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<SEC-DOCUMENT>0001104659-07-070252.txt : 20070920
<SEC-HEADER>0001104659-07-070252.hdr.sgml : 20070920
<ACCEPTANCE-DATETIME>20070920141109
ACCESSION NUMBER:		0001104659-07-070252
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070919
FILED AS OF DATE:		20070920
DATE AS OF CHANGE:		20070920

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:		071126719

	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>a07-24272_16k.htm
<DESCRIPTION>6-K
<TEXT>
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<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="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>For the month of: September 2007</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><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-size:10.0pt;font-weight:bold;margin:0pt 0pt 12.0pt;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<br> </font></b><font style="font-weight:normal;">(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>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="right" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:right;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form 20-F&nbsp;&nbsp;</font><font face="Wingdings">o</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><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>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <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="margin:0pt 0pt 12.0pt;"><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>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="right" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:right;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yes&nbsp;&nbsp;</font><font face="Wingdings">o</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No&nbsp;&nbsp;</font><font face="Wingdings">x</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:20.0%;">
  <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="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">

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<div>


<p style="margin:0pt 0pt 12.0pt;"><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" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:7.0%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->Exhibit</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <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="90%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:90.62%;">
  <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="7%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:7.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:90.62%;">
  <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:7.0%;">
  <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="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="90%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:90.62%;">
  <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 September 19, 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>


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

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<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:65.0pt;"><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;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.38%;">
  <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>
  <td width="14%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:14.84%;">
  <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="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <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="38%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.38%;">
  <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="14%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:14.84%;">
  <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="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <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="38%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.38%;">
  <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="14%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:14.84%;">
  <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="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&nbsp;&nbsp;September 19, 2007</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="33%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:33.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Bart W. Demosky</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:14.84%;">
  <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="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bart W. Demosky</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Treasurer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="350" style="border:none;"></td>
  <td width="35" style="border:none;"></td>
  <td width="50" style="border:none;"></td>
  <td width="202" style="border:none;"></td>
  <td width="111" 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:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a07-24272_1ex99d1.htm
<DESCRIPTION>TERMS AGREEMENT AND UNDERWRITING AGREEMENT DATED SEPTEMBER 19, 2007
<TEXT>
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<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;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2007</font></p>

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 <tr style="page-break-inside:avoid;">
  <td width="48" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.0pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->To:</p>
  </td>
  <td width="585" valign="top" style="padding:0pt .7pt 0pt 0pt;width:439.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suncor Energy Inc.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="585" valign="top" style="padding:0pt .7pt 0pt 0pt;width:439.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P.O. Box 38</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="585" valign="top" style="padding:0pt .7pt 0pt 0pt;width:439.0pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">112 - 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Avenue S.W.</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="585" valign="top" style="padding:0pt .7pt 0pt 0pt;width:439.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Calgary, Alberta T2P 2V5</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="585" valign="top" style="padding:0pt .7pt 0pt 0pt;width:439.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CANADA</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;"><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. and Citigroup Global Markets Inc. are acting as representatives (the &#147;Representatives&#148;),
understand that Suncor Energy Inc., a Canadian corporation (the &#147;Company&#148;),
proposes to issue and sell US$400,000,000 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; The issuance of the Underwritten Securities
by the Company will constitute a further issuance of the US$750,000,000
aggregate principal amount of the 6.500% Senior Unsecured Notes due 2038 which
were originally issued on June 28, 2007 (the &#147;June Notes&#148;).&#160; The Underwritten Securities will form a
single series with the June Notes and have the same CUSIP number as and trade
interchangeably with the June Notes.&#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>


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

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<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="363" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><!-- SET mrlHTMLTableLeft --></p>
  </td>
  <td width="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="363" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="363" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <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="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">120,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">80,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">38,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">24,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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 Inc.</font></p>
  </td>
  <td width="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">24,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">18,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">18,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">18,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">18,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">8,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">8,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">8,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">6,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">6,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <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="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <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="19" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="74" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <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;">6,000,000</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="363" valign="top" style="padding:0pt .7pt 0pt 0pt;width:272.4pt;">
  <p style="margin:0pt 0pt .0001pt 70.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="25" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:19.1pt;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:14.5pt;">
  <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="29" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:21.6pt;">
  <p align="left" style="margin:0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="74" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:55.25pt;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">400,000,000</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>
</table>

