule 405 that it is not necessary that the Company be considered an
Ineligible Issuer.&#160; The Representative
has notified the Company of the earliest time that an offering participant made
a bona fide offer of the Underwritten Securities.</font></p>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160; <i>Officers&#146; Certificates.</i>&#160;&#160;
Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to any Underwriter or to counsel for the
Underwriters in connection with the offering of the Underwritten Securities
shall be deemed a representation and warranty by the Company to each
Underwriter as to the matters covered thereby on the date of such certificate.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Sale
and Delivery to Underwriters; Closing</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <i>Underwritten Securities.</i>&#160;&#160;
The several obligations of the Underwriters to purchase and the obligations
of the Company to sell any Underwritten Securities shall be evidenced by a
Terms Agreement.&#160; The several commitments
of the Underwriters to purchase the Underwritten Securities pursuant to the
applicable Terms Agreement shall be deemed to have been made on the basis of
the representations, warranties and agreements herein contained and shall be
subject to the terms and conditions herein set forth.</font></h2>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;<i>Payment.</i>&#160;&#160; Payment of
the purchase price for, and delivery of, the Underwritten Securities shall be
made at the offices of Canadian counsel for the company, or at such other</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">12</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='12',FILE='C:\Fc\17711544917_P66503CHE_2214424\17271-2-mm-03.htm',USER='jmsproofassembler',CD='Jun 26 11:54 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">place as shall be agreed
upon by the Representative and the Company, at 9:00&nbsp;A.M. (Eastern time) on
the third (fourth, if the pricing occurs after 4:30 P.M. (Eastern time) on any
given day) business day after the date of the applicable Terms Agreement (unless
postponed in accordance with the provisions of Section&nbsp;10 hereof), or such
other time not later than ten business days after such date as shall be agreed
upon by the Representative and the Company (such time and date of payment and
delivery being herein called the &#147;Closing Time&#148;).</font></h2>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment
shall be made to the Company by check or wire transfer of immediately available
funds to a bank account designated by the Company, against delivery to the
Representative for the respective accounts of the Underwriters of the
Underwritten Securities to be purchased by them.&#160; It is understood that each Underwriter has
authorized the Representative, for its account, to accept delivery of, receipt
for, and make payment of the purchase price for the Underwritten Securities which
it has severally agreed to purchase.&#160; The
Representative, individually and not as a representative of the Underwriters,
may (but shall not be obligated to) make payment of the purchase price for the
Underwritten Securities to be purchased by any Underwriter whose funds have not
been received by the Closing Time, but such payment shall not relieve such
Underwriter from its obligations hereunder.</font></p>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160; <i>Denominations;
Registration.</i>&#160;&#160; The
Underwritten Securities or certificates for the Underwritten Securities, as
applicable, shall be in such denominations and registered in such name or names
as the Representative may request in writing at least two full business days
prior to the Closing Time.&#160; The
Underwritten Securities or certificates for the Underwritten Securities, as
applicable, will be made available for examination and packaging by the
Representative in the City of New York not later than 10:00&nbsp;A.M. (Eastern
time) on the business day prior to the Closing Time.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Covenants of the Company</u>.&#160;&#160; The Company covenants with the
Representative and with each Underwriter named in the Terms Agreement in
connection with an offering of Underwritten Securities, as follows:</font></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compliance with
Securities Regulations and Commission Requests</i>.&#160; The Company will prepare a final supplement
to the Canadian Basic Prospectus and the U.S. Basic Prospectus in relation to
the applicable Underwritten Securities in a form approved by the
Representative, and to file (i) such supplement to the Canadian Basic
Prospectus with the Reviewing Authority in accordance with the Shelf Procedures
not later than the Reviewing Authority&#146;s close of business on the second
business day following the execution and delivery of the Terms Agreement
relating to the Underwritten Securities and (ii) such supplement to the U.S.
Basic Prospectus with the Commission pursuant to General Instruction II.K. of
Form F-9 not later than the Commission&#146;s close of business on the business day
following the date of the filing thereof with the Reviewing Authority; and the
Company will notify the Underwriters promptly, and confirm the notice in
writing, (i)&nbsp;when any post-effective amendment to the Registration
Statement shall have been filed with the Commission or shall have become
effective, and when any supplement to the U.S. Basic Prospectus or Canadian
Basic Prospectus, or any amended U.S. Basic Prospectus, U.S. Prospectus,
Canadian Basic Prospectus or Canadian Prospectus shall have been filed,
(ii)&nbsp;of the receipt of any comments from the Reviewing Authority or the
Commission, (iii)&nbsp;of any request by the Reviewing Authority to amend or
supplement the Canadian Basic Prospectus or, if applicable, the Canadian
Prospectus, or for additional information or of any</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">13</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='13',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">request by the Commission to amend the Registration Statement or to
amend or supplement the U.S. Basic Prospectus or, if applicable, the U.S.
Prospectus, or for additional information, (iv)&nbsp;of the issuance by the
Commission of any stop order suspending the use of the Registration Statement,
the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus, the U.S.
Prospectus or any preliminary prospectus, or of the suspension of the
qualification of the Debt Securities for offering or sale in any jurisdiction,
or of the institution or, to the knowledge of the Company, threatening of any
proceedings for any of such purposes and (v) of the issuance by the Reviewing
Authority or any stock exchange in Canada of any order having the effect of
ceasing or suspending the distribution of the Underwritten Securities, or during
the period of distribution of the Underwritten Securities, the trading in the
shares or any other securities of the Company, or of the institution or, to the
knowledge of the Company, threatening of any proceedings for any such purpose.&#160; The Company will use every reasonable effort
to prevent the issuance of any such stop order or of any order preventing or
suspending such use or such order ceasing or suspending the distribution of the
Underwritten Securities or the trading in the shares or any other securities of
the Company and, if any such order is issued, to obtain the lifting thereof at
the earliest possible time.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Filing of Amendments</i>.&#160; The Company will not at any time file or make
any amendment to the Registration Statement, or any amendment or supplement to
the U.S. Basic Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing
Prospectus, the U.S. Prospectus, the Canadian Basic Prospectus, or the Canadian
Prospectus, of which the Underwriters shall not have previously been advised and
furnished copies or to which the Underwriters shall have objected promptly
after reasonable notice thereof; <i>provided, however,</i>
that this provision shall not prohibit the Company from complying in a timely
manner with its disclosure obligations under applicable securities legislation
and the requirements of any relevant stock exchange.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Preparing and Filing of the Final Term Sheet.</i>&#160; The Company will prepare a final term sheet,
containing solely a description of the Underwritten Securities in a form approved
by the Representative and set forth in Schedule II, and will file such term
sheet with the Commission pursuant to Rule 433(d) under the 1933 Act within the
time required by such Rule.&#160; The Company
also will promptly file all material required to be filed by the Company with
the Commission pursuant to Rule 433(d) under the 1933 Act.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Free Writing Prospectuses</i>.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)
The Company represents and agrees that, other than the final term sheet
prepared and filed pursuant to Section 3(c) hereof, without the prior consent
of the Representative, it and its agents and representatives, other than the
Underwriters in their capacity as such, have not made and will not make any
offer relating to the Underwritten Securities that would constitute a &#147;free
writing prospectus&#148; as defined in Rule 405 under the 1933 Act; (ii) each
Underwriter represents and agrees that, without the prior consent of the
Company and the Representative, other than the final term sheet prepared and
filed pursuant to Section 3(c) hereof, it has not made and will not make any
offer relating to the Underwritten Securities that would constitute a free
writing prospectus; and (iii) any such free writing prospectus the use of which
has been consented to by the Company and the Representative (including the
final term sheet prepared and filed pursuant to Section 3(c) hereof) is listed
on Schedule I hereto.&#160; Any such free</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">14</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='14',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">writing prospectus consented to by the Representative, each Underwriter
and the Company shall be referred to as a &#147;Permitted Free Writing Prospectus.&#148;&#160; The Company agrees that it has treated and
will treat, as the case may be, each Permitted Free Writing Prospectus as an
Issuer Free Writing Prospectus.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company has complied and will comply with the requirements of Rules 164 and 433
under the 1933 Act applicable to any Permitted Free Writing Prospectus,
including timely filing with the Commission or retention where required and
legending.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Delivery of Filed
Documents</i>.&#160; The Company has
furnished or will deliver to the Representative and counsel for the
Underwriters, for delivery to each Underwriter, without charge, a reasonably
sufficient number of (i) signed and conformed copies of the Registration
Statement as originally filed and of each amendment thereto (including exhibits
filed therewith or incorporated by reference therein and documents incorporated
or deemed to be incorporated by reference therein, and including a signed copy
of the Form F-X), (ii) signed copies of the Canadian Basic Prospectus,
approved, signed and certified as required by the Applicable Canadian
Securities Laws, and (iii) signed copies of all consents and certificates of
experts.</p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><i><font size="2" style="font-size:10.0pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Delivery
of Prospectuses</font></i><font size="2" style="font-size:10.0pt;">.&#160; The Company has delivered to each
Underwriter, without charge, as many copies of each preliminary prospectus as
such Underwriter reasonably requested, and the Company hereby consents to the
use of such copies for purposes permitted by the 1933 Act.&#160; The Company will furnish to each Underwriter,
without charge, during the period when the U.S. Prospectus is required to be
delivered under the 1933 Act or the 1934 Act (or in lieu thereof the notice
referred to in Rule 173(a) under the 1933 Act), or the Canadian Prospectus is
required to be delivered under the Applicable Canadian Securities Laws, such number
of copies of the U.S. Prospectus and Canadian Prospectus (each as amended or
supplemented) as such Underwriter may reasonably request.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Continued Compliance
with Securities Laws</i>.&#160; The
Company will comply with the 1933 Act and the 1933 Act Regulations, the 1939
Act and the 1939 Act Regulations and the Applicable Canadian Securities Laws so
as to permit the completion of the distribution of the Underwritten Securities
as contemplated in the applicable Terms Agreement, the Registration Statement,
the Pricing Disclosure Package, the U.S. Prospectus and the Canadian
Prospectus.&#160; If at any time when a
prospectus is required by the 1933 Act or the Applicable Canadian Securities
Laws to be delivered (or in lieu thereof the notice referred to in Rule 173(a)
under the 1933 Act) in connection with sales of the Underwritten Securities,
any event shall occur or condition shall exist as a result of which it is
necessary, in the opinion of counsel for the Underwriters or for the Company,
to amend the Registration Statement or amend or supplement the Pricing
Disclosure Package, the U.S. Prospectus, or the Canadian Prospectus in order
that the Pricing Disclosure Package, the U.S. Prospectus, or the Canadian
Prospectus will not include any untrue statements of a material fact or omit to
state a material fact necessary in order to make the statements therein not
misleading in the light of the circumstances existing at the time it is
delivered to a purchaser, or if it shall be necessary, in the opinion of such
counsel, at any such time to amend the Registration Statement or amend or
supplement the Pricing Disclosure Package, the U.S. Prospectus, or the Canadian
Prospectus in order to comply with the requirements of the 1933 Act or the 1933
Act Regulations or the Applicable Canadian Securities Laws, the Company will
promptly prepare and file with the Commission and with the Reviewing Authority,
subject to</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">15</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='15',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3(b), such amendment or supplement as may be necessary to
correct such statement or omission or to make the Registration Statement, the
Pricing Disclosure Package, the U.S. Prospectus, or the Canadian Prospectus
comply with such requirements, and the Company will furnish to the Underwriters
such number of copies of such amendment or supplement as the Underwriters may reasonably
request.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Blue Sky Qualifications</i>.&#160; The Company will use its reasonable best
efforts, in cooperation with the Underwriters, to qualify the Underwritten
Securities for offering and sale under the applicable securities laws of such
states and other jurisdictions of the United States as the Representative may
designate and to maintain such qualifications in effect as long as required for
the distribution of the Underwritten Securities; provided, however, that the
Company shall not be obligated to file any general consent to service of
process or to qualify as a foreign corporation or as a dealer in securities in
any jurisdiction in which it is not so qualified or to subject itself to
taxation in respect of doing business in any jurisdiction in which it is not
otherwise so subject.&#160; In each
jurisdiction in which the Underwritten Securities have been so qualified, the
Company will file such statements and reports as may be required by the laws of
such jurisdiction to continue such qualification in effect for as long as
required for the distribution of the Underwritten Securities.&#160; The Company will also supply the
Representative with such information as is necessary for the determination of
the legality of the Underwritten Securities for investment under the laws of
such jurisdictions as the Representative may reasonably request.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rule 158</i>.&#160; The Company will timely file such reports
pursuant to the 1934 Act as are necessary in order to make generally available
to its securityholders as soon as practicable an earnings statement for the
purposes of, and to provide the benefits contemplated by, the last paragraph of
Section 11(a) of the 1933 Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Use of Proceeds</i>.&#160; The Company will use the net proceeds
received by it from the sale of the Debt Securities in the manner specified in
the Pricing Disclosure Package, U.S. Prospectus and the Canadian Prospectus
under the caption &#147;Use of Proceeds.&#148;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Restriction on Sale of
Securities</i>. Between the date of the applicable Terms Agreement and
the Closing Time or such other date specified in such Terms Agreement, the
Company will not, without the prior written consent of the Representative,
directly or indirectly, issue, sell, offer or contract to sell, grant any
option for the sale of, or otherwise dispose of, any securities substantially
similar to the Debt Securities specified in such Terms Agreement. The foregoing
sentence shall not apply to (A) the Debt Securities to be sold under the
applicable Terms Agreement, (B) debt securities which mature not more than one
year from their date of issue, (F) medium terms notes denominated in Canadian
dollars, (C) debt securities issued to any of the Company&#146;s subsidiaries or
affiliates, and (D) such other exceptions, if any, specified in the applicable
Terms Agreement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reporting Requirements</i>.&#160; The Company, during the period when the U.S.
