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Athabasca Oil Sands Project Sets Monthly Production Record

THE WALL STREET JOURNAL: Athabasca Oil Sands Project Sets Monthly Production Record

DOW JONES NEWSWIRES

Posted 3 Sept 04

CALGARY — The Athabasca Oil Sands Project achieved record monthly production in August of 182,000 barrels of bitumen a day.

In a news release, Shell Canada Ltd. (SHC.T), the integrated oil and gas company which owns 60% of the project, said August results will offset the lower production in July of 121,000 b/d related to unscheduled maintenance work on one of the froth treatment plant settlers. Follow-up maintenance work on the other two settlers is planned for October and will reduce output by about 50% for up to two weeks, it noted.

The Athabasca project consists of the Muskeg River mine north of Fort McMurray, Alta. and the Scotford Upgrader near Edmonton.

Chevron Canada Ltd. and Western Oil Sands Inc. (WTO.T) each own 20% of the project.

Company Web Site: http://www.shell.ca

-Carolyn King, Dow Jones Newswires; 416-306-2100

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