<p style="margin:12.0pt 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$400,000,000 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$400,000,000 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 amended and restated 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$400,000,000</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="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:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<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 30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If Fixed Price
Offering, initial public offering price per security: 100.296% of the principal
amount, plus accrued interest from and including June 28, 2007 to but excluding
the closing date</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accrued interest
to Company:&#160; US$6,211,111.11; 6.500%
accrued from and including June 28, 2007 to but excluding September 24, 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; 100.296% of principal amount,
plus accrued interest from and including June 28, 2007 to but excluding the
closing date</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; September 24, 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 Representatives 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="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global
Markets Inc.<br>
388 Greenwich Street<br>
New York, NY 10013<br>
Attention: General Counsel<br>
Tel: (877) 858-5407<br>
Fax: (212) 816-7912</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="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<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 September 19, 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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="33%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:33.9%;">
  <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="33%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.92%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.08%;">
  <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%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="63%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:63.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert Bottamedi</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.08%;">
  <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%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="63%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:63.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:67.82%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:67.82%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CITIGROUP GLOBAL MARKETS INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:67.82%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:67.82%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="33%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:33.9%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;/s/ Brian D. Bednarski</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.92%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.08%;">
  <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%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="63%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:63.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brian D. Bednarski</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.08%;">
  <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%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="63%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:63.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.08%;">
  <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%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="63%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:63.02%;">
  <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="29%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:29.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="70%" colspan="5" valign="top" style="padding:0pt .7pt 0pt 0pt;width:70.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each acting on behalf of itself and the other named
  Underwriters.</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="218" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="36" style="border:none;"></td>
  <td width="218" style="border:none;"></td>
  <td width="254" 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;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted:</font></p>

<p style="margin:0pt 0pt 24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</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="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.1%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->By:</p>
  </td>
  <td width="35%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:35.06%;">
  <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="35%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:35.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:24.38%;">
  <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="7%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.14%;">
  <p style="margin:0pt 0pt .0001pt 8.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="92%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bart W. Demosky</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="7%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:7.14%;">
  <p style="margin:0pt 0pt .0001pt 8.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="92%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:92.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Treasurer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="23" style="border:none;"></td>
  <td width="30" style="border:none;"></td>
  <td width="232" style="border:none;"></td>
  <td width="262" style="border:none;"></td>
  <td width="18" style="border:none;"></td>
  <td width="182" 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:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<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 .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the Underwriters</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;">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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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 Representatives (as defined in the
applicable Terms Agreement (as defined below)) and the several Underwriters
listed in the applicable Terms Agreement entered into between the
Representatives 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 Representatives acting as co-managers 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>


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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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 below) shall be referred to herein as the &#147;U.S.
Pricing Prospectus.&#148;&#160; The U.S. Basic </font></p>


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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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;text-justify:inter-ideograph;"><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 3:56 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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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>


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

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><i>Representations and Warranties by the Company.</i>&#160; The Company represents and warrants to the
Representatives 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:</h2>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiv)</font><font size="1" style="font-size:8.5pt;">&#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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxv)</font><font size="1" style="font-size:8.5pt;">&#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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvi)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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 Representatives
have notified the Company of the earliest time that an offering participant
made a bona fide offer of the Underwritten Securities.</p>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><i>Officers&#146; Certificates.</i>&#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.</h2>

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

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><i>Underwritten Securities.</i>&#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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><i>Payment.</i>&#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 </h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">place as shall be agreed upon
by the Representatives 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 Representatives 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;text-justify:inter-ideograph;"><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 Representatives 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 Representatives, 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 Representatives, individually and not as representatives 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-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><i>Denominations; Registration.</i>&#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 Representatives 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 Representatives 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.</h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Covenants
of the Company</u>.&#160; The Company
covenants with the Representatives 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><i><font size="1" style="font-size:8.5pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>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
Representatives, 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>


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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><i><font size="1" style="font-size:8.5pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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
Representatives 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.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Free Writing
Prospectuses</i>.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:108.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>(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
Representatives, 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 Representatives, 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 required to be filed; and (iii) any such free writing
prospectus the use of which has been consented to by the Company and the
Representatives (including the final term sheet prepared and filed pursuant to Section
3(c)</p>