Prospectus is required to be delivered under the 1933 Act or the 1934 Act (or
in lieu thereof the notice referred to in Rule 173(a) under the 1933 Act), will
file all documents required to be filed with the Commission pursuant to the
1933 Act and the 1934 Act, within the time periods required by the 1933 Act,
the 1934 Act, and the rules and regulations of the Commission</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">16</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='16',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">thereunder; and, until the distribution of the Underwritten Securities
is completed, will file all documents required to be filed with the Reviewing
Authority.</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><i><font size="2" style="font-size:10.0pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Supplement
Filing Procedures</font></i><font size="2" style="font-size:10.0pt;">.&#160; In connection with each offering of
Underwritten Securities, the Company will take such steps as it deems necessary
to ascertain promptly whether (i) the Canadian Prospectus prepared in
connection with such offering was received for filing by the Reviewing
Authority and (ii) the U.S. Prospectus&#160;
prepared in connection with such offering and transmitted for filing
pursuant to General Instruction II.K. of Form&nbsp;F-9 was received for filing
by the Commission, and, in the event that any such prospectuses were not
received for filing, it will promptly file any such prospectus not then
received for filing.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment
of Expenses</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <i>Expenses. </i>&#160;&#160;The Company will pay all expenses incident to
the performance of its obligations under the applicable Terms Agreement,
including (i) the preparation, printing and filing of the Registration
Statement (including financial statements and exhibits and the Form F-X) as
originally filed and of each amendment thereto, the preliminary prospectuses,
the U.S. Basic Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing
Prospectus, the U.S. Prospectus, the Canadian Basic Prospectus, the Canadian
Prospectus, and any amendments or supplements thereto, and the furnishing of
copies thereof to the Underwriters, (ii) the printing and delivery to the
Underwriters of these Underwriting Agreement Standard Provisions, any Terms
Agreement, any agreement among Underwriters, the Indenture and such other
documents as may be required in connection with the offering, purchase, sale,
issuance or delivery of the Underwritten Securities, (iii) the preparation,
issuance and delivery of the Underwritten Securities and any certificates for
the Underwritten Securities, as applicable, to the Underwriters, including any
transfer taxes and any stamp or other duties payable upon the sale, issuance or
delivery of the Underwritten Securities to the Underwriters, (iv) the fees and
disbursements of the Company&#146;s counsel, accountants and other advisors or
agents (including transfer agents and registrars), as well as the fees and
disbursements of the Trustee, any depository, and their respective counsel, (v)
the qualification of the Underwritten Securities under state securities laws in
accordance with the provisions of Section 3(h) hereof, including filing fees of
any necessary filings under state law and the reasonable fees and disbursements
of counsel for the Underwriters in connection therewith and in connection with
the preparation of the Blue Sky Survey, and any supplement thereto, (vi) the
printing and delivery to the Underwriters of copies of each preliminary
prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus,
the U.S. Prospectus, the Canadian Prospectus, and any amendments or supplements
thereto, (vii) the fees charged by nationally recognized statistical rating
organizations for the rating of the Underwritten Securities, (viii) the
reasonable travel and other expenses relating to the marketing of the
Underwritten Securities, including road shows in respect thereof, and
(ix)&nbsp;the filing fees incident to, and the reasonable fees and
disbursements of U.S. counsel to the Underwriters in connection with, the
review, if any, by the National Association of Securities Dealers, Inc. (the &#147;NASD&#148;)
of the terms of the sale of the Underwritten Securities.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160; <i>Termination
of Agreement.</i>&#160;&#160; If the
applicable Terms Agreement is terminated by the Representative in accordance
with the provisions of Section 5(m) or Section 9(a)(i) hereof, the</font></h2>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">17</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='17',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company shall reimburse the
Underwriters for all of their reasonable out-of-pocket expenses, including the
reasonable fees and disbursements of U.S. counsel for the Underwriters.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conditions of Underwriters&#146;
Obligations</u>.&#160;&#160; The obligations of the
several Underwriters to purchase and pay for the Underwritten Securities
pursuant to the applicable Terms Agreement are subject to the accuracy of the
representations and warranties of the Company contained in Section 1(a) hereof
or in certificates of any officer of the Company or any of its subsidiaries
delivered pursuant to the provisions hereof, to the performance by the Company
of its covenants and other obligations hereunder, and to the following further
conditions:</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <i>Filing of
Canadian Prospectus and Effectiveness of Registration Statement.</i>&#160; The Canadian Basic Prospectus and any
amendments or supplements thereto shall have been filed with the Reviewing
Authority and a final decision document obtained therefor and the Registration
Statement shall have become effective under the 1933 Act; and at the Closing
Time, no stop order suspending the effectiveness of the Registration Statement
shall have been issued under the 1933 Act and no proceedings for that purpose
shall have been instituted or shall be pending or, to the knowledge of the
Underwriters or the knowledge of the Company, shall be contemplated by the
Commission, no order having the effect of ceasing or suspending the distribution
of the Underwritten Securities shall have been issued by any securities
commission or securities regulatory authority in Canada or the United States
and no proceedings for that purpose shall have been instituted or pending or,
to the knowledge of the Company, shall be contemplated by any securities
commission or securities regulatory authority in Canada or the United States,
and any request on the part of the Reviewing Authority or the Commission for
additional information shall have been complied with.&#160; The U.S. Prospectus and the Canadian
Prospectus containing information relating to the description of the
Underwritten Securities, the specific method of distribution and similar
matters shall have been filed with the Reviewing Authority or the Commission,
as applicable.&#160; The final term sheet
contemplated by Section 3(c) hereof, and any other material required to be
filed by the Company pursuant to Rule 433(d) under the Securities Act shall
have been filed with the Commission within the applicable time period
prescribed for such filing by Rule 433.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160; <i>Opinion of
Canadian Counsel for Company</i>.&#160;&#160;
At the Closing Time, the Representative shall have received the
favorable opinion, dated as of the Closing Time, of Blake, Cassels &amp;
Graydon LLP, Canadian counsel for the Company, in form and substance reasonably
satisfactory to counsel for the Underwriters, together with signed or
reproduced copies of such letter for each of the other Underwriters, to the
effect set forth in Exhibit B hereto and to such further effect as counsel to
the Underwriters may reasonably request.&#160;
Such counsel may also state that, insofar as such opinion involves
factual matters, they have relied, to the extent they deem proper, upon
certificates of officers of the Company and its subsidiaries and certificates
of public officials.&#160; In giving such
opinion such counsel may rely, as to all matters governed by the laws of
jurisdictions other than the laws of the province of Alberta and the federal
laws of Canada applicable therein, upon the opinions of counsel reasonably
satisfactory to the Representative.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160; <i>Opinion of
United States Counsel for Company</i>.&#160;&#160;
At the Closing Time, the Representative shall have received the
favorable opinion, dated as of the Closing Time, of</font></h2>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">18</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='18',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shearman &amp; Sterling LLP,
United States counsel for the Company, in form and substance reasonably
satisfactory to counsel for the Underwriters, together with signed or
reproduced copies of such letter for each of the other Underwriters, to the
effect set forth in Exhibit C hereto and to such further effect as counsel to
the Underwriters may reasonably request.&#160;
Such counsel may also state that, insofar as such opinion involves
factual matters, they have relied, to the extent they deem proper, upon
certificates of officers of the Company and its subsidiaries and certificates
of public officials.&#160; In giving such
opinion such counsel may rely, as to all matters governed by the laws of
jurisdictions other than the laws of the State of New York and the federal laws
of the United States applicable therein, upon the opinions of counsel
reasonably satisfactory to the Representative.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160; <i>Opinion of
Canadian Counsel for Underwriters.</i>&#160;&#160;
At the Closing Time, the Representative shall have received the
favorable opinion, dated as of the Closing Time, of Burnet, Duckworth &amp;
Palmer LLP, Canadian counsel for the Underwriters, together with signed or
reproduced copies of such letter for each of the other Underwriters, with
respect to such matters as the Representative may reasonably request.&#160; In giving such opinion, such counsel may
rely, as to all matters governed by the laws of jurisdictions other than the
law of the province of Alberta and the federal laws of Canada applicable
therein, upon the opinions of counsel reasonably satisfactory to the Representative.&#160; Such counsel may also state that, insofar as
such opinion involves factual matters, they have relied, to the extent they
deem proper, upon certificates of officers of the Company and its subsidiaries
and certificates of public officials.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160; <i>Opinion of
United States Counsel for Underwriters.</i>&#160;&#160; At the Closing Time, the Representative
shall have received the favorable opinion, dated as of the Closing Time, of
Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP, United States counsel for the
Underwriters, together with signed or reproduced copies of such letter for each
of the other Underwriters, with respect to such matters as the Representative
may reasonably request.&#160; In giving such
