Interim Unaudited Financial Statements of Suncor Energy Inc. for the six months ended June 30, 2009


		Three months ended June 30				Six months ended June 30
		2009		2008		2009		2008
($ millions)				(restated) (note 2)				(restated) (note 2)

Revenues (note 3)		5 058		7 959		9 872		13 947

Expenses
	Purchases of crude oil and products	1 186		1 940		2 034		3 198
	Operating, selling and general (note 7)	1 290		886		2 445		1 859
	Energy trading activities (note 3)	2 272		3 264		4 469		5 116
	Transportation and other costs	72		61		140		112
	Depreciation, depletion and amortization	311		252		613		500
	Accretion of asset retirement obligations	29		16		58		32
	Exploration	32		31		39		43
	Royalties (note 10)	131		181		162		503
	Taxes other than income taxes	200		167		387		317
	Loss (gain) on disposal of assets	5		(20	)	22		(18	)
	Project start-up costs	10		14		26		21
	Financing expenses (income) (note 5)	(268	)	6		(69	)	85

		5 270		6 798		10 326		11 768

Earnings (Loss) Before Income Taxes		(212	)	1 161		(454	)	2 179

Provisions for (Recovery of) Income Taxes
	Current	114		58		204		214
	Future	(275	)	274		(418	)	428

		(161	)	332		(214	)	642

Net Earnings (Loss)		(51	)	829		(240	)	1 537

	Other comprehensive loss (note 12)	(96	)	(60	)	(62	)	(13	)

Comprehensive Income (Loss)		(147	)	769		(302	)	1 524

Net Earnings (Loss) Per Common Share (dollars), (note 6)
	Basic	(0.06	)	0.89		(0.26	)	1.66

	Diluted	(0.06	)	0.87		(0.26	)	1.62

Cash dividends		0.05		0.05		0.10		0.10

Suncor Energy Inc.
018 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

June 30
2009

December 31
2008

($ millions)

(restated)
(note 2)

Assets

Current assets

Cash and cash equivalents

485

660

Accounts receivable (note 3)

1 693

1 580

Inventories

1 290

909

Income taxes receivable

200

Future income taxes

238

Total current assets

3 906

3 237

Property, plant and equipment, net (note 2)

29 874

28 882

Other assets (notes 2 and 3)

234

409

Total assets

34 014

32 528

Liabilities and Shareholders' Equity

Current liabilities

Short-term debt

Current portion of long-term debt

Accounts payable and accrued liabilities (note 3)

3 559

3 229

Taxes other than income taxes

Income taxes payable

Future income taxes

111

Total current liabilities

3 678

3 538

Long-term debt (note 11)

9 508

7 866

Accrued liabilities and other (notes 3 and 8)

2 134

1 986

Future income taxes

4 490

4 615

Shareholders' equity (see below)

14 204

14 523

Total liabilities and shareholders' equity

34 014

32 528

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 019


		Three months ended June 30				Six months ended June 30
($ millions)		2009		2008		2009		2008

Operating Activities
Cash flow from operations		(342	)	1 405		137		2 566
Decrease (increase) in operating working capital
	Accounts receivable	(130	)	(27	)	(111	)	(458	)
	Inventories	(154	)	(450	)	(381	)	(592	)
	Accounts payable and accrued liabilities	842		295		1 025		682
	Taxes payable/receivable	(64	)	(63	)	(241	)	(184	)

Cash flow from operating activities		152		1 160		429		2 014

Cash Used in Investing Activities		(908	)	(1 778	)	(2 424	)	(3 188	)

Net Cash Deficiency Before Financing Activities		(756	)	(618	)	(1 995	)	(1 174	)

Financing Activities
Increase (decrease) in short-term debt		—		(1	)	1		(1	)
Net proceeds from issuance of long-term debt		—		2 704		—		2 704
Net increase (decrease) in long-term debt		861		(694	)	1 898		(43	)
Issuance of common shares under stock option plan		7		145		22		169
Dividends paid on common shares		(47	)	(45	)	(94	)	(88	)

Cash flow provided by financing activities		821		2 109		1 827		2 741

Increase (Decrease) in Cash and Cash Equivalents		65		1 491		(168	)	1 567
Effect of Foreign Exchange on Cash and Cash Equivalents		(11	)	(2	)	(7	)	10
Cash and Cash Equivalents at Beginning of Period		431		657		660		569

Cash and Cash Equivalents at End of Period		485		2 146		485		2 146

Suncor Energy Inc.
020 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com


($ millions)	Share Capital	Contributed Surplus		Accumulated Other Comprehensive Income (AOCI)		Retained Earnings

At December 31, 2007	881	194		(253	)	11 074
Net earnings	—	—		—		1 537
Dividends paid on common shares	—	—		—		(88	)
Issued for cash under stock option plan	200	(31	)	—		—
Issued under dividend reinvestment plan	4	—		—		(4	)
Stock-based compensation expense	—	69		—		—
Income tax benefit of stock option deduction in the U.S.	—	4		—		—
Change in AOCI related to foreign currency translation	—	—		41		—
Change in AOCI related to derivative hedging activities	—	—		(54	)	—

At June 30, 2008	1 085	236		(266	)	12 519

At December 31, 2008	1 113	288		97		13 025
Net earnings (loss)	—	—		—		(240	)
Dividends paid on common shares	—	—		—		(94	)
Issued for cash under stock option plan	27	(5	)	—		—
Stock-based compensation expense	—	51		—		—
Income tax benefit of stock option deduction in the U.S.	—	4		—		—
Change in AOCI related to foreign currency translation	—	—		(64	)	—
Change in AOCI related to derivative hedging activities	—	—		2		—

