Petro-Canada Reports Another Strong Quarter

Petro-Canada says third quarter operating earnings from continuing operations adjusted for unusual items of $630 million ($1.29/share), compared with $564 million ($1.13/share) in the third quarter of 2006. Third quarter 2007 cash flow from continuing operating activities before changes in non-cash working capital was $1,229 million ($2.52/share), compared with $1,085 million ($2.17/share) in the same quarter of last year.

Net earnings from continuing operations were $776 million ($1.59/share) in the third quarter of 2007, compared with $678 million ($1.36/share) in the same period of 2006. Net earnings include unrealized gains or losses on derivative contracts, and gains or losses on foreign currency translation and disposal of assets.

"The third quarter was another strong quarter for Petro-Canada, and this is shaping up to be a good year for us," said Ron Brenneman, president and CEO.


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