opinion, such counsel may rely, as to all matters governed by the laws of
jurisdictions other than the law of the State of New York, the federal law of
the United States and the General Corporation Law of the State of Delaware,
upon the opinions of counsel reasonably satisfactory to the Representative.&#160; Such counsel may also state that, insofar as
such opinion involves factual matters, they have relied, to the extent they
deem proper, upon certificates of officers of the Company and its subsidiaries
and certificates of public officials.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160; <i>Officers&#146;
Certificate.</i>&#160; At the Closing
Time, there shall not have been, since the Applicable Time or since the
respective dates as of which information is given in the Pricing Disclosure
Package, the U.S. Prospectus and the Canadian Prospectus, any material adverse
change in the condition, financial or otherwise, or in the earnings, business
affairs or business prospects of the Company and its subsidiaries considered as
one enterprise, whether or not arising in the ordinary course of business, and
the Representative shall have received a certificate of the President or a Vice
President of the Company and of the chief financial officer or treasurer of the
Company, dated as of the Closing Time, to the effect that (i) there has been no
such material adverse change, (ii) the representations and warranties in
Section 1(a) hereof are true and correct with the same force and effect as
though expressly made at and as of the Closing Time, (iii) the Company has
complied with all agreements and satisfied all conditions on its part to be
performed or satisfied at or prior to the Closing Time, (iv) no stop order
suspending the effectiveness of the Registration Statement has been issued and
no proceedings for that purpose</font></h2>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">19</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='19',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">are pending or, to the
knowledge of the Company, are contemplated by the Commission, and (v) no order
has been issued by the Reviewing Authority which has the effect of ceasing or
suspending the distribution of the Underwritten Securities or, to the knowledge
of the Company, threatening any proceedings for any such purpose.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160; <i>Accountant&#146;s
Comfort Letter.</i>&#160;&#160; At the time
of the execution of the applicable Terms Agreement, the Representative shall
have received from PricewaterhouseCoopers LLP a letter, dated such date, in
form and substance reasonably satisfactory to the Representative, together with
signed or reproduced copies of such letter for each of the other Underwriters
containing statements and information of the type ordinarily included in
accountants&#146; &#147;comfort letters&#148; to underwriters with respect to the financial
statements and certain financial information contained or incorporated by
reference in the Registration Statement, the Pricing Disclosure Package, the
U.S. Prospectus and the Canadian Prospectus.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160; <i>Bring-down
Comfort Letter.</i>&#160;&#160; At the
Closing Time, the Representative shall have received from
PricewaterhouseCoopers LLP a letter, dated as of the Closing Time, to the
effect that they reaffirm the statements made in the letter furnished pursuant
to subsection&nbsp;(g) of this Section 5, except that the specified date
referred to shall be the date of the applicable Terms Agreement.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160; <i>Ratings.</i>&#160;&#160; At the Closing Time, the Underwritten
Securities shall have the ratings accorded by any &#147;nationally recognized
statistical rating organization,&#148; as defined by the Commission for purposes of
Rule 436(g)(2) of the 1933 Act Regulations, or any &#147;approved rating
organization,&#148; as that term is defined in NI 44-101, if and as specified in the
applicable Terms Agreement, and the Company shall have delivered to the
Representative a letter, dated as of a date no earlier than three business days
prior to the Closing Date, from each such rating organization, or other
evidence satisfactory to the Representative, confirming that the Underwritten
Securities have such ratings; provided, however, that in the event that any
such letter is dated as of a date other than the Closing Date, such ratings
shall be confirmed, orally or in writing, by each such rating organization on
the Closing Date.&#160; Since the Applicable
Time, there shall not have occurred a downgrading in, or withdrawal of, the
rating assigned to the Underwritten Securities or any of the Company&#146;s other
securities by any such rating organization, and no such rating organization
shall have publicly announced that it has under surveillance or review its rating
of the Underwritten Securities or any of the Company&#146;s other securities.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160; <i>No
Objection.</i>&#160;&#160; If the
Registration Statement or an offering of Underwritten Securities has been filed
with the NASD for review, the NASD shall not have raised any objection with
respect to the fairness and reasonableness of the underwriting terms and
arrangements.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160; <i>Collateral
Documents.</i>&#160;&#160; The Trustee, the
Company and each subsidiary which is a party thereto shall have entered into
the Collateral Documents, if any, and the Representative shall have received
counterparts, conformed as executed, thereof.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160; <i>Additional
Documents.</i>&#160;&#160; At the Closing
Time, counsel for the Underwriters shall have been furnished with such
documents and opinions as they may reasonably require for the purpose of
enabling them to pass upon the issuance and sale of the Underwritten Securities
as herein</font></h2>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">20</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='20',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the
fulfillment of any of the conditions, herein contained; and all proceedings
taken by the Company in connection with the issuance and sale of the
Underwritten Securities as herein contemplated shall be satisfactory in form
and substance to the Representative and counsel for the Underwriters, acting
reasonably.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160; <i>Termination
of Terms Agreement.</i>&#160;&#160; If any
condition specified in this Section 5 shall not have been fulfilled when and as
required to be fulfilled, the applicable Terms Agreement may be terminated by
the Representative by written notice to the Company at any time at or prior to
the Closing Time, and such termination shall be without liability of any party
to any other party except as provided in Section 4 hereof and except that
Sections 1, 6, 7, 8, 11 and 13 hereof shall survive any such termination and
remain in full force and effect.</font></h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification</u>.</font></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Indemnification of
Underwriters</i>.&#160; (1) The Company
agrees to indemnify and hold harmless each Underwriter and each person, if any,
who controls any Underwriter within the meaning of Section 15 of the 1933 Act
or Section 20 of the 1934 Act as follows:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; against any and all loss, liability, claim, damage and
expense whatsoever, as incurred, arising out of any untrue statement or alleged
untrue statement of a material fact contained in the Registration Statement (or
any amendment thereto), or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements
therein not misleading or arising out of any untrue statement or alleged untrue
statement of a material fact contained in any preliminary prospectus, the U.S.
Basic Prospectus, the U.S. Pricing Prospectus, any Issuer Free Writing
Prospectus, the U.S. Prospectus, the Canadian Basic Prospectus or the Canadian
Prospectus (or any amendment or supplement thereto) or any &#147;issuer information&#148;
filed or required to be to be filed pursuant to Rule 433(d) under the 1933 Act,
or the omission or alleged omission therefrom of a material fact necessary in
order to make the statements therein, in the light of the circumstances under
which they were made, not misleading;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; against any and all loss, liability, claim, damage and
expense whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission; provided that (subject to Section 6(d)
below) any such settlement is effected with the written consent of the Company;
and</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; against any and all expense whatsoever, as incurred
(including the fees and disbursements of counsel chosen by the Representative,
except to the extent otherwise expressly provided in Section 6(c)), reasonably
incurred in investigating, preparing or defending against any litigation, or
any investigation or proceeding by any governmental agency or body, commenced
or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that
any such expense is not paid under (i) or (ii) above;</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">21</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='21',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">provided</font></u>,
<u>however</u>, that this indemnity agreement shall not apply to any loss,
liability, claim, damage or expense whatsoever to the extent arising out of any
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with written information furnished to the
Company by any Underwriter through the Representative expressly for use in the
Registration Statement (or any amendment thereto), or any preliminary
prospectus or the U.S. Basic Prospectus, the U.S. Pricing Prospectus, any
Issuer Free Writing Prospectus, the U.S. Prospectus, the Canadian Basic
Prospectus or the Canadian Prospectus (or any amendment or supplement thereto).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Indemnification of
Company, Directors and Officers</i>.&#160;
Each Underwriter severally and not jointly agrees to indemnify and hold
harmless the Company, its directors, each of its officers who signed the
Registration Statement, and each person, if any, who controls the Company
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
against any and all loss, liability, claim, damage and expense whatsoever
described in the indemnity contained in subsection (a) of this Section 6, as
incurred, but only with respect to untrue statements or omissions, or alleged
untrue statements or omissions, made in the Registration Statement (or any
amendment thereto), or any preliminary prospectus, the U.S. Basic Prospectus,
the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus, the U.S.
Prospectus, the Canadian Basic Prospectus or the Canadian Prospectus (or any
amendment or supplement thereto) in reliance upon and in conformity with
written information furnished to the Company by such Underwriter through the
Representative expressly for use in the Registration Statement (or any
amendment thereto) or such preliminary prospectus, the U.S. Basic Prospectus,
the U.S. Pricing Prospectus, any Issuer Free Writing Prospectus, the U.S.
