Mapath Capital CorpTSXV: MPTH.H

Athabasca Oil Sands Project Turnaround Update

CALGARY, June 12 /CNW/ - Shell Canada Limited announced today that
completion of the first major scheduled maintenance turnaround of the
Athabasca Oil Sands Project will be extended beyond the previously announced
eight week duration because additional work is required. Start-up is now
expected to begin late June, building to fully integrated production rates by
mid-July.
The complex and extensive shutdown, which includes the Muskeg River Mine
(MRM) and the Scotford Upgrader, started the beginning of May. Following
initial cleaning and inspection of the equipment, a decision was taken to
undertake additional maintenance and repair work at both MRM and the Upgrader
including the removal of large amounts of coke from the reactor vessels at
Scotford. This turnaround is the largest in Shell Canada's history and
employed over 4,000 maintenance workers at its peak.
Shell's share of the turnaround costs is expected to be in the range of
$100 million to $125 million, the majority of which will be incurred in the
second quarter.
Shell is working closely with customers to manage the reduced synthetic
crude production due to the shutdown extension. In addition, Shell's Scotford
Refinery has secured alternate feedstock so its operations and customer
commitments are unaffected.
The Muskeg River Mine is located about 75 kilometres north of Fort
McMurray, Alberta. The Scotford Upgrader is located near Fort Saskatchewan,
northeast of Edmonton. Together the facilities make up the Athabasca Oil Sands
Project, a joint venture among Shell Canada Limited (60%), Chevron Canada
Limited (20%) and Western Oil Sands L.P. (20%).

This document contains "forward-looking statements" based upon
management's assessment of the Corporation's operations. The forward-looking
statements contained in this document include references to turnaround
schedules and costs, future production, operational reliability and product
supply arrangements. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements involve numerous
assumptions, known and unknown risks, and uncertainties that may cause the
Corporation's actual performance or results to differ materially from any
estimates or projections of future performance or results expressed or implied
by such forward-looking statements. These assumptions, risks and uncertainties
include, but are not limited to, project schedules, operating conditions,
operating costs, labour availability, material and equipment shortages,
disruptions in product supply and other factors, many of which are beyond the
control of the Corporation. Although the Corporation believes that the
expectations represented by such forward-looking statements are reasonable
based on the information available to it on the date of this document, there
can be no assurance that such expectations will prove to be correct.