Albian Sands Energy Inc.

Albian Sands Energy Inc. Apprenticeship Scholarship

Over 100 million years ago, the Albian Boreal Sea molded the landscape we have come to know as northern Alberta. As the Albian Sea moved over the McMurray sands, a blanket of marine shale was deposited on its floor and trapped the hydrocarbons of the McMurray Formation. The resource of the Muskeg River Mine is a legacy of the Albian Sea. We thought it fitting that the company that will bring these ancient sands to the light of day should bear this name.

Albian Sands Energy Inc. is a new company created to construct and operate the Muskeg River Mine. The Muskeg River Mine is part of the Athabasca Oil Sands Project - a $3.5 billion oil sands mine, extraction and upgrading project.

The Athabasca Oil Sands Project is a joint venture of Shell Canada, Chevron, and Western Oil Sands Inc. People hired in positions with the Muskeg River Mine will be Albian Sands employees.

The Athabasca Oil Sands Project (AOSP) consists of two main components:

 $1.8-billion Muskeg River Mine, located 75 kilometres north of Fort McMurray, Alberta.

 $1.7-billion Scotford Upgrader, beside Shell's Scotford Refinery in Fort Saskatchewan, Alberta. Both of these projects will be funded by a new joint venture formed by Shell Canada, Chevron, and Western Oil Sands.

Sustainable development is a way of doing business that achieves three objectives: sustainable communities, a sustainable environment, and sustainable economic growth. It means acting today with tomorrow in mind.

Sustainable development applies to the everyday choices we make, and to our plans for future development. For the Athabasca Oil Sands Project it's how we do business.

 The Athabasca Oil Sands Project will provide product to help refiners meet the continuing North American demand for high quality, low sulphur transport fuels and replace declining oil production.

 The Project will contribute to local economies, provide needed employment -approximately 1,000 permanent jobs -, and generate substantial tax revenues ($5-billion in royalties and taxes over the life of the project).

 Consultation with local communities - particularly First Nations and Métis people - will continue.

 We are designing and will operate and reclaim sites with the best environmental practices available.

 Full-cycle carbon dioxide emissions will be reduced by 50 per cent by 2010 - to the same level as those from imported crude oil - by operational improvements or offsets.

 An independent panel of environmental agencies and community representatives will help evaluate and monitor our Greenhouse Gas Management Plan.

 Albian Sands is one of the newest members of the Wood Buffalo Environmental Association. More info can be found at www.wbea.org.