Prospectus, the Canadian Basic Prospectus or the Canadian Prospectus (or any
amendment or supplement thereto).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Actions against
Parties; Notification</i>.&#160; Each
indemnified party shall give notice as promptly as reasonably practicable to
each indemnifying party of any action commenced against it in respect of which
indemnity may be sought hereunder, but failure to so notify an indemnifying
party shall not relieve such indemnifying party from any liability hereunder to
the extent it is not materially prejudiced as a result thereof and in any event
shall not relieve it from any liability which it may have otherwise than on
account of this indemnity agreement.&#160; In
the case of parties indemnified pursuant to Section 6(a) above, counsel to the
indemnified parties shall be selected by the Representative and, in the case of
parties indemnified pursuant to Section 6(b) above, counsel to the indemnified
parties shall be selected by the Company.&#160;
An indemnifying party may participate at its own expense in the defense
of any such action; provided, however, that counsel to the indemnifying party
shall not (except with the consent of the indemnified party) also be counsel to
the indemnified party.&#160; If it so elects
within a reasonable time after receipt of such notice, an indemnifying party,
jointly with any other indemnifying parties receiving such notice, may assume
the defense of such action with counsel chosen by it and approved by the
indemnified parties defendant (including any impleaded parties) in such action,
which approval shall not be unreasonably withheld, provided that, if such
indemnified party or parties reasonably determine that there may be legal
defenses available to them which are different from or in addition to those
available to such indemnifying party or parties, then such indemnifying party
or parties shall not be entitled to assume such defense.&#160; If the indemnifying party or parties are not
entitled to assume the defense of such action as a result of the proviso to the
preceding sentence, counsel for the indemnifying party or parties shall be
entitled to conduct the defense of such indemnifying party or parties and
counsel for the indemnified party or parties shall be</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">22</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='22',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">entitled to conduct the defense of such indemnified party or
parties.&#160; If an indemnifying party
assumes the defense of such action, the indemnifying parties shall not be
liable for any fees and expenses of counsel for the indemnified parties
incurred thereafter in connection with such action.&#160; In no event shall the indemnifying parties be
liable for fees and expenses of more than one counsel (in addition to any local
counsel) separate from their own counsel for all indemnified parties in
connection with any one action or separate but similar or related actions in
the same jurisdiction arising out of the same general allegations or
circumstances.&#160; No indemnifying party
shall, without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 6 or Section
7 hereof (whether or not the indemnified parties are actual or potential
parties thereto), unless such settlement, compromise or consent (i) includes an
unconditional release of each indemnified party from all liability arising out
of such litigation, investigation, proceeding or claim and (ii) does not
include a statement as to or an admission of fault, culpability or a failure to
act by or on behalf of any indemnified party.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Settlement without
Consent if Failure to Reimburse</i>.&#160;
If at any time an indemnified party shall have requested an indemnifying
party to reimburse the indemnified party for fees and expenses of counsel, such
indemnifying party agrees that it shall be liable for any settlement of the
nature contemplated by Section 6(a)(ii) effected without its written consent if
(i) such settlement is entered into more than 45 days after receipt by such
indemnifying party of the aforesaid request, (ii) such indemnifying party shall
have received notice of the terms of such settlement at least 30 days prior to
such settlement being entered into and (iii) such indemnifying party shall not
have reimbursed such indemnified party in accordance with such request prior to
the date of such settlement.&#160;
Notwithstanding the immediately preceding sentence, if at any time an
indemnified party shall have requested an indemnifying party to reimburse the
indemnified party for fees and expenses of counsel, an indemnifying party shall
not be liable for any settlement of the nature contemplated by Section 6(a)(ii)
effected without its consent if such indemnifying party (i) reimburses such
indemnified party in accordance with such request to the extent it considers
such request to be reasonable and (ii) provides written notice to the
indemnified party substantiating the unpaid balance as unreasonable, in each
case prior to the date of such settlement.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Contribution</u>.&#160;&#160; If the indemnification provided for in
Section&nbsp;6 hereof is for any reason unavailable to or insufficient to hold
harmless an indemnified party in respect of any losses, liabilities, claims,
damages or expenses referred to therein, then each indemnifying party shall
contribute to the aggregate amount of such losses, liabilities, claims, damages
and expenses incurred by such indemnified party, as incurred, (i) in such
proportion as is appropriate to reflect the relative benefits received by the
Company, on the one hand, and the Underwriters, on the other hand, from the
offering of the Underwritten Securities pursuant to the applicable Terms
Agreement or (ii) if the allocation provided by clause (i) is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault
of the Company, on the one hand, and the Underwriters, on the other hand, in
connection with the statements or omissions which resulted</font></h1>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">23</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='23',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in such losses, liabilities, claims, damages or
expenses, as well as any other relevant equitable considerations.</font></h1>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
relative benefits received by the Company, on the one hand, and the
Underwriters, on the other hand, in connection with the offering of the
Underwritten Securities pursuant to the applicable Terms Agreement shall be
deemed to be in the same respective proportions as the total net proceeds from the
offering of such Underwritten Securities (before deducting expenses) received
by the Company and the total underwriting discount received by the
Underwriters, in each case as set forth on the cover of the U.S. Prospectus,
bear to the aggregate initial public offering price of such Underwritten
Securities as set forth on such cover.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
relative fault of the Company, on the one hand, and the Underwriters, on the
other hand, shall be determined by reference to, among other things, whether
any such untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact relates to information supplied by
the Company or by the Underwriters and the parties&#146; relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Company and the Underwriters agree that it would not be just and equitable if
contribution pursuant to this Section 7 were determined by pro rata allocation
(even if the Underwriters were treated as one entity for such purpose) or by
any other method of allocation which does not take account of the equitable
considerations referred to above in this Section 7.&#160; The aggregate amount of losses, liabilities,
claims, damages and expenses incurred by an indemnified party and referred to
above in this Section 7 shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in investigating, preparing or
defending against any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any such untrue or alleged untrue statement or omission or alleged
omission.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding
the provisions of this Section 7, no Underwriter shall be required to
contribute any amount in excess of the amount by which the total price at which
the Underwritten Securities underwritten by it and distributed to the public
were offered to the public exceeds the amount of any damages which such
Underwriter has otherwise been required to pay by reason of any such untrue or
alleged untrue statement or omission or alleged omission.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 1933 Act) shall be entitled to contribution or indemnity from any
person who was not guilty of such fraudulent misrepresentation.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
purposes of this Section 7, each person, if any, who controls an Underwriter
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
shall have the same rights to contribution as such Underwriter, and each
director of the Company, each officer of the Company who signed the
Registration Statement, and each person, if any, who controls the Company
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
shall have the same rights to contribution as the Company.&#160; The Underwriters&#146; respective obligations to
contribute pursuant to this Section 7 are several in proportion to the
aggregate principal</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">24</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='24',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">amount of
Underwritten Securities set forth opposite their respective names in the
applicable Terms Agreement, and not joint.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations, Warranties and
Agreements to Survive Delivery</u>.&#160;&#160; All
representations, warranties and agreements contained in these Underwriting
Agreement Standard Provisions or the applicable Terms Agreement or in
certificates of officers of the Company or any of its subsidiaries submitted
pursuant hereto or thereto shall remain operative and in full force and effect,
as of their date, regardless of any investigation made by or on behalf of any
Underwriter or controlling person, or by or on behalf of the Company, and shall
survive delivery of and payment for the Underwritten Securities.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination</u>.</font></h1>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160; <i>Terms
Agreement.</i>&#160;&#160;&#160; The
Representative may terminate the applicable Terms Agreement, by notice to the
Company, at any time at or prior to the Closing Time if (i) there has been,
since the Applicable Time or since the respective dates as of which information
is given in the Pricing Disclosure Package, the U.S. Prospectus and the
Canadian Prospectus (exclusive of any supplement thereto)<b>,</b> any material adverse change in the
condition, financial or otherwise, or in the earnings, business affairs or
business prospects of the Company and its subsidiaries considered as one
enterprise, whether or not arising in the ordinary course of business, or (ii)
there has occurred any material adverse change in the financial markets in the
United States or, if the Underwritten Securities include Debt Securities
denominated or payable in, or indexed to, one or more foreign or composite
currencies, in the international financial markets, or any outbreak of
hostilities or escalation thereof or other calamity or crisis or any change or
development involving a prospective change in national or international
political, financial or economic conditions, in each case the effect, either
singly or together with any other such event, is such as to make it, in the
judgment of the Representative impracticable or inadvisable to market the Underwritten
Securities or to enforce contracts for the sale of the Underwritten Securities,
or (iii) trading in any securities of the Company has been suspended or
materially limited by the Commission, the Reviewing Authority, the New York
Stock Exchange or The Toronto Stock Exchange, or if trading generally on the
New York Stock Exchange, The Toronto Stock Exchange or in the Nasdaq National
Market has been suspended or materially limited, or minimum or maximum prices
for trading have been fixed, or maximum ranges for prices have been required,
by either of said exchanges or by such system or by order of the Commission,
the NASD or any other governmental authority, or a material disruption has
occurred in commercial banking or securities settlement or clearance services
in the United States, or (iv) a banking moratorium has been declared by either
United States federal or New York authorities or, if the Underwritten
Securities include Debt Securities denominated or payable in, or indexed to,
one or more foreign or composite currencies, by the relevant authorities in the
related foreign country or countries.</font></h2>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160; <i>Liabilities.</i>&#160;&#160; If the applicable Terms Agreement is
terminated pursuant to this Section 9, such termination shall be without
liability of any party to any other party except as provided in Section 4
hereof, and provided further that Sections 1, 6, 7, 8, 11 and 12 hereof shall
survive such termination and remain in full force and effect.</font></h2>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">25</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='25',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Default by One or More of the
Underwriters</u>.&#160;&#160; If one or more of the
Underwriters shall fail at the Closing Time to purchase the Underwritten
Securities which it or they are obligated to purchase under the applicable
Terms Agreement (the &#147;Defaulted Securities&#148;), then the Representative shall
have the right, within 24 hours thereafter, to make arrangements for one or
more of the non-defaulting Underwriters, or any other underwriters, to purchase
all, but not less than all, of the Defaulted Securities in such amounts as may
be agreed upon and upon the terms herein set forth; if, however, the
Representative shall not have completed such arrangements within such 24-hour
period, then:</font></h1>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="2" style="font-size:10.0pt;">&#160;
if the aggregate principal amount of Defaulted Securities does not
