Business
Shell Canada announces $4 billion investment program for 2007
Shell Canada announces $4 billion investment program for 2007.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 23 /CNW/ - Shell Canada announced today a 2007 investment\nplan totalling $4 billion, nearly 50 per cent higher than the 2006 plan. The\n2007 plan will include more than $3.6 billion of capital expenditures and\nalmost $400 million of related exploration and pre-development expenses that\nwill deliver profitability and growth now and into the future.\n\"This investment plan supports Shell Canada's growth in unconventional\noil and gas while maintaining the leadership position of our Oil Products\nbusiness,\" said Clive Mather, President and CEO, Shell Canada Limited. \"North\nAmerican and global economies are generating long-term energy demand which\nencourages the development of Canadian oil sands and unconventional gas.\nGrowth will be funded from our robust operational earnings and strong balance\nsheet. Key points of leverage are our high quality leases, access to\ntechnology, depth of professional skills and our overarching commitment to\nsustainable development.\"\n\n>\n\nCautionary Note\n\nThis document contains \"forward-looking statements\" based upon\nmanagement's assessment of the Company's future plans and operations. The\nforward-looking statements contained in this document include references to\nanticipated growth, growth strategy and long-term profitability, future\ncapital and other expenditures, organizational and financial capability,\ndevelopment, drilling, construction and expansion, the viability and benefits\nof planned and future expansion projects, the timing of investment decisions,\nupgrading capacity, construction of manufacturing infrastructure, resources\nand reserves estimates, future production of resources and reserves, receipt\nof regulatory approvals, the effects and benefits of technology used by the\nCompany, operational reliability, project schedules and execution, refining\nmargins, market share and market conditions.\nReaders are cautioned not to place undue reliance on forward-looking\nstatements. Although the Company believes that the expectations represented by\nsuch forward-looking statements are reasonable based on the information\navailable to it on the date of this document, there can be no assurance that\nsuch expectations will prove to be correct.\nForward-looking statements involve numerous assumptions, known and\nunknown risks, and uncertainties that may ...