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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">hereof) is listed on
Schedule I hereto.&#160; Any such free writing
prospectus consented to by the Representatives, 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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:108.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>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.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><i><font size="1" style="font-size:8.5pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Delivery of Filed
Documents</i>.&#160; The Company has furnished
or will deliver to the Representatives 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><i><font size="1" style="font-size:8.5pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></i><i><font size="2" style="font-size:10.0pt;font-style:italic;">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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><i><font size="1" style="font-size:8.5pt;font-style:italic;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>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</p>


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<div>


<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">promptly prepare and file
with the Commission and with the Reviewing Authority, subject to 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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
Representatives 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
Representatives 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 Representatives may reasonably request.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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 Representatives,
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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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 </p>


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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">required by the 1933 Act,
the 1934 Act, and the rules and regulations of the Commission 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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></i><i><font size="2" style="font-size:10.0pt;font-style:italic;">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:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment
of Expenses</u>.</font></h1>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Termination of Agreement.</i>&#160;&#160; If the applicable Terms Agreement is
terminated by the Representatives in accordance with the provisions of Section
5(m) or Section 9(a)(i) hereof, the </h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-justify:inter-ideograph;"><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:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Opinion of Canadian Counsel for Company</i>.&#160;&#160; At the Closing Time, the Representatives
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 Representatives.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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 </h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-justify:inter-ideograph;"><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 Representatives.</font></h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Opinion of United States Counsel for Underwriters.</i>&#160;&#160; At the Closing Time, the Representatives
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 Representatives
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
Representatives.&#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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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
Representatives 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 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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Accountant&#146;s Comfort Letter.</i>&#160;&#160; At the time of the execution of the
applicable Terms Agreement, the Representatives shall have received from
PricewaterhouseCoopers LLP a letter, dated such date, in form and substance
reasonably satisfactory to the Representatives, 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 </h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Bring-down Comfort Letter.</i>&#160;&#160; At the Closing Time, the Representatives
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;(f) of this Section 5, except that
the specified date referred to shall be the date of the applicable Terms
Agreement.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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 Representatives 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
Representatives, 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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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 Representatives shall have received counterparts, conformed as
executed, thereof.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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 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 Representatives and counsel for the Underwriters, acting
reasonably.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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 Representatives 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 </h2>


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<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</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; </font>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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</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; </font>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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</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; </font>against
any and all expense whatsoever, as incurred (including the fees and
disbursements of counsel chosen by the Representatives, 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-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><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 Representatives 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>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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
Representatives 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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 Representatives 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 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 </p>


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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#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>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:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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 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;text-justify:inter-ideograph;"><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>


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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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 amount of Underwritten Securities set forth opposite their
respective names in the applicable Terms Agreement, and not joint.</font></p>


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<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>.</font></h1>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Terms Agreement.</i>&#160; The Representatives 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 Representatives 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.</h2>

<h2 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i>Liabilities.</i>&#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.</h2>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Default
by One or More of the Underwriters</u>.&#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
Representatives shall have the right, within 24 hours thereafter, to make </font></h1>


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

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</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; </font>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 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.</p>


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<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</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; </font>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.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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
Representatives 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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 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>


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<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;text-indent:36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>.&#160; Notices to the Underwriters shall be directed
to the Representatives 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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Parties</u>.&#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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect
of Headings</u>.&#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="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</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;&#160;&#160; </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;&#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>
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<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;
</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="44" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.0pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->To:</p>
  </td>
  <td width="629" valign="top" style="padding:0pt .7pt 0pt 0pt;width:471.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suncor Energy Inc.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="629" valign="top" style="padding:0pt .7pt 0pt 0pt;width:471.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P.O. Box 38</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="629" valign="top" style="padding:0pt .7pt 0pt 0pt;width:471.7pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">112 - 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Avenue S.W.</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="629" valign="top" style="padding:0pt .7pt 0pt 0pt;width:471.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Calgary, Alberta T2P 2V5</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="44" valign="top" style="padding:0pt .7pt 0pt 0pt;width:33.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="629" valign="top" style="padding:0pt .7pt 0pt 0pt;width:471.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CANADA</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;"><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;
and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
are acting as representatives (the &#147;Representatives&#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">