exceed 10% of the aggregate principal amount of Underwritten Securities to be
purchased on such date pursuant to such Terms Agreement, each of the
non-defaulting Underwriters shall be obligated, severally and not jointly, to
purchase the full amount thereof in the proportions that their respective
underwriting obligations under such Terms Agreement bear to the underwriting
obligations of all non-defaulting Underwriters, or</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="2" style="font-size:10.0pt;">&#160;
if the aggregate principal amount of Defaulted Securities exceeds 10% of
the aggregate principal amount of Underwritten Securities to be purchased on
such date pursuant to such Terms Agreement, such Terms Agreement shall
terminate without liability on the part of any non-defaulting Underwriter.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No
action taken pursuant to this Section 10 shall relieve any defaulting
Underwriter from liability in respect of its default.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the
event of any such default which does not result in a termination of the
applicable Terms Agreement, the Representative and the Company shall each have
the right to postpone the Closing Time for a period not exceeding seven days in
order to effect any required changes in the Registration Statement, the Pricing
Disclosure Package, the U.S. Prospectus, the Canadian Prospectus or in any
other documents or arrangements.&#160; As used
herein, the term &#147;Underwriter&#148; includes any person substituted for an
Underwriter under this Section 10.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Agent for Service; Submission to
Jurisdiction; Waiver of Immunities; Waiver of Jury Trial</u>.</font></h1>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By
the execution and delivery of any Terms Agreement, the Company
(i)&nbsp;acknowledges that it has, by separate written instrument, irrevocably
designated and appointed CT Corporation System (or any successor) (together
with any successor, the &#147;Agent for Service&#148;), as its authorized agent upon
which process may be served in any suit or proceeding arising out of or
relating to such Terms Agreement, the Underwritten Securities, or the
Indenture, if applicable, that may be instituted in any United States federal
or New York State court in the Borough of Manhattan in the City of New York, or
brought under United States federal or state securities laws, and acknowledges
that the Agent for Service has accepted such designation, (ii)&nbsp;submits to
the non-exclusive jurisdiction of any such court in any such suit or
proceeding, and (iii)&nbsp;agrees that service of process upon the Agent for
Service (or any successor) and written notice of said service to the Company
(mailed or delivered to its Corporate Secretary at its principal office in
Calgary, Alberta, Canada), shall be deemed in every respect effective service
of process upon the Company in any such suit or proceeding.&#160; The Company further</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">26</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='26',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">agrees to take any and all action, including the execution and filing
of any and all such documents and instruments, as may be necessary to continue
such designation and appointment of the Agent for Service in full force and
effect so long as any of the Underwritten Securities shall be outstanding.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the extent that the Company has or hereafter may
acquire any immunity from jurisdiction of any court or from any legal process
(whether through service of notice, attachment prior to judgment, attachment in
aid of execution, execution or otherwise) with respect to itself or its
property, it hereby irrevocably waives such immunity in respect of its
obligations under the above-referenced documents, to the extent permitted by
law.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the fullest extent permitted by applicable law, each of the Underwriters and
the Company irrevocably waives all right to trial by jury in any action,
proceeding or counterclaim (whether based upon contract, tort or otherwise)
relating to or arising out of these Underwriting Agreement Standard Provisions
and any applicable Terms Agreement.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;   <u>No Fiduciary Duty</u>.&#160; The Company acknowledges and agrees that the
Underwriters are acting solely in the capacity of an arm&#146;s length contractual
counterparty to the Company with respect to the offering of the Underwritten
Securities contemplated hereby (including in connection with determining the
terms of the offering) and not as a financial advisor or a fiduciary to, or an
agent of, the Company or any other person.&#160;
Additionally, neither the Representative nor any other Underwriter is
advising the Company or any other person as to any legal, tax, investment,
accounting or regulatory matters in any jurisdiction.&#160; The Company shall consult with its own
advisors concerning such matters and shall be responsible for making its own
independent investigation and appraisal of the transactions contemplated
hereby, and the Underwriters shall have no responsibility or liability to the
Company with respect thereto.&#160; Any review
by the Underwriters of the Company, the transactions contemplated hereby or
other matters relating to such transactions will be performed solely for the
benefit of the Underwriters and shall not be on behalf of the Company.&#160; The Company agrees that it will not claim
that the Underwriters, or any of them, has rendered advisory services of any
nature or respect, or owes a fiduciary duty to the Company, in connection with
such transaction or the process leading thereto.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Judgment Currency</u>.&#160; The Company agrees to indemnify the
Underwriters against any loss incurred by such Underwriters as a result of any
judgment or order being given or made for any amount due hereunder and such
judgment or order being expressed and paid in a currency (the &#147;Judgment
Currency&#148;) other than United States dollars and as a result of any variation as
between (i) the rate of exchange at which the United States dollar amount is
converted into the Judgment Currency for the purpose of such judgment or order,
and (ii) the rate of exchange at which the Underwriters are able to purchase
United States dollars with the amount of the Judgment Currency actually
received by the Underwriters; provided, however, that if, as a result of such
variation, the United States dollars so purchased are greater than the sum
originally due to such Underwriter hereunder, such Underwriter agrees to pay to
the Company an amount equal to the excess of the dollars so purchased over the
sum originally due to such Underwriter hereunder (such obligation shall
constitute a separate and independent</font></h1>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">27</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='27',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->
<br clear="all" style="page-break-before:always;">



<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligation of each Underwriter and shall continue in
full force and effect notwithstanding any such judgment or order as
aforesaid).&#160; The foregoing indemnity
shall constitute a separate and independent obligation of the Company and shall
continue in full force and effect notwithstanding any such judgment or order as
aforesaid.&#160; The term &#147;rate of exchange&#148;
shall include any premiums and costs of exchange payable in connection with the
purchase of, or conversion into, the relevant currency.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notices</u>.&#160; Notices to the Underwriters shall be directed
to the Representative as set forth in the applicable Terms Agreement; and
notices to the Company shall be directed to it at P.O. Box 38, 112&nbsp;&#151; 4th
Avenue S.W., Calgary, Alberta, Canada T2P 2V5 (or by facsimile at (403)
269-6218), Attention: Chief Financial Officer.&#160;
Any notice given under any Terms Agreement shall be in writing and,
unless delivered personally to a responsible officer of the addressee, will be
given by telecopy or electronic mail, and shall be deemed to be given at the
time telecopied, electronic mailed or delivered to the recipient on a business
day (in Calgary and New York) and before 5:00 P.M. (Calgary time) on such
business day, and otherwise will be deemed to be given at 9:00 A.M. (Calgary
time) on the next following business day (in Calgary and New York).&#160; Any party may change its address for notice
by notice to the other parties hereto given in the manner herein provided.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Parties</u>.&#160;&#160; The applicable Terms Agreement shall inure
to the benefit of and be binding upon the Company and, upon execution of such
Terms Agreement, the Underwriters and their respective successors.&#160; Nothing expressed or mentioned in these
Underwriting Agreement Standard Provisions or such Terms Agreement is intended
or shall be construed to give any person, firm or corporation, other than the
Underwriters and the Company and their respective successors and the controlling
persons and officers and directors referred to in Sections 6 and 7 and their
heirs and legal representatives, any legal or equitable right, remedy or claim
under or in respect of such Terms Agreement or any provision herein or therein
contained.&#160; Any applicable Terms
Agreement and all conditions and provisions thereof, including these
Underwriting Agreement Standard Provisions, are intended to be for the sole and
exclusive benefit of the parties hereto and thereto and their respective
successors, and said controlling persons and officers and directors and their
heirs and legal representatives, and for the benefit of no other person, firm
or corporation.&#160; No purchaser of
Underwritten Securities from any Underwriter shall be deemed to be a successor
by reason merely of such purchase.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>GOVERNING LAW AND TIME</u>.&#160;&#160; THESE UNDERWRITING AGREEMENT STANDARD
PROVISIONS AND ANY APPLICABLE TERMS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.&#160; UNLESS OTHERWISE STATED IN THE APPLICABLE
TERMS AGREEMENT, SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.</font></h1>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effect of Headings</u>.&#160;&#160; The Article and Section headings herein and
the Table of Contents are for convenience only and shall not affect the
construction hereof.</font></h1>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">28</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='28',FILE='C:\Fc\17711942914_P66503CHE_2214424\17271-2-mm-05.htm',USER='jmsproofassembler',CD='Jun 26 11:09 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT A</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a Canadian corporation)</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Name of Security]</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF TERMS AGREEMENT</font></u></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To:</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Suncor
Energy Inc.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P.O. Box 38<br>
112 - 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Avenue S.W.<br>
Calgary, Alberta&#160; T2P 2V5<br>
CANADA</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and
Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We, the Underwriters
listed below (the &#147;Underwriters&#148;), for whom &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
is acting as representative (the &#147;Representative&#148;) understand that Suncor
Energy Inc., a Canadian corporation (the &#147;Company&#148;), proposes to issue and sell
[US$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; aggregate principal amount
of its [&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ] (the &#147;Debt
Securities&#148;)] (such securities also being hereinafter referred to as the &#147;Underwritten
Securities&#148;).&#160; Subject to the terms and
conditions set forth or incorporated by reference herein, the Underwriters
offer to purchase, severally and not jointly, the respective aggregate
principal amount of Underwritten Securities set forth opposite their names
below at the respective purchase prices set forth below.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-</font><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='A-1',FILE='C:\Fc\177115756988_P66503CHE_2214424\17271-2-mm-07.htm',USER='jmsproofassembler',CD='Jun 26 11:58 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;font-family:Times New Roman;">
 <tr style="page-break-inside:avoid;">
  <td width="318" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><!-- SET mrlHTMLTableLeft --></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="122" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Principal&nbsp;Amount</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="318" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Underwriter</font></b></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="122" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">of&nbsp;Underwritten&nbsp;Securities</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="318" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="318" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp; </font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="318" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="318" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.7pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="16" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="122" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">US$</font></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company agrees to
make an intercompany loan represented by a demand note (the &#147;Mirror Note&#148;) of
US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to Suncor Energy Oil Sands Inc., a corporation organized under the laws of Alberta
and a wholly-owned subsidiary of the Company (&#147;Suncor Oil Sands&#148;).&#160; The Company further agrees to cause Suncor
Oil Sands to make an intercompany loan represented by a demand note (the &#147;Partnership
Note&#148;) of US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to Suncor Energy Oil Sands Limited Partnership, a limited partnership