At June 30, 2009	1 140	338		35		12 691

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 021


Three months ended June 30
	Oil Sands				Natural Gas				Refining and Marketing				Corporate and Eliminations				Total
($ millions)	2009		2008		2009		2008		2009		2008		2009		2008		2009		2008

EARNINGS
Revenues
Operating revenues	830		1 738		67		209		1 924		2 779		4		5		2 825		4 731
Energy trading activities	—		—		—		—		2 233		3 253		(1	)	(32	)	2 232		3 221
Intersegment revenues	369		429		7		20		—		—		(376	)	(449	)	—		—
Interest	—		—		—		—		—		—		1		7		1		7

	1 199		2 167		74		229		4 157		6 032		(372	)	(469	)	5 058		7 959

Expenses
Purchases of crude oil and products	164		114		—		—		1 365		2 242		(343	)	(416	)	1 186		1 940
Operating, selling and general	1 028		640		38		39		167		182		57		25		1 290		886
Energy trading activities	—		—		—		—		2 274		3 266		(2	)	(2	)	2 272		3 264
Transportation and other costs	59		50		6		4		7		7		—		—		72		61
Depreciation, depletion and amortization	197		132		54		52		55		57		5		11		311		252
Accretion of asset retirement obligations	25		13		3		2		1		1		—		—		29		16
Exploration	—		—		32		31		—		—		—		—		32		31
Royalties (note 10)	138		130		(7	)	51		—		—		—		—		131		181
Taxes other than income taxes	34		26		3		3		162		137		1		1		200		167
Loss (gain) on disposal of assets	—		2		(15	)	(24	)	20		2		—		—		5		(20	)
Project start-up costs	10		14		—		—		—		—		—		—		10		14
Financing expenses (income)	—		—		—		—		—		—		(268	)	6		(268	)	6

	1 655		1 121		114		158		4 051		5 894		(550	)	(375	)	5 270		6 798

Earnings (loss) before income taxes	(456	)	1 046		(40	)	71		106		138		178		(94	)	(212	)	1 161
Income taxes	149		(295	)	12		(19	)	(34	)	(47	)	34		29		161		(332	)

Net earnings (loss)	(307	)	751		(28	)	52		72		91		212		(65	)	(51	)	829

Suncor Energy Inc.
022 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com


Three months ended June 30
				Oil Sands				Natural Gas				Refining and Marketing				Corporate and Eliminations				Total
($ millions)				2009		2008		2009		2008		2009		2008		2009		2008		2009		2008

CASH FLOW BEFORE FINANCING ACTIVITIES
Cash flow from (used in) operating activities:
	Cash flow from (used in) operations
		Net earnings (loss)		(307	)	751		(28	)	52		72		91		212		(65	)	(51	)	829
		Exploration expenses		—		—		31		29		—		—		—		—		31		29
		Non-cash items included in earnings
			Depreciation, depletion and amortization	197		132		54		52		55		57		5		11		311		252
			Future income taxes	(309	)	231		(5	)	13		45		49		(6	)	(19	)	(275	)	274
			Loss (gain) on disposal of assets	—		2		(15	)	(24	)	20		2		—		—		5		(20	)
			Stock-based compensation expense	13		13		1		—		4		4		6		8		24		25
			Other	7		8		3		(3	)	3		5		(387	)	(32	)	(374	)	(22	)
		Increase (decrease) in deferred credits and other		(2	)	37		—		—		(7	)	2		(4	)	(1	)	(13	)	38

Total cash flow from (used in) operations				(401	)	1 174		41		119		192		210		(174	)	(98	)	(342	)	1 405
Decrease (increase) in operating working capital				874		(664	)	(17	)	(105	)	(316	)	274		(47	)	250		494		(245	)

Total cash flow from (used in) operating activities				473		510		24		14		(124	)	484		(221	)	152		152		1 160

Cash from (used in) investing activities:
	Capital and exploration expenditures			(522	)	(1 798	)	(81	)	(40	)	(28	)	(26	)	—		(5	)	(631	)	(1 869	)
	Deferred outlays and other investments			(1	)	(25	)	—		—		—		1		(18	)	2		(19	)	(22	)
	Proceeds from disposals			—		—		27		25		—		—		—		—		27		25
	Decrease (increase) in investing working capital			(283	)	89		—		—		—		(1	)	(2	)	—		(285	)	88

Total cash (used in) investing activities				(806	)	(1 734	)	(54	)	(15	)	(28	)	(26	)	(20	)	(3	)	(908	)	(1 778	)

Net cash surplus (deficiency) before financing activities				(333	)	(1 224	)	(30	)	(1	)	(152	)	458		(241	)	149		(756	)	(618	)

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 023


Six months ended June 30
	Oil Sands				Natural Gas				Refining and Marketing				Corporate and Eliminations				Total
($ millions)	2009		2008		2009		2008		2009		2008		2009		2008		2009		2008

EARNINGS
Revenues
Operating revenues	1 775		3 683		166		371		3 443		4 801		9		10		5 393		8 865
Energy trading activities	—		—		—		—		4 480		5 134		(2	)	(65	)	4 478		5 069
Intersegment revenues	540		730		22		30		—		—		(562	)	(760	)	—		—
Interest	—		—		—		—		—		—		1		13		1		13

