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Constant Price at December 31, 2007 for National Instrument 51-101 Reporting

SUMMARY OF PRICE FORECASTS, INFLATION and EXCHANGE RATES
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 Light Crude Oil Heavy & Medium Oil Natural Gas Liquids and Sulphur
***************************************** *********************************************************** ******************************************************************************
           - Prices in Canadian Dollars -            
Year 1
WTI
Cushing
Oklahoma
$US/Bbl		 Edmonton
Par Price
40 API
$/Bbl
Alberta
Royalty
Par Price
 $/Bbl		 Hardisty
Heavy
12 API
$/Bbl		 Hardisty Lloydblend
22.3 API
$/Bbl		 Cromer
Medium
29.3 API
$/Bbl		 Hardisty
Bow River
24.9 API
$/Bbl		 Ethane
Plant Gate
$/Bbl		 Edmonton
Propane
$/Bbl		 Edmonton
Butane
$/Bbl		 Edmonton
Pentanes
Plus
$/Bbl		 Plant
Gate
Sulphur
$/LT		 2
Energy Cost Inflation
Rate
%/Yr		 Cost Inflation
Rate
%/Yr		 Exchange
Rate
$US/$Cdn
-------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- --------
1989 Act 19.58 22.20 13.67 18.29 6.05 8.13 9.82 21.25 71.45 5.3 0.845
1990 Act 24.53 27.65 16.00 22.75 21.40 6.05 13.15 15.64 26.62 61.12 4.9 0.857
1991 Act 21.50 23.42 9.06 16.82 15.07 6.00 11.89 15.25 22.30 54.77 5.8 0.873
1992 Act 20.56 23.76 22.83 12.90 18.39 17.47 6.00 10.03 14.04 22.34 23.05 1.9 0.829
1993 Act 18.46 21.87 22.39 13.56 17.60 16.72 6.00 14.23 13.26 21.49 -2.23 1.8 0.776
1994 Act 17.18 22.15 21.49 15.02 19.26 17.88 5.51 12.52 13.45 21.25 16.57 0.2 0.732
1995 Act 18.42 24.18 22.93 17.26 19.38 21.69 20.80 3.19 14.51 14.00 24.21 30.66 2.2 0.729
1996 Act 22.13 29.26 26.26 20.06 24.26 26.07 25.11 3.85 22.16 17.13 29.58 14.44 1.4 0.734
1997 Act 20.60 27.97 27.31 14.35 20.38 23.71 21.25 5.12 18.56 19.05 29.11 11.80 -7% 1.6 0.722
1998 Act 14.40 20.39 24.29 9.41 13.29 16.95 14.63 5.62 10.94 11.88 20.89 7.01 -30% 1.3 0.675
1999 Act 19.25 27.54 22.31 20.42 22.12 25.35 23.35 8.09 15.41 17.72 27.56 13.00 34% 1.5 0.673
2000 Act 30.30 44.03 40.34 28.61 32.59 39.90 34.49 14.06 31.34 34.83 46.27 14.14 57% 1.5 0.674
2001 Act 25.94 39.06 40.73 18.05 23.46 31.56 25.04 17.26 29.87 27.93 42.46 -2.26 -14% 2.0 0.646
2002 Act 26.09 40.12 35.41 27.58 30.59 35.46 31.85 11.20 20.36 25.39 40.80 12.71 1% 2.7 0.637
2003 Act 31.14 43.23 40.76 27.39 31.16 37.53 33.00 18.44 32.97 34.55 44.16 41.32 19% 2.5 0.716
2004 Act 41.42 52.91 47.22 30.40 36.18 45.72 37.98 19.05 35.95 41.37 53.91 40.42 33% 1.3 0.770
2005 Act 56.46 69.29 66.79 34.35 42.79 57.36 45.62 23.78 38.54 45.20 69.13 41.26 36% 1.6 0.826
2006 Act 66.09 73.30 71.37 43.32 50.30 62.35 51.54 19.83 44.09 59.32 75.03 19.30 17% 1.5 0.882
2007 Act 72.23 77.03 74.58 44.71 51.87 65.11 53.09 18.42 49.51 63.68 77.26 20.00 0.09 2.0 0.935
(1) (1) (2) (4) (4) (4) (4) (2) (1) (1) (4) (3) (1)
 December 31, 2007 96.00 93.44 89.14 41.70 53.44 72.58 54.74 18.06 61.75 81.79 95.59 25.00 1.009
(1) Posted prices at December 31, 2007. 
(2) Estimated on the basis of December 31, 2007 postings.
(3) Sproule's 2007 forecast at December 31, 2007
(4) Based on the December 31, 2007 WTI price adjusted for the December 2007 average differential to WTI in $US/Bbbl converted to $Cdn
 using the December 31, 2007 exchange rate of 1.0088 $US/$Cdn
Other Prices posted as of December 31, 2007
Brent - $96.02 US/Bbl
Forties - $96.02 US/Bbl


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