established under the laws of Alberta and directly and indirectly wholly-owned
by the Company.&#160; The Company agrees to
ensure that Suncor Oil Sands will enter into an assignment agreement, and such
other documentation listed in Annex II hereto, in order to assign the
Partnership Note to and in favor of the Trustee for and on behalf of each of
the holders of the Underwritten Securities (the &#147;Partnership Note Assignment&#148;).&#160; The documents entered into in connection with
the foregoing, and any documentation related thereto, are listed in Annex II
hereto and are collectively referred to as the &#147;Collateral Documents.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Underwritten
Securities shall have the following terms:</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[<u>Debt Securities]</u></font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current ratings:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate
principal amount to be issued:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denominations:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Currency of
payment:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest rate or
formula:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest payment
dates:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regular record
dates:</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-</font><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='A-2',FILE='C:\Fc\177115756988_P66503CHE_2214424\17271-2-mm-07.htm',USER='jmsproofassembler',CD='Jun 26 11:58 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stated maturity
date:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption
provisions:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sinking fund
requirements:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conversion
provisions:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Listing requirements:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Black-out
provisions:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fixed or Variable
Price Offering: [Fixed] [Variable] Price Offering</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If Fixed Price Offering,
initial public offering price per security:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
of the principal amount, plus accrued interest [amortized original issue discount],
if any, from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchase price per security: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
of principal amount, plus accrued interest [amortized original issue discount],
if any, from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form:</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other terms and
conditions:&#160; Each Underwriter agrees that
it will not, directly or indirectly, offer, sell or deliver any Debt Securities
purchased by it, in Canada or to residents of Canada in contravention of the
securities laws of any province or territory of Canada.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Closing date and location:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices to the
Underwriters shall be directed to the Representative as set forth below:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint book-running
managers:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All of the provisions
contained in the document attached as Annex I hereto entitled &#147;SUNCOR ENERGY
INC.&#151;Debt Securities&#151;Underwriting Agreement Standard Provisions&#148; (the &#147;Standard
Provisions&#148;) are hereby incorporated by reference in their entirety herein and
shall be deemed to be a part of this Terms Agreement to the same extent as if
such provisions had been set forth in full herein.&#160; Terms defined in such document are used
herein as therein defined.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-</font><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='A-3',FILE='C:\Fc\177115756988_P66503CHE_2214424\17271-2-mm-07.htm',USER='jmsproofassembler',CD='Jun 26 11:58 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please accept this offer
no later than &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o&#146;clock P.M. (New York City
time) on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; by signing a copy of this Terms
Agreement in the space set forth below and returning the signed copy to us.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Very truly yours,</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[REPRESENTATIVE]</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:23.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="23%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acting on behalf of itself and the other named
  Underwriters.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted:</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:23.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="27" style="border:none;"></td>
  <td width="179" style="border:none;"></td>
  <td width="168" style="border:none;"></td>
  <td width="28" style="border:none;"></td>
  <td width="173" style="border:none;"></td>
  <td width="173" style="border:none;"></td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-</font><font face="Times New Roman">4</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='A-4',FILE='C:\Fc\177115756988_P66503CHE_2214424\17271-2-mm-07.htm',USER='jmsproofassembler',CD='Jun 26 11:58 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT B</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OPINION OF COMPANY&#146;S CANADIAN COUNSEL<br>
TO BE DELIVERED PURSUANT TO<br>
SECTION 5(b)</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->(i)</p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation has been duly incorporated and is
  validly existing as a corporation under the laws of Canada.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation has all requisite corporate power
  and authority to own, lease and operate its properties and to conduct its
  business as described in the Pricing Disclosure Package, the U.S. Prospectus
  and the Canadian Prospectus.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation is registered as an extra-provincial
  corporation and is duly qualified or registered and in good standing to carry
  on business in each jurisdiction in which such qualification or registration
  is required, whether by reason of the ownership or leasing of property or the
  conduct of business, except where the failure to be so registered would not
  result in a Material Adverse Effect.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEPI has been duly formed and is validly existing as
  a corporation in good standing under the laws of the Province of Ontario, has
  all requisite corporate power and authority to own, lease and operate its
  properties and to conduct its business as described in the Pricing Disclosure
  Package, the U.S. Prospectus and the Canadian Prospectus, is registered as an
  extra-provincial corporation and is duly qualified or registered and in good
  standing to carry on business in each jurisdiction in which such
  qualification or registration is required, whether by reason of the ownership
  or leasing of property or the conduct of business, except where the failure
  to be so registered would not result in a Material Adverse Effect and, except
  as otherwise described in the Canadian Prospectus or the U.S. Prospectus, all
  of the issued and outstanding shares of SEPI are owned of record by the
  Corporation, directly or through subsidiaries, and to our knowledge, free and
  clear of any security interest, mortgage, pledge, lien, encumbrance, claim or
  equity. To our knowledge, none of the outstanding shares of SEPI were issued
  in violation of the pre-emptive or similar rights of any securityholder of
  SEPI.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Partnership has been duly formed and is validly
  existing as a partnership in good standing under the laws of the Province of
  Alberta, has partnership power and authority to own, lease and operate its properties
  and to conduct its business as described in the Pricing Disclosure Package,
  the U.S. Prospectus and the Canadian Prospectus and, except as otherwise
  described in the Canadian Prospectus or the U.S. Prospectus, all of the
  issued and outstanding partnership interests of the Partnership are owned of
  record by the Corporation, directly or through subsidiaries, and to our
  knowledge, free and clear of any security interest, mortgage, pledge, lien,
  encumbrance, claim or equity. To our knowledge, none of the outstanding
  partnership interests of the Partnership were issued in violation of the
  pre-emptive or similar rights of any securityholder of the Partnership.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEOSI has been duly incorporated and is validly
  existing as a corporation in good standing under the laws of the Province of
  Alberta, has the corporate power and authority</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-1',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to own, lease and operate
  its properties and to conduct its business as described in the Pricing
  Disclosure Package, the U.S. Prospectus and the Canadian Prospectus and,
  except as otherwise described in the Canadian Prospectus or the U.S.
  Prospectus, all of the issued and outstanding shares of SEOSI are owned of
  record by the Corporation, directly or through subsidiaries, and to our
  knowledge, free and clear of any security interest, mortgage, pledge, lien,
  encumbrance, claim or equity.&nbsp; To our
  knowledge, none of the outstanding shares of SEOSI were issued in violation
  of the pre-emptive or similar rights of any securityholder of SEOSI.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation has all
  requisite corporate power and authority to execute, deliver and perform its
  obligations under the Underwriting Agreement, and the Underwriting Agreement
  has been duly authorized, executed and, to the extent delivery is a matter governed
  by Alberta Law, delivered by the Corporation.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation has all
  requisite corporate power and authority to execute, deliver and perform its
  obligations under the Indenture and the Indenture has been duly authorized,
  executed and, to the extent delivery is a matter governed by Alberta Law,
  delivered by the Corporation.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Partnership
  and SEOSI has all requisite corporate or partnership, as applicable, power
  and authority to execute, deliver and perform its obligations under the
  Collateral Documents to which it is a party, and the Collateral Documents
  have been duly authorized, executed and delivered by each of the Partnership
  and SEOSI.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Collateral
  Documents constitutes a legal, valid and binding instrument enforceable
  against the Partnership and SEOSI, as applicable, in accordance with its
  terms.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation has all
  requisite corporate power and authority to execute and issue the Offered
  Securities and to incur the obligations provided for therein and the Offered
  Securities have been duly authorized by the Corporation and, assuming that
  the Offered Securities have been duly authenticated by the Trustee in the
  manner described in its certificate delivered to you today (which fact we need
  not determine by an inspection of the Securities), the Offered Securities
  have been duly executed, issued and, to the extent delivery is a matter
  governed by Alberta Law, delivered by the Corporation.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Indenture and the
  issuance of the Offered Securities thereunder are subject to and comply with
  the CBCA; except that an exemption order has been obtained under subsection
  82(3) of the CBCA to exempt the Indenture and the Offered Securities from
  Part VIII of the CBCA, including to permit a non-Canadian trust company to
  act as trustee under the Indenture; and no registration, filing or recording
  of the Indenture under the federal laws of Canada is necessary in order to
  preserve or protect the validity or enforceability of the Indenture or the Offered
  Securities issued thereunder.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation is a
  reporting issuer under the <i>Securities Act</i>
  (Alberta) and is not included in a list of defaulting reporting issuers
  maintained by the Reviewing Authority.</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-2',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Corporation is
  eligible to file a short form prospectus with the Reviewing Authority and to
  use the Shelf Procedures in respect of the offering of Offered Securities.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A receipt has been
  obtained from the Reviewing Authority in respect of the Canadian Basic
  Prospectus and no other authorization, approval, permit, consent or license
  of any government, government instrumentality or court of Canada or the
  Province of Alberta is required for the valid authorization, issuance, sale
  and delivery of the Offered Securities in the United States, except as have
  been obtained under the CBCA (as referred to in paragraph (xii)); and no
  other such approvals, permits, consents or licenses are required in
  connection with the authorization, execution and delivery by the Corporation
  of the Underwriting Agreement and the Indenture.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There are no reports or
  other information that would be required to be made publicly available by the
  Reviewing Authority in connection with the offering of the Offered Securities,
  if the Offered Securities were offered in Canada, that have not been made
  publicly available, and there are no documents required to be filed with the
  Reviewing Authority in connection with the Canadian Basic Prospectus or the
  Canadian Prospectus that have not been filed.&nbsp;
  There are no documents required to be filed after the Closing Time in
  connection with the Canadian Basic Prospectus or the Canadian Prospectus that
  have not been undertaken by the Corporation to be filed as required.&nbsp; To our knowledge, there are no contracts,
  documents or other materials of a character required to be described or
  referred to in the Canadian Prospectus that are not described or referred to