	2 315		4 413		188		401		7 923		9 935		(554	)	(802	)	9 872		13 947

Expenses
Purchases of crude oil and products	226		161		—		—		2 323		3 795		(515	)	(758	)	2 034		3 198
Operating, selling and general	1 937		1 357		80		79		342		357		86		66		2 445		1 859
Energy trading activities	—		—		—		—		4 472		5 119		(3	)	(3	)	4 469		5 116
Transportation and other costs	116		92		11		7		13		13		—		—		140		112
Depreciation, depletion and amortization	380		261		110		110		111		108		12		21		613		500
Accretion of asset retirement obligations	52		27		5		4		1		1		—		—		58		32
Exploration	6		9		33		34		—		—		—		—		39		43
Royalties (note 10)	146		412		16		91		—		—		—		—		162		503
Taxes other than income taxes	71		53		3		3		312		260		1		1		387		317
Loss (gain) on disposal of assets	17		2		(15	)	(24	)	20		4		—		—		22		(18	)
Project start-up costs	26		21		—		—		—		—		—		—		26		21
Financing expenses (income)	—		—		—		—		—		—		(69	)	85		(69	)	85

	2 977		2 395		243		304		7 594		9 657		(488	)	(588	)	10 326		11 768

Earnings (loss) before income taxes	(662	)	2 018		(55	)	97		329		278		(66	)	(214	)	(454	)	2 179
Income taxes	245		(572	)	17		(26	)	(107	)	(92	)	59		48		214		(642	)

Net earnings (loss)	(417	)	1 446		(38	)	71		222		186		(7	)	(166	)	(240	)	1 537

As at June 30
TOTAL ASSETS	27 390		21 181		1 868		1 939		4 944		5 995		(188	)	978		34 014		30 093

Suncor Energy Inc.
024 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com


Six months ended June 30
				Oil Sands				Natural Gas				Refining and Marketing				Corporate and Eliminations				Total
($ millions)				2009		2008		2009		2008		2009		2008		2009		2008		2009		2008

CASH FLOW BEFORE FINANCING ACTIVITIES
Cash flow from (used in) operating activities:
	Cash flow from (used in) operations
		Net earnings (loss)		(417	)	1 446		(38	)	71		222		186		(7	)	(166	)	(240	)	1 537
		Exploration expenses		—		—		31		29		—		—		—		—		31		29
		Non-cash items included in earnings
			Depreciation, depletion and amortization	380		261		110		110		111		108		12		21		613		500
			Future income taxes	(531	)	366		1		16		86		80		26		(34	)	(418	)	428
			Loss (gain) on disposal of assets	17		2		(15	)	(24	)	20		4		—		—		22		(18	)
			Stock-based compensation expense	27		35		2		2		8		11		14		21		51		69
			Other	(4	)	(16	)	5		(3	)	7		10		(226	)	40		(218	)	31
		Increase (decrease) in deferred credits and other		306		(10	)	—		—		(7	)	1		(3	)	(1	)	296		(10	)

Total cash flow from (used in) operations				(222	)	2 084		96		201		447		400		(184	)	(119	)	137		2 566
Decrease (increase) in operating working capital				(182	)	(464	)	(16	)	(64	)	(250	)	164		740		(188	)	292		(552	)

Total cash flow from (used in) operating activities				(404	)	1 620		80		137		197		564		556		(307	)	429		2 014

Cash from (used in) investing activities:
	Capital and exploration expenditures			(1 479	)	(3 108	)	(190	)	(166	)	(60	)	(75	)	—		(9	)	(1 729	)	(3 358	)
	Deferred outlays and other investments			(26	)	(31	)	—		—		—		—		(18	)	(2	)	(44	)	(33	)
	Proceeds from disposals			—		—		27		25		—		—		—		—		27		25
	Decrease (increase) in investing working capital			(678	)	191		—		—		—		(13	)	—		—		(678	)	178

Total cash (used in) investing activities				(2 183	)	(2 948	)	(163	)	(141	)	(60	)	(88	)	(18	)	(11	)	(2 424	)	(3 188	)

Net cash surplus (deficiency) before financing activities				(2 587	)	(1 328	)	(83	)	(4	)	137		476		538		(318	)	(1 995	)	(1 174	)

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 025

These interim consolidated financial statements have been prepared in accordance with Canadian generally accepted accounting principles and follow the same accounting policies and methods of computation as, and should be read in conjunction with, the most recent annual financial statements, except for the accounting policy change as described in note 2, Change in Accounting Policies. Certain information and disclosures normally required to be included in notes to the annual consolidated financial statements have been condensed or omitted.

In the opinion of management, these interim consolidated financial statements contain all adjustments of a normal and recurring nature necessary to present fairly Suncor Energy Inc.'s (Suncor) financial position at June 30, 2009 and the results of its operations and cash flows for the three and six month periods ended June 30, 2009 and 2008.

Certain prior period comparative figures have been reclassified to conform to the current period presentation.

On January 1, 2009, the company retroactively adopted Canadian Institute of Chartered Accountants (CICA) Handbook section 3064 "Goodwill and Intangible Assets". This new standard replaces section 3062 "Goodwill and Other Intangible Assets" and section 3450 "Research and Development Costs", and focuses on the criteria for asset recognition in the financial statements, including those internally developed. The impact of adopting this standard resulted in a change in the classification of our deferred maintenance shutdown costs that had previously been classified within other assets and amortized over the period to the next shutdown, as follows:

Derivatives are financial instruments that either imitate or counter the price movements of stocks, bonds, currencies, commodities and interest rates. Suncor uses derivatives to reduce (hedge) its exposure to fluctuations in commodity prices and foreign currency exchange rates and to manage interest rate or currency-sensitive assets and liabilities. Suncor also uses derivatives for trading purposes. When used in a trading activity, the company is attempting to realize a gain on the fluctuations in the market value of the derivative.

Forwards and futures are contracts to purchase or sell a specific item at a specified date and price. When used as hedges, forwards and futures help to manage the exposure to losses that could result if commodity prices or foreign currency exchange rates change adversely.