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<p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></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:238.9pt;">
  <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="2" 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:238.9pt;">
  <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="2" 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 bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:238.9pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;&nbsp; </font></b></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;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <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>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.9pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></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;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <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>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.9pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></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;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:91.35pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <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>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.9pt;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></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;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="122" colspan="2" 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;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.7pt;">
  <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>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="319" valign="top" style="padding:0pt .7pt 0pt 0pt;width:238.9pt;">
  <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="61" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:45.65pt;">
  <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="61" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:45.7pt;">
  <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>
  <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="61" style="border:none;"></td>
  <td width="61" 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$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to Suncor Energy Oil Sands Inc., a corporation organized under the laws of
Alberta and a wholly-owned subsidiary of the Company (&#147;Suncor Oil Sands&#148;).&#160; The Company further agrees to cause Suncor
Oil Sands to make an intercompany loan represented by a demand note (the &#147;Partnership
Note&#148;) of US$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 amended and restated 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">

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<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="font-family:Times New Roman;font-size:12.0pt;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:</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size="2" style="font-size:10.0pt;"> % 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;&#160; .</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;.</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 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices to the
Underwriters shall be directed to the Representatives 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;">Joint book-running
managers:</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">

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<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;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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><!-- SET mrlHTMLTableLeft --></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Very truly yours,</p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[REPRESENTATIVE]</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <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:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="15%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:15.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.24%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.7%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[REPRESENTATIVE]</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <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:3.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="15%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:15.7%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.24%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.7%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="56%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:56.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each acting on behalf of itself and the other named
  Underwriters.</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.3%;">
  <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="257" style="border:none;"></td>
  <td width="22" style="border:none;"></td>
  <td width="117" style="border:none;"></td>
  <td width="211" style="border:none;"></td>
  <td width="70" style="border:none;"></td>
  <td width="69" 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;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted:</font></p>

<p style="margin:0pt 0pt 24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUNCOR ENERGY INC.</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="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.56%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->By:</p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:23.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="64%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:64.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.56%;">
  <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="91%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:91.06%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.56%;">
  <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="91%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:91.06%;">
  <p style="margin:0pt 0pt .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.56%;">
  <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: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">

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<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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


 <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">

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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


 <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">

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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.&#160;
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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font><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;.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


 <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">

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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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&#160;
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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


 <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">

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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxiv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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:&#160; (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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxvii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxviii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxix)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;text-justify:inter-ideograph;"><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxx)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxi)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><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>

<p style="font-size:10.5pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font><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 September [</font><font face="Symbol">&#183;</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">], 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.&#160; 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>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiii)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><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, the
Partnership or SEOSI, as applicable, of the transactions contemplated by the
Collateral Documents, except for the filing of a financing statement at the
Alberta Personal Property Registry.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxiv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><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, the
Partnership or SEOSI, as applicable, in the collateral expressed to be
mortgaged, pledged and charged thereunder to directly or indirectly secure payment
and performance of the obligations of the Corporation under the Indenture.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;text-justify:inter-ideograph;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxxv)</font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font><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 (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>

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


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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;text-justify:inter-ideograph;"><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 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>


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<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 12.0pt;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<br>
TO BE DELIVERED PURSUANT TO<br>
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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;text-indent:-36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><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:avoid;text-indent:36.0pt;text-justify:inter-ideograph;"><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;text-justify:inter-ideograph;"><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">

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<p style="margin:0pt 0pt 12.0pt;text-justify:inter-ideograph;"><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>
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<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="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I-1</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<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 12.0pt;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;">&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;">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;">&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;">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;&nbsp;&nbsp;&nbsp;,
  20__</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;">&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;">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;%</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;">&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;">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;% 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;">&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;">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;%</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;">&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;">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;%</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;">&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;">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: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;">&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;">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;%</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;">&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;">Accrued interest to Company:</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">US$[</font><font face="Symbol">&#183;</font>];
  6.500% accrued from and including June 28, 2007 to but excluding [<font face="Symbol">&#183;</font>],
  2007</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;">&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;">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; and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
  commencing &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2007</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;">&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;">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:10.0pt;">Make-whole</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;">&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;">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;&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;"><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;,
  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;">&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;">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;">&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;">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="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note: A securities rating is
not a recommendation to buy, sell or hold securities and may be subject to
revision or withdrawal at any time.</font></p>

<p style="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 [Representatives at &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].</font></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>
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<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:avoid;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:avoid;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:avoid;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>Amended
and Restated 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:avoid;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>

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