  therein.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The descriptions in the
  Pricing Disclosure Package, the U.S. Prospectus and the Canadian Prospectus
  of the Canadian statutes, regulations, governmental franchises and licenses
  and legal or governmental proceedings, in each case of, or with respect to,
  the Corporation, the Partnership and SEPI are accurate and fairly summarize
  the information stated therein.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We confirm our opinions in
  the U.S. Prospectus and the Canadian Prospectus under the headings (i)
  &#147;Certain Income Tax Consequences&#151;Certain Canadian Federal Income Tax
  Considerations&#148; and (ii) &#147;Description of Debt Securities&#151;Enforceability of
  Judgments&#148;.&nbsp; The statements set forth
  in Part II of the Registration Statement under the caption &#147;Indemnification&#148;,
  insofar as such statements constitute summaries of legal matters, legal
  proceedings, laws or regulations (or the interpretation or administration of
  laws or regulations by any relevant government authorities), are accurate and
  fair in all material respects.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To our knowledge, other
  than as described in the Pricing Disclosure Package, the U.S. Prospectus and
  the Canadian Prospectus, or other than as would not, singly or in the
  aggregate, result in a Material Adverse Effect, no default exists in the
  performance or observance of any obligation, agreement, covenant or condition
  contained in any contract, indenture, mortgage, deed of trust, loan or credit
  agreement, note, lease or other agreement or instrument that is described or
  referred to in the Registration Statement, the Pricing Disclosure Package,
  the U.S. Prospectus or the Canadian Prospectus or filed as an exhibit to the
  Registration Statement.</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-3',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)</font><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To our knowledge, other
  than as set forth in the Canadian Prospectus, there is not pending or
  threatened any action, suit, proceeding, inquiry, or investigation, to which
  the Corporation or any subsidiary is a party, or to which the property of the
  Corporation or any subsidiary is subject, before or brought by any court or
  governmental agency or body, domestic or foreign, which might reasonably be
  expected to result in a Material Adverse Effect, or which might reasonably be
  expected to materially and adversely affect the properties or assets of the
  Corporation or its subsidiaries, considered as one enterprise, or the
  consummation of the transactions contemplated in the Underwriting Agreement,
  or the performance by the Corporation of its obligations hereunder.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To our knowledge, no order
  having the effect of ceasing or suspending the distribution of the Offered
  Securities has been issued by the Reviewing Authority and no proceedings for
  that purpose have been instituted or are pending or contemplated.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The execution, delivery
  and performance of the Underwriting Agreement, the Indenture, the Collateral
  Documents and the Offered Securities by the Corporation, the Partnership and
  SEOSI, as applicable, and the consummation by the Corporation, the
  Partnership and SEOSI, as applicable, of the transactions contemplated in the
  Underwriting Agreement, the Indenture, the Collateral Documents and the
  Registration Statement (including the issuance and sale of the Offered
  Securities and the use of proceeds from the sale of the Offered Securities as
  described in the Pricing Disclosure Package, the U.S. Prospectus and the
  Canadian Prospectus under the caption &#147;Use of Proceeds&#148;) and compliance by
  the Corporation, the Partnership and SEOSI, as applicable, with its
  obligations under the Underwriting Agreement, the Indenture, the Offered
  Securities and the Collateral Documents do not and will not result in any
  violation of the articles, memoranda, by-laws, or, to our&nbsp; knowledge, any partnership or joint venture
  agreement, of the Corporation, the Partnership or SEOSI, and do not and will
  not, whether with or without the giving of notice or passage of time or both,
  conflict with or result in a breach of, a default or Repayment Event under or
  result in the creation or imposition of any lien, charge or encumbrance upon
  any properties or assets of the Corporation, the Partnership or SEOSI or any
  of their subsidiaries, considered as one enterprise, under (A) any indenture,
  mortgage, loan agreement or other agreement or instrument that is specified
  in the officer&#146;s certificate attached hereto (except for such conflicts,
  breaches or defaults, Repayment Events or liens, charges or encumbrances that
  would not result in Material Adverse Effect) (except that we do not express
  any opinion with respect to any aspect of the financial condition or results
  of operations of the Corporation, the Partnership or SEOSI or any of their
  subsidiaries to the extent applicable to any such agreement or instrument),
  (B) any existing applicable Canadian federal statute or regulation or statute
  or regulation of the Province of Alberta, which such conflict, breach,
  default, Repayment Event, lien, charge or encumbrance would have a Material
  Adverse Effect, or (C) to our knowledge, any judgment, order or decree of any
  government, governmental, regulatory or administrative agency, authority,
  commission or instrumentality or court having jurisdiction over the Corporation,
  the Partnership or SEOSI or any of their properties or assets.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiii)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A court of competent
  jurisdiction in the Province of Alberta (a &#147;<b>Canadian
  Court</b>&#148;) would give effect to the choice of the law of the State of
  New York (&#147;<b>New York law</b>&#148;) as</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-4',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the proper law governing
  the Indenture, the Underwriting Agreement and the Offered Securities,
  provided that such choice of law is bona fide (in the sense that it was not
  made with a view to avoiding the consequences of the laws of any other
  jurisdiction) and provided that such choice of law is not contrary to public
  policy, as that term is applied by a Canadian Court.&nbsp; In our opinion, there are no reasons under
  the laws of the Province of Alberta (the &#147;<b>Relevant
  Province</b>&#148;) or the federal laws of Canada applicable therein for
  avoiding the choice of New York law to govern the Indenture, the Underwriting
  Agreement and the Offered Securities.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiv)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In an action on a final
  and conclusive judgment in personam for a fixed sum of money of any federal
  or state court in the State of New York (a &#147;<b>New York
  Court</b>&#148;) that is not impeachable as void or voidable under New York
  law, a Canadian Court would not refuse to recognize the jurisdiction of the
  court rendering such judgment on the basis of process being served on CT
  Corporation System as the agent to receive service of process in the United
  States of America appointed by the Corporation under the Indenture and the
  Underwriting Agreement (provided that the Corporation has not purported to
  revoke the appointment, CT Corporation System has not terminated the agency
  or otherwise rendered service on it ineffective).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxv)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Indenture, the
  Offered Securities, or the Underwriting Agreement are sought to be enforced
  in the Relevant Province in accordance with the laws applicable thereto as
  chosen by the parties, namely New York law, a Canadian Court would, subject
  to paragraph (xx) above and to the extent specifically pleaded and proved as
  a fact by expert evidence, recognize the choice of New York law and, upon
  appropriate evidence as to such law being adduced, apply such law to all
  issues that under the conflict of law rules of the Relevant Province are
  determined in accordance with the proper and general law of conflict,
  provided none of the provisions of the Indenture, the Offered Securities, or
  the Underwriting Agreement, or of New York law, are contrary to public policy
  as that term is applied by a Canadian Court; provided, however, that, in
  matters of procedure, the laws of such Relevant Province will be applied as
  well as the <i>Limitations Act</i> (Alberta), and
  a Canadian Court will retain discretion to decline to hear such action if it
  is contrary to public policy, as that term is applied by a Canadian Court,
  for it to do so, or if it is not the proper forum to hear such an action, or
  if the concurrent proceedings are being brought elsewhere.&nbsp; In our opinion, there are no reasons under
  the laws of the Relevant Province or the laws of Canada applicable therein
  and no reasons, to our knowledge with respect to the application of New York
  law by a Canadian Court, for avoiding enforcement of the Indenture, the
  Underwriting Agreement or the Offered Securities, based on public policy, as
  that term is applied by a Canadian Court.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The laws of the Relevant
  Province and the federal laws of Canada applicable therein permit an action
  to be brought in a Canadian Court on a final and conclusive judgment in
  personam for a fixed sum of money of a New York Court that is subsisting,
  unsatisfied and not subject to any right of appeal or application to set it
  aside respecting the enforcement of the Indenture, the Underwriting Agreement
  or the Offered Securities that is not impeachable as void or voidable under
  New York law for a sum certain if:&nbsp; (i)
  such judgment was not obtained by fraud or in a manner contrary to natural
  justice and the enforcement thereof would not be inconsistent with public
  policy, as such term is applied</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-5',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">by a Canadian Court, or
  contrary to any order made by the Attorney General of Canada under the <i>Foreign Extraterritorial Measures Act</i> (Canada) or by the
  Competition Tribunal under the <i>Competition Act</i>
  (Canada); (ii) the enforcement of such judgment does not constitute, directly
  or indirectly, the enforcement of foreign revenue, expropriatory or penal
  laws or other laws of a public nature; (iii) the action to enforce such
  judgment is commenced within applicable limitation periods, except that under
  the <i>Currency Act</i> (Canada), a Canadian
  Court may only give judgment in Canadian dollars; (iv) a court rendering such
  judgment had jurisdiction over the judgment debtor as recognized by the
  courts of Relevant Province (in our opinion, submission under the provisions
  of the Indenture, the Underwriting Agreement and the Offered Securities to
  the jurisdiction of a New York Court will be sufficient for this purpose) and
  the judgment debtor was properly served in the action leading to such
  judgment; and (v) no new admissible evidence relevant to the action is
  discovered prior to rendering of judgment by the court in the Relevant
  Province or the federal laws of Canada applicable therein for avoiding
  recognition of judgments of a New York Court under the Indenture, the
  Underwriting Agreement or the Offered Securities based on public policy, as
  that term is applied by a Canadian Court.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvii)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Canadian Prospectus in
  connection with the offering of the Offered Securities (excluding the
  financial statements and other financial data included or incorporated
  therein or omitted therefrom and the information and data with respect to the
  Corporation&#146;s oil and gas reserves included or incorporated in the
  Registration Statement, the Pricing Disclosure Package, the U.S. Prospectus
  and the Canadian Prospectus from the opinion, reports and analysis of GLJ
  Petroleum Consultants Ltd., independent petroleum consultants in reliance on
  the authority of such firms as &#147;experts&#148; within the meaning of the 1933 Act,
  as to which we express no opinion) appears on its face to have been
  appropriately responsive in all material respects to the requirements of the
  Applicable Canadian Securities Laws as interpreted and applied by the
  Reviewing Authority.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxviii)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No withholding tax imposed
  under the federal laws of Canada or the laws of the Province of Alberta will
  be payable in respect of the issuance and sale to an Underwriter that deals
  at arm&#146;s length with the Corporation and is not resident in Canada, but
  resident in the United States or if a partnership, all the members of which
  deal at arm&#146;s length with the Corporation and are not resident in Canada but
  resident in the United States, in each case, for purposes of the Income Tax
  Act (Canada) (a &#147;<b>U.S. Underwriter</b>&#148;)
  of the Offered Securities as contemplated by the Underwriting Agreement,
  including the payment or crediting of any discount, commission or fee as
  contemplated by the Underwriting Agreement, provided that any such discount,
  commission or fee is payable in respect of services rendered by such U.S.
  Underwriter outside of Canada that are performed by such U.S. Underwriter in
  the ordinary course of business carried on by it that includes the
  performance of such services for a fee and any such amount is reasonable in
  the circumstances, or the realization of any interest or deemed interest on the
  resale of Offered Securities by a U.S. Underwriter to United States
  residents.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxix)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No goods and services tax
  imposed under the federal laws of Canada or the laws of the Province of
  Alberta will be collectible by a U.S. Underwriter in respect of the issuance</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-6',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and sale to a U.S.