Suncor Energy Inc.
026 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

An option is a contract where its holder, for a fee, has purchased the right (but not the obligation) to buy or sell a specified item at a fixed price during a specified period. Options used as hedges help to protect against adverse changes in commodity prices, interest rates, or foreign currency exchange rates.

A costless collar is a combination of two option contracts that limit the holder's exposure to changes in prices to within a specific range. The "costless" nature of this derivative is achieved by buying a put option (the right to sell) for consideration equal to the premium received from selling a call option (the right to purchase).

A swap is a contract where two parties exchange commodity, currency, interest or other payments in order to alter the nature of the payments. For example, fixed interest rate payments on debt may be converted to payments based on a floating interest rate, or vice versa; a domestic currency debt may be converted to a foreign currency debt.

Hedge accounting is a method for recognizing the gains, losses, revenues and expenses associated with the items in a hedging relationship at the time when the underlying transaction impacts earnings. Suncor has elected to use hedge accounting on certain derivatives linked to future commodity and financial transactions.

The company's financial instruments in the Consolidated Balance Sheets consist of cash and cash equivalents, accounts receivable, derivative contracts, substantially all current liabilities (except for the current portions of asset retirement and pension obligations and future income tax), and long-term debt. Unless otherwise noted, carrying values reflect the current fair value of the company's financial instruments.

The estimated fair values of recognized financial instruments have been determined based on the company's assessment of available market information and appropriate valuation methodologies based on industry accepted third-party models; however, these estimates may not necessarily be indicative of the amounts that could be realized or settled in a current market transaction.

The company's fixed-term debt is accounted for under the amortized cost method. Upon initial recognition, the cost of the debt is its fair value, adjusted for any associated transaction costs. We do not recognize gains or losses arising from changes in the fair value of this debt until the gains or losses are realized. Gains or losses on our U.S. dollar denominated long-term debt resulting from changes in the exchange rate are recognized in the period in which they occur. At June 30, 2009, the carrying value of our fixed-term debt accounted for under the amortized cost method was $6.4 billion (December 31, 2008 – $6.7 billion) and the fair value was $6.2 billion (December 31, 2008 – $5.4 billion).

At June 30, 2009, the company had interest rate swaps classified as fair value hedges outstanding until August 2011, relating to fixed-rate debt. There was no ineffectiveness recognized on interest rate swaps designated as fair value hedges during the three and six month periods ended June 30, 2009 and June 30, 2008.

The earnings impact associated with hedge ineffectiveness on derivative contracts to hedge risks specific to individual transactions during the three month period ended June 30, 2009 was a gain of $2 million net of income taxes of $1 million (2008 – loss of $2 million, net of income taxes of $1 million). During the six month period ended June 30, 2009, the earnings impact was a gain of $3 million, net of income taxes of $1 million (2008 – loss of $3 million, net of income taxes of $1 million).

At June 30, 2009, the company had hedged a portion of its forecasted cash flows subject to natural gas price risk. There was no earnings impact associated with realized and unrealized hedge ineffectiveness on derivative contracts designated as cash flow hedges during the three and six month periods ended June 30, 2009 and June 30, 2008.

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 027

The fair value of hedging derivative financial instruments as recorded, is the estimated amount that the company would receive (pay) to terminate the hedging derivative contracts. Such amounts, which also represent the unrealized gain (loss) on the contracts, were as follows:

A reconciliation of changes in AOCI attributable to derivative hedging activities for the six month periods ending June 30 is as follows:

The company also periodically enters into derivative financial instruments such as options, basis swaps, and heat rate swaps that either do not qualify for hedge accounting treatment or hedges that the company has not elected to document as part of a qualifying hedge relationship. The earnings impact associated with these contracts for the three month period ended June 30, 2009, was a loss of $542 million, net of income taxes of $199 million (2008 – a loss of $50 million, net of income taxes of $20 million). During the six month period ended June 30, 2009, the earnings impact was a loss of $690 million net of income taxes of $258 million (2008 – a loss of $60 million, net of income taxes of $24 million).

Suncor Energy Inc.
028 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

In addition to the financial derivatives used for hedging activities, the company uses physical and financial energy contracts, including swaps, forwards and options to earn trading revenues. Physical energy trading contracts involve activities intended to enhance prices and satisfy physical deliveries to customers. Net pretax earnings for the three and six month periods ended June 30, as recorded in our refining and marketing segment, were as follows:

The fair value of unsettled (unrealized) non-designated derivative financial instruments, which includes all contracts referenced in section (c) & (d) above are as follows:

The company is exposed to a number of different financial risks arising from normal course business exposures, as well as the company's use of financial instruments. These risk factors include market risks relating to commodity prices, foreign currency risk and interest rate risk, as well as liquidity risk and credit risk.

The company maintains a formal governance process to manage its financial risks. The company's Risk Management Committee (RMC) is charged with the oversight of the company's risk management for trading risk management activities which are defined as strategic hedging, optimization trading, marketing and speculative trading. The RMC, acting under board authority, meets regularly to monitor limits on risk exposures, review policy compliance and validate risk-related methodologies and procedures. All risk management activity is carried out by specialist teams that have the appropriate skills, experience and supervision with the appropriate financial and management controls.

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 029

At June 30, 2009, the company's exposure to risks associated arising from the use of financial instruments had not changed significantly from December 31, 2008.

Changes in commodity prices on our financial contracts would have the following impact on our net earnings and other comprehensive income for the three months ended June 30, 2009:

For full discussion of the company's financial risk factors, see page 67 of our 2008 Annual Report.

The company's primary capital management objective is to maintain a solid investment-grade credit rating profile. This objective affords the company the financial flexibility and access to the capital it requires to execute on its growth objectives.

