CALGARY, ALBERTA--(Marketwire - Dec. 13, 2007) -

Highlights

• $5.3 billion capital program planned: focus on long-life projects that provide sustainable cash flow
• Upstream production guidance range for 2008 of 390,000 barrels of oil equivalent per day (boe/d) to 420,000 boe/d

Petro-Canada's Board of Directors today approved a capital and exploration expenditure program totalling $5.3 billion for 2008, an increase of 28% compared with the program in 2007.

CALGARY, ALBERTA--(Marketwire - Dec. 12, 2007) - Petro-Canada announced today that it had entered into contracts to close out the hedged portion of its Buzzard production from January 1, 2008 to December 31, 2010. Under the terms of the contracts, the Company has repurchased 30,688,000 barrels (bbls) of Dated Brent crude oil at an average price of approximately $85.79 US/bbl ($83.20 Cdn/bbl