  Underwriter of the Offered Securities as contemplated by the Underwriting
  Agreement, including the payment or crediting of any discount, commission or
  fee as contemplated by the Underwriting Agreement to any U.S. Underwriter, or
  the resale of the Offered Securities by a U.S. Underwriter to United States
  residents, provided that any such discount, commission or fee is payable in
  respect of services performed by such U.S. Underwriter wholly outside of
  Canada.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxx)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No stamp duty,
  registration or documentary taxes, duties or similar charges are payable
  under the federal laws of Canada or the laws of the Province of Alberta in
  connection with the creation, issuance, sale and delivery to the U.S. Underwriters
  of the Offered Securities or the authorization, execution, delivery and
  performance of the Underwriting Agreement, or the Indenture or the resale of
  Offered Securities by a U.S. Underwriter to United States residents.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxi)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Collateral Documents
  create, in favour of the Trustee, valid security interests in the collateral
  therein described to which the PPSA applies.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxii)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Collateral Documents
  (or a notice with respect thereto) have been filed, registered or recorded in
  all public offices where the filing, registration or recording thereof is
  necessary as at June &#149;, 2007 under the laws of Alberta to create,
  preserve, perfect and protect any mortgages, assignments, pledges, charges or
  security interests (in respect of personal property) expressed to be
  constituted thereby. The details of all registrations, filings and
  recordings, are set out in Schedule &#147;A&#148; to our opinion.&nbsp; Since our office does not diarize renewal
  dates, you should diarize the renewal dates in order to ensure that all
  renewals are made when necessary.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiii)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No consent, approval,
  authorization, permit, order, registration or qualification of or with any
  governmental authority is required for consummation by the Corporation of the
  transactions contemplated by the Collateral Documents, except for the filing
  of a financing statement at the Alberta Personal Property Registry.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiv)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Collateral
  Documents that purports to create a lien, charge or security interest creates
  under the laws of Alberta, to and in favour of the Trustee, a valid security
  interest in the present right, title and interest of the Corporation in the
  collateral expressed to be mortgaged, pledged and charged thereunder to
  directly or indirectly secure payment and performance of the obligations of
  the Company under the Indenture.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxv)</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Collateral
  Documents that purports to create a lien, charge of security interest (or a
  notice with respect thereto) has been filed, registered or recorded in all
  public offices where the filing, registration or recording thereof is
  necessary under the laws of Alberta to create, preserve, perfect and protect
  any mortgages, assignments, pledges, charges or security interests (in
  respect of personal property only) expressed to be constituted thereby, as
  described in Schedule &#147;A&#148; to the opinion.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, such counsel shall state:</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On the basis of such
participation and relying upon and subject to the foregoing, no facts came to
our attention that have caused us to believe that (i) at its effective date and
as of the date</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-7',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the Canadian Prospectus Supplement, the
Registration Statement (other than the Form T-1 of the Trustee, as to which we
do not comment) contained or contains an untrue statement of a material fact or
omitted to state a material fact that is required to be stated therein or
omitted to state a material fact that is necessary to be stated in order for a
statement therein not to be misleading within the meaning of the <i>Securities Act</i> (Alberta), (ii) the Disclosure Package, as of
the Applicable Time, contained or contains an untrue statement of a material
fact or omitted to state a material fact that is required to be stated therein
or omitted to state a material fact that is necessary to be stated in order for
a statement therein not to be misleading within the meaning of the <i>Securities Act</i> (Alberta) or (iii) as of its date and as of
the date of this letter, the Canadian Prospectus Supplement contained or
contains an untrue statement of a material fact or omitted to state a material
fact that is required to be stated therein or omitted to state a material fact
that is necessary to be stated in order for a statement therein not to be
misleading within the meaning of the <i>Securities Act</i>
(Alberta) (it being understood that we do not comment on the financial
statements and schedules, and other financial data derived therefrom, or on the
information and data with respect to the Corporation&#146;s crude oil and natural
gas reserves derived from the reports of GLJ Petroleum Consultants, included or
incorporated by reference in or omitted from any of the above referenced
documents).</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-</font><font face="Times New Roman">8</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='B-8',FILE='C:\Fc\177124153555_P66503CHE_2214424\17271-2-mm-09.htm',USER='jmsproofassembler',CD='Jun 26 12:41 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT C</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OPINION OF COMPANY&#146;S U.S. COUNSEL</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TO BE DELIVERED PURSUANT TO</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 5(c)</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Agreement has been duly executed and delivered by the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Indenture has been duly executed and delivered by the Company and is the legal,
valid and binding obligation of the Company, enforceable against the Company in
accordance with its terms.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Indenture has been duly qualified under the Trust Indenture Act of 1939, as
amended (the &#147;<u>Trust Indenture Act</u>&#148;).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Notes have been duly executed by the Company and, when authenticated by the
Trustee in accordance with the Indenture and delivered and paid for as provided
in the Agreement, the Notes will be the legal, valid and binding obligations of
the Company, enforceable against the Company in accordance with their terms and
entitled to the benefits of the Indenture.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company is not, and after giving pro forma effect to the offering and sale of
the Notes as contemplated in the Prospectus, would not be, required to register
as an investment company under the Investment Company Act of 1940, as amended
(the &#147;<u>Investment Company Act</u>&#148;).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
execution and delivery by the Company of each Opinion Document to which it is a
party do not, and the performance by the Company of its obligations thereunder
and the consummation of the transactions contemplated thereby will not, result
in a violation of Generally Applicable Law, or any order, writ, judgment,
injunction, decree, determination or award listed in schedule B.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
authorization, approval or other action by, and no notice to or filing with,
any United States federal or New York governmental authority or regulatory body
is required for the due execution, delivery or performance by the Company of
any Opinion Document to which it is a party, except as have been obtained and
are in full force and effect under the Securities Act or the Trust Indenture
Act or as may be required under the securities or blue sky laws of any
jurisdiction in the United States in connection with the offer and sale of the
Notes.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
statements in the Disclosure Package and the Prospectus under the captions &#147;Description
of Debt Securities&#148; and &#147;Description of the Notes&#148;, in each case, insofar as
such statements constitute summaries of documents referred to therein, fairly summarize
in all material respects the documents referred to therein.&#160; The statements in the Disclosure Package and
the Prospectus under the caption &#147;Certain Income Tax Consequences&#151;Certain U.S.
Federal Income Tax Considerations&#148;, insofar as such statements constitute
summaries of legal matters referred to therein, fairly summarize in all
material respects the legal matters referred to therein.</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C-</font><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='C-1',FILE='C:\Fc\177111912671_P66503CHE_2214424\17271-2-mm-11.htm',USER='jmsproofassembler',CD='Jun 26 11:19 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
submission by the Company to the nonexclusive jurisdiction of the courts of the
United States or the State of New York in the Borough of Manhattan, the City of
New York, State of New York pursuant to Section 11 of the Standard Provisions
and Section 113 of the Indenture is effective.&#160;
The Company has validly appointed CT Corporation System as its
authorized agent for service of process under the Agreement and the
Indenture.&#160; We note that a court of the
State of New York or the United States of America sitting in the Borough of
Manhattan, the City of New York, State of New York has the power to decline to
hear an action based on the Agreement and the Indenture on the ground that the
State of New York is an inconvenient forum.</p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, such counsel
shall state:</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to the
limitations set forth in the immediately preceding paragraph, we advise you
that, on the basis of the information we gained in the course of performing the
services referred to above, in our opinion, each of the Registration Statement
and the Prospectus (other than the financial statements and other financial
data contained therein or omitted therefrom, the Statement of Eligibility and
Qualification on Form T-1 and the information derived from the reports of GLJ
Petroleum Consultants Ltd. included or incorporated by reference in the
Registration Statement and Prospectus upon their authority as experts, as to
which we express no opinion) and the Form F-X appear on their face to be
appropriately responsive in all material respects to the requirements of the
Securities Act and the applicable rules and regulations of the Commission
thereunder.&#160; With regard to this
paragraph, we have assumed the compliance of the Prospectus, including the
documents incorporated by reference therein, with the requirements of the
securities laws, rules and regulations of the Province of Alberta as
interpreted and applied by the Alberta Securities Commission (the &#147;<u>Reviewing
Authority</u>&#148;).&#160; In addition, we have
assumed that there are no documents, reports or other information in accordance
with the requirements of the Reviewing Authority that must be made publicly
available in connection with the offering of the Notes and that, other than the
form of Agreement, there were no publicly available documents filed with the
Reviewing Authority concurrently with the Prospectus.&#160; We understand that such matters are covered
in the opinion of Blake, Cassels &amp; Graydon LLP, Canadian counsel for the
Company, furnished to you today in accordance with the provisions of the
Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We further advise you
that, subject to the limitations set forth in the second preceding paragraph,
on the basis of the information we gained in the course of performing the
services referred to above, no facts came to our attention which caused us to
believe that (i) the Registration Statement (other than the financial
statements and other financial data contained therein or omitted therefrom, the
Statement of Eligibility and Qualification on Form T-1 and the information
derived from the reports of GLJ Petroleum Consultants Ltd. included or
incorporated by reference in the Registration Statement upon their authority as
experts, as to which we have not been requested to comment), at the time it
became effective or as of the date of the Prospectus Supplement, contained an
untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading, (ii) the Disclosure Package (other than the financial statements
and other financial data contained therein or omitted therefrom and the
information derived from the reports of GLJ Petroleum Consultants Ltd. included
or incorporated by reference in the Disclosure Package upon their authority as
experts, as to which we have not been requested to comment), at the</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C-</font><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='C-2',FILE='C:\Fc\177111912671_P66503CHE_2214424\17271-2-mm-11.htm',USER='jmsproofassembler',CD='Jun 26 11:19 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Applicable Time, contained an untrue statement of a
material fact or omitted to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were
made, not misleading, or (iii) the Prospectus (other than the financial
statements and other financial data contained therein or omitted therefrom and
the information derived from the reports of GLJ Petroleum Consultants Ltd.
included or incorporated by reference in the Prospectus upon their authority as
experts, as to which we have not been requested to comment), as of its date or
the date hereof, contained or contains an untrue statement of a material fact
or omitted or omits to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C-</font><font face="Times New Roman">3</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='C-3',FILE='C:\Fc\177111912671_P66503CHE_2214424\17271-2-mm-11.htm',USER='jmsproofassembler',CD='Jun 26 11:19 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-indent:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE
I</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Materials other than the U.S. Pricing Prospectus that
comprise the Pricing Disclosure Package:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I-</font><font face="Times New Roman">1</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='I-1',FILE='C:\Fc\177111942547_P66503CHE_2214424\17271-2-mm-13.htm',USER='jmsproofassembler',CD='Jun 26 11:19 2007' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">


<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-indent:0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE
II</font></b></p>

<p align="center" style="margin:0pt 0pt 24.0pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Final Term Sheet</font></u></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Issuer:</p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Size:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
  20&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon: </font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Price:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of
  face amount</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yield to maturity:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Spread to Benchmark Treasury: </font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury Price and Yield:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Payment Dates:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
  commencing &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
  2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption Provisions:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Make-whole call</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At any time at a discount rate of Treasury plus &nbsp;&nbsp;&nbsp;&nbsp;basis
  points</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt 18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlement:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">T+&nbsp;&nbsp;; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
  200</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ratings:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The issuer has filed a
registration statement (including a prospectus) with the SEC for the offering
to which this communication relates.&#160;
Before you invest, you should read the prospectus in that registration
statement and other documents the issuer has filed with the SEC for more
complete information about the issuer and this offering.&#160; You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov.&#160; Alternatively, the issuer, any underwriter or
any dealer participating in the offering will arrange to send you the
prospectus if you request it by calling [Representative] at </font></b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>.</b></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-</font><font face="Times New Roman">1</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='II-1',FILE='C:\Fc\177112220259_P66503CHE_2214424\17271-2-mm-15.htm',USER='jmsproofassembler',CD='Jun 26 11:22 2007' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ANNEX II</font></p>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mirror
Note of Suncor Energy Oil Sands Inc. in favor of Suncor Energy Inc.</h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mirror
Note of Suncor Energy Oil Sands Limited Partnership in favor of Suncor Energy
Oil Sands Inc.</h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mirror
Note Assignment between Suncor Energy Oil Sands Inc. and The Bank of New York,
as Trustee</h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:auto;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Suncor
Energy Oil Sands Limited Partnership Consent and Acknowledgement</h3>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\Fc\177112256889_P66503CHE_2214424\17271-2-mm-17.htm',USER='jmsproofassembler',CD='Jun 26 11:22 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