The company monitors capital through two key ratios: net debt to cash flow from operations and total debt to total debt plus shareholders' equity.

Net debt to cash flow from operations is calculated as short-term debt plus long-term debt less cash and cash equivalents divided by the twelve month trailing cash flow from operations.

Total debt to total debt plus shareholders' equity is calculated as short term-debt plus long-term debt divided by short-term debt plus long-term debt plus shareholders' equity.

The company's strategy during the second quarter of 2009, which was unchanged from 2008, was to maintain the measure set out in the following schedule. The company believes that maintaining our capital target helps to provide the company access to capital at a reasonable cost by maintaining solid investment-grade credit ratings. The company operates in a cyclical business environment and ratios may periodically fall outside of management targets.

At June 30, ($ millions)

Capital Measure
Target

2009

2008

Components of ratios

Short-term debt

Current portion of long-term debt

Long-term debt

9 508

6 547

Total debt

9 531

6 553

Cash and equivalents

485

2 146

Net debt

9 046

4 407

Shareholders' equity

14 204

13 574

Total capitalization (total debt + shareholders' equity)

23 735

20 127

Cash flow from operations (trailing twelve months)

2 034

4 723

Net debt/cash flow from operations

< 2.0 times

4.4

0.9

Total debt/total debt plus shareholders' equity

40%

33%

Suncor Energy Inc.
030 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com


		Three months ended June 30			Six months ended June 30
($ millions)		2009		2008	2009		2008

Net earnings (loss)		(51	)	829	(240	)	1 537

(millions of common shares)
Weighted-average number of common shares		937		931	937		929
Dilutive securities:
	Options issued under stock-based compensation plans	10		22	9		19

	Weighted-average number of diluted common shares	947		953	946		948

(dollars per common share)
Basic earnings (loss) per share ^(a)		(0.06	)	0.89	(0.26	)	1.66
Diluted earnings (loss) per share ^(b)		(0.06	)	0.87	(0.26	)	1.62

A common share option gives the holder the right, but not the obligation, to purchase common shares at a predetermined price over a specified period of time.

After the date of grant, employees and non-employee directors that hold options must earn the right to exercise them. This is done by the holder fulfilling a time requirement for service to the company, and with respect to certain options, is subject to accelerated vesting should the company meet predetermined performance criteria. Once this right has been earned, these options are considered vested.

The predetermined price at which an option can be exercised is equal to or greater than the market price of the common shares on the date the option is granted.

A performance vesting share unit is an award entitling employees to receive cash to varying degrees contingent upon the company's shareholder return relative to a peer group of companies.

A restricted share unit is a time-vested award with a three-year term entitling employees to receive cash.

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 031

The company granted 468,000 options in the second quarter of 2009, for a total of 961,000 options granted in the six months ended June 30, 2009 (826,000 options granted during the second quarter of 2008; 1,056,000 options granted during in the six months ended June 30, 2008) to all eligible permanent full-time and part-time employees, both executive and non-executive, under its SunShare 2012 performance stock option plan. During 2008, in connection with the achievement of a predetermined performance criterion, 25% of the outstanding options vested under the SunShare 2012 plan and will become exercisable on January 1, 2010. The remaining 75% of outstanding options may vest on January 1, 2013 if further specified performance targets are met. All unvested options which have not previously expired or been cancelled will automatically expire on January 1, 2013.

The company did not grant options under this plan in the second quarter of 2009. A total of 711,000 options were granted in the six months ended June 30, 2009 (26,000 options granted during the second quarter of 2008; 828,000 granted in the six months ended June 30, 2008) to non-employee directors and certain executives and other senior members of the company. Options granted have a ten-year life and vest annually over a three-year period.

Under this plan, the company granted 4,000 common share options in the second quarter of 2009, for a total of 569,000 options granted in the six months ended June 30, 2009 (22,000 options granted during the second quarter of 2008; 2,362,000 granted in the six months ended June 30, 2008) to non-insider senior managers and key employees. Options granted have a ten-year life and vest annually over a three-year period.

The fair values of all common share options granted during the period are estimated as at the grant date using the Monte Carlo simulation approach for the SunShare 2012 option plan and the Black-Scholes option-pricing model for all other option plans. The weighted-average fair values of the options granted during the various periods and the weighted-average assumptions used in their determination are as noted below:

Expense recognized in the second quarter of 2009 related to stock option plans was $24 million (2008 – $25 million). For the six months ended June 30, 2009, expense recognized was $51 million (2008 – $69 million).

In the second quarter of 2009, the company issued 4,000 PSUs (2008 – 18,000). For the six months ended June 30, 2009, the company issued 1,145,000 PSUs (2008 – 780,000). Expense recognized in the second quarter of 2009 was $2 million (2008 – $15 million). Expense recognized for the six months ended June 30, 2009 was $10 million (2008 – $10 million).

In the second quarter of 2009, the company issued 18,000 RSUs (2008 – 46,000). For the six months ended June 30, 2009, the company issued 47,000 RSUs (2008 – 976,000). Expense recognized in the second quarter of 2009 was $5 million (2008 – $5 million). Expense recognized for the six months ended June 30, 2009 was $9 million (2008 – $9 million).

Suncor Energy Inc.
032 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

The company issued 6,000 RSUs in the second quarter of 2009 and 1,568,000 RSUs in the six months ended June 30, 2009 to non-insider senior managers and key employees under its new restricted share unit plan. Expense recognized in the second quarter of 2009 was $7 million, and expense recognized for the six months ended June 30, 2009 was $16 million.

The company's pension plans and other post-retirement benefits programs are described in note 10 of the company's 2008 Annual Report. The following is the status of the net periodic benefit cost for the three and six months ended June 30.

For a description of the Alberta Crown royalty regimes in effect for our oil sands operations, see page 15 of our 2008 Annual Report.

Our current estimation of Alberta Crown royalties is based on regulations and crown agreements currently in effect. Alberta Crown royalties in effect for each of our oil sands projects require payments to the Government of Alberta based on annual gross revenues less related transportation costs (R) less allowable costs (C), including the deduction of certain capital expenditures at 25% to 40% (the R-C Royalty), subject to a minimum payment of 1% to 9% of R (the Minimum Royalty).

Changes in bitumen and natural gas pricing, production volumes, foreign exchange rates, and capital and operating costs for each oil sands project; changes resulting from regulatory audits of prior year filings; changes in legislation and the occurrence of unexpected events all have the potential to have an impact on oil sands royalties payable to the Crown.

The oil sands royalty expense was $146 million for the first six months of 2009, compared to $412 million for the first six months of 2008. The lower expense was due to a significant decrease in price realizations in the first six months of 2009 relative to 2008. In addition, effective January 1, 2009, revenues from our base mine operations are now based on bitumen values (previously based on synthetic crude oil) with a corresponding exclusion of upgrading costs from royalty eligibility. With higher prices in the second quarter than in the first, royalties for the six months of 2009 have reverted back to 25% of R minus C (for our base mining operation) versus the 1% minimum royalty reported in the first quarter of 2009.

The balance of the consolidated royalty expense is in respect of natural gas royalties of $16 million (2008 – $91 million).

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 033


($ millions)		June 30 2009		December 31 2008

Fixed-term debt, redeemable at the option of the Company
6.85% Notes, denominated in U.S. dollars, due in 2039 (US$750)		872		918
6.50% Notes, denominated in U.S. dollars, due in 2038 (US$1150)		1 337		1 408
5.95% Notes, denominated in U.S. dollars, due in 2034 (US$500)		581		612
7.15% Notes, denominated in U.S. dollars, due in 2032 (US$500)		581		612
6.10% Notes, denominated in U.S. dollars, due in 2018 (US$1250)		1 453		1 531
5.39% Series 4 Medium Term Notes, due in 2037		600		600
5.80% Series 4 Medium Term Notes, due in 2018		700		700
6.70% Series 2 Medium Term Notes, due in 2011		500		500

		6 624		6 881
Revolving-term debt, with interest at variable rates
Commercial paper and bankers' acceptances		2 832		934

Total unsecured long-term debt		9 456		7 815
Secured long-term debt		13		13
Capital leases		103		103
Fair value of interest swaps		21		25
Deferred financing costs		(65	)	(72	)

		9 528		7 884

Current portion
	Capital leases	(9	)	(9	)
	Fair value of interest swaps	(11	)	(9	)

Total current portion		(20	)	(18	)

Total long-term debt		9 508		7 866

At June 30, 2009, undrawn lines of credit were approximately $1,453 million, as follows:


($ millions)			2009

Facility that is fully revolving for 364 days, has a term period of one year and expires in 2010			855
Facility that is fully revolving for a period of five years and expires in 2013			3 750
Facilities that can be terminated at any time at the option of the lenders			38

Total available credit facilities			4 643

Credit facilities supporting outstanding commercial paper and bankers' acceptances			2 832
Credit facilities supporting standby letters of credit			358

Total undrawn credit facilities			1 453

Suncor Energy Inc.
034 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

The components of accumulated other comprehensive income, net of income taxes, are as follows:

On March 23, 2009, Suncor and Petro-Canada (TSX:PCA) (NYSE:PCZ) announced that they have agreed to merge the two companies. The merger has received shareholder, court and Competition Bureau approval and with all the conditions necessary to complete the transaction satisfied, Suncor and Petro-Canada intend to make the merger effective August 1, 2009. The combined entity will operate corporately and trade under the Suncor name while maintaining the strong brand presence and customer loyalty of Petro-Canada in refined products.

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 035


		2009		2008

Cash Flow from Operations
(dollars per common share – basic)
For the three months ended June 30
Cash flow from operations ⁽¹⁾		(0.37	)	1.51

For the six months ended June 30
Cash flow from operations ⁽¹⁾		0.15		2.76

Ratios
For the twelve months ended June 30
Return on capital employed (%) ⁽²⁾		7.3		28.8
Return on capital employed (%) ⁽³⁾		5.0		20.7

Net debt to cash flow from operations (times) ⁽⁴⁾		4.4		0.9

Interest coverage on long-term debt (times)
	Net earnings ⁽⁵⁾	1.5		15.9
	Cash flow from operations ⁽⁶⁾	6.1		20.3

As at June 30
Debt to debt plus shareholders' equity (%) ⁽⁷⁾		40.2		32.6

Common Share Information
As at June 30
Share price at end of trading
	Toronto Stock Exchange – Cdn$	35.37		59.20
	New York Stock Exchange – US$	30.34		58.12

Common share options outstanding (thousands)		46 127		48 000

For the six months ended June 30
Average number outstanding, weighted monthly (thousands)		936 598		928 572

Refer to the Quarterly Operating Summary for a discussion of financial measures not prepared in accordance with Canadian generally accepted accounting principles (GAAP).

Suncor Energy Inc.
036 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com


	Three months ended					Six months ended		Twelve months ended
	June 30 2009	Mar 31 2009	Dec 31 2008	Sept 30 2008	June 30 2008	June 30 2009	June 30 2008	Dec 31 2008

OIL SANDS
Production ^(1), ^(a)
Total production	301.0	278.0	243.8	245.6	174.6	289.0	211.0	228.0
Firebag	48.3	42.4	39.7	40.4	34.7	45.4	34.7	37.4
Sales ^(a)
Light sweet crude oil	99.4	108.8	95.7	48.1	68.2	104.1	82.2	77.0
Diesel	25.3	22.8	19.1	10.9	21.2	24.1	24.6	19.8
Light sour crude oil	150.5	102.7	144.2	157.4	91.8	126.7	106.3	128.7
Bitumen	10.5	9.1	3.1	2.6	0.3	9.8	0.2	1.5

Total sales	285.7	243.4	262.1	219.0	181.5	264.7	213.3	227.0

Average sales price ^(2), ^(b)
Light sweet crude oil	66.24	69.26	64.58	121.96	122.12	67.81	109.72	97.54
Other (diesel, light sour crude oil and bitumen)	62.71	48.85	59.77	114.74	120.52	56.93	104.94	95.15
Total	63.93	57.97	61.53	116.32	121.12	61.21	106.47	95.96
Total *	63.79	52.78	61.20	117.14	122.39	58.15	107.36	96.33
Cash operating costs and Total operating costs – Total operations ^(c)
Cash costs	29.65	30.65	35.35	27.80	40.10	30.15	31.30	31.45
Natural gas	1.65	3.00	4.05	4.30	8.75	2.30	6.50	5.25
Imported bitumen	—	0.05	1.90	1.90	2.00	0.05	1.70	1.80

Cash operating costs ⁽³⁾	31.30	33.70	41.30	34.00	50.85	32.50	39.50	38.50
Project start-up costs	0.35	0.65	0.30	0.35	0.90	0.50	0.55	0.40

Total cash operating costs ⁽⁴⁾	31.65	34.35	41.60	34.35	51.75	33.00	40.05	38.90
Depreciation, depletion and amortization	7.20	7.30	7.50	6.70	8.30	7.25	6.80	6.95

Total operating costs ⁽⁵⁾	38.85	41.65	49.10	41.05	60.05	40.25	46.85	45.85

Cash operating costs and Total operating costs – In-situ bitumen production only ^(c)
Cash costs	11.15	10.50	16.55	10.75	10.10	10.80	12.35	13.00
Natural gas	5.25	7.90	9.65	11.30	14.55	6.50	14.40	12.30

Cash operating costs ⁽⁶⁾	16.40	18.40	26.20	22.05	24.65	17.30	26.75	25.30
In-situ (Firebag) start-up costs	1.50	3.35	—	0.80	1.65	2.35	0.95	0.65

Total cash operating costs ⁽⁷⁾	17.90	21.75	26.20	22.85	26.30	19.65	27.70	25.95
Depreciation, depletion and amortization	6.00	7.10	6.55	5.40	6.70	6.45	6.70	6.35

Total operating costs ⁽⁸⁾	23.90	28.85	32.75	28.25	33.00	26.10	34.40	32.30

Ending capital employed excluding major projects in progress ⁽ⁱ⁾	10 008	10 610	9 352	9 035	7 716
(for the twelve months ended)
Return on capital employed ^(j)	11.1	22.9	35.5	46.0	43.6
Return on capital employed ^(j)****	6.5	13.9	21.8	28.6	27.3

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 037


	Three months ended						Six months ended		Twelve months ended
	June 30 2009		Mar 31 2009	Dec 31 2008	Sept 30 2008	June 30 2008	June 30 2009	June 30 2008	Dec 31 2008

NATURAL GAS
Gross production ^**
Natural gas ^(d)	192		200	195	197	205	196	207	202
Natural gas liquids and crude oil ^(a)	3.2		3.1	3.1	2.6	3.4	3.2	3.4	3.1
Total gross production ^(e)	35.1		36.5	35.6	35.4	37.7	35.8	37.9	36.7
Total gross production ^(f)	211		219	213	213	226	215	228	220
Average sales price ⁽²⁾
Natural gas ^(g)	3.56		5.63	6.90	9.10	9.62	4.61	8.45	8.23
Natural gas ^(g) ^*	3.52		5.61	6.84	9.14	9.68	4.58	8.48	8.25
Natural gas liquids and crude oil ^(b)	41.39		39.03	39.31	96.88	86.14	40.23	75.39	70.89
Net wells drilled
Conventional – exploratory ^***	1		2	2	4	2	3	4	10
– development	2		5	4	6	6	7	13	23

	3		7	6	10	8	10	17	33

Ending capital employed ⁽ⁱ⁾	1 200		1 195	1 152	1 120	1 226
(for the twelve months ended)
Return on capital employed ^(j)	(1.7	)	5.0	7.7	10.3	8.3

REFINING AND MARKETING
Refined product sales ^(h)
Transportation fuels
Gasoline – retail	4.6		4.5	4.6	4.5	4.5	4.6	4.6	4.6
– other	13.0		11.9	12.1	11.5	11.8	12.4	11.3	11.3
Distillate	10.4		10.5	10.9	10.6	11.5	10.5	11.0	10.8

Total transportation fuel sales	28.0		26.9	27.6	26.6	27.8	27.5	26.9	26.7
Petrochemicals	1.0		1.0	1.0	1.0	0.9	1.0	0.8	0.8
Asphalt	2.1		2.0	1.5	1.9	1.7	2.0	1.8	1.8
Other	2.8		1.5	1.4	2.5	2.7	2.2	2.3	2.2

Total refined product sales	33.9		31.4	31.5	32.0	33.1	32.7	31.8	31.5

Crude oil supply and refining
Processed at refineries ^(h)	27.4		25.5	24.8	25.1	26.0	26.5	24.5	24.7
Utilization of refining capacity ^(j)	97		90	98	99	102	94	96	97

Ending capital employed excluding major projects in progress ⁽ⁱ⁾	3 224		2 985	2 974	3 289	2 534
(for the twelve months ended)
Return on capital employed ^(j)	3.0		3.7	1.8	9.3	12.6
Return on capital employed ^(j) ^****	3.0		3.7	1.8	9.0	11.6

Suncor Energy Inc.
038 2009 Second Quarter For more information about Suncor Energy, visit our website www.suncor.com

Certain financial measures referred to in the Highlights and Quarterly Operating Summary are not prescribed by Canadian generally accepted accounting principles (GAAP). Suncor includes cash flow from operations, return on capital employed and cash and total operating costs per barrel data because investors may use this information to analyze operating performance, leverage and liquidity. The additional information should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.


(1) Total operations production	–	Total operations production includes total production from both mining and in-situ operations, as well as volumes processed for Petro-Canada on a fee-for-service basis.
(2) Average sales price	–	This operating statistic is calculated before royalties and net of related transportation costs (including or excluding the impact of realized hedging activities as noted).
(3) Cash operating costs operations – Total operations	–	Include cash costs that are defined as operating, selling and general expenses (excluding inventory changes), accretion expense, taxes other than income taxes and the cost of bitumen imported from third parties. Per barrel amounts are based on total production volumes. For a reconciliation of this non-GAAP financial measure see Management's Discussion and Analysis.
(4) Total cash operating costs – Total operations	–	Include cash operating costs – Total operations as defined above and cash start-up costs. Per barrel amounts are based on total production volumes.
(5) Total operating costs – Total operations	–	Include total cash operating costs – Total operations as defined above and non-cash operating costs. Per barrel amounts are based on total production volumes.
(6) Cash operating costs – In-situ bitumen production	–	Include cash costs that are defined as operating, selling and general expenses (excluding inventory changes), accretion expense and taxes other than income taxes. Per barrel amounts are based on in-situ production volumes only.
(7) Total cash operating costs – In-situ bitumen production	–	Include cash operating costs – In-situ bitumen production as defined above and cash start-up operating costs. Per barrel amounts are based on in-situ production volumes only.
(8) Total operating costs – In-situ bitumen production	–	Include total cash operating costs – In-situ bitumen production as defined above and non-cash operating costs. Per barrel amounts are based on in-situ production volumes only.

Suncor Energy Inc.
Inquiries John Rogers (403) 269-8670 2009 Second Quarter 039


($ millions, increase/(decrease))	As at June 30 2009		As at December 31 2008

Property, plant and equipment, net	492		566
Other assets	(492	)	(566	)


	Quantity	Average Price	⁽¹⁾	Hedge
Crude oil	(bpd)	(US$/bbl)		Period

Purchased puts ⁽²⁾	55 000	60.00		2009
Fixed price	108 652	50.85		2009
Purchased puts ⁽²⁾	55 000	60.00		2010
Sold puts ⁽³⁾	54 753	60.00		2010
Collars – floor	50 041	50.00		2010
Collars – cap	49 986	68.06		2010


($ millions)	June 30 2009		December 31 2008

Derivative financial instrument assets ⁽¹⁾	195		635
Derivative financial instrument liabilities ⁽²⁾	946		14

Net assets (liabilities)	(751	)	621


($ millions)	2009

Fair value of contracts at December 31, 2008	621
Fair value of contracts realized during the period	(61	)
Fair value of contracts entered into during the period	(953	)
Changes in values attributable to market price and other market changes during the period	(358	)

Fair value of contracts outstanding at June 30, 2009	(751	)


*		Excludes the impact of realized hedging activities.
**		Currently production is located in the Western Canada Sedimentary Basin.
***		Excludes exploratory wells in progress.
****		If capital employed were to include capitalized costs related to major projects in progress, the return on capital employed would be as stated on this line.


($ millions)	2009	2008

AOCI attributable to derivative hedging activities, beginning of the period, net of income taxes of $5 (2008 – $4)	13	13
Current period net changes arising from cash flow hedges, net of income taxes of $nil (2008 – $23)	—	(57	)
Net unrealized hedging losses at the beginning of the year reclassified to earnings during the period, net of income taxes of $nil (2008 – $1)	2	3

AOCI attributable to derivative hedging activities, at June 30, net of income taxes of $5 (2008 – $18)	15	(41	)


	Three months ended				Six months ended
	June 30				June 30
($ millions)	2009		2008		2009		2008

Physical energy contracts trading activity	(33	)	(18	)	18		12
Financial energy contracts trading activity	(6	)	8		(5	)	8
General and administrative costs	(2	)	(3	)	(5	)	(5	)

Total	(41	)	(13	)	8		15


	Three months ended June 30				Pension Benefits Six months ended June 30
	2009		2008		2009		2008

Current service costs	13		14		26		28
Interest costs	13		12		26		24
Expected return on plan assets	(10	)	(11	)	(20	)	(22	)
Amortization of net actuarial loss	5		5		10		11

Net periodic benefit cost	21		20		42		41


	Three months ended June 30		Other Post-Retirement Benefits Six months ended June 30
	2009	2008	2009	2008

Current service costs	2	1	3	2
Interest costs	3	3	5	5
Amortization of net actuarial loss	—	—	—	1

Net periodic benefit cost	5	4	8	8


(a)	thousands of barrels per day	(d)	millions of cubic feet per day	(g)	dollars per thousand cubic feet
(b)	dollars per barrel	(e)	thousands of barrels of oil equivalent per day	(h)	thousands of cubic metres per day
(c)	dollars per barrel rounded to the nearest $0.05	(f)	millions of cubit feet equivalent per day	(i)	$ millions
				(j)	percentage


Crude oil, refined products, etc.		1m ³ (cubic metre) = approx. 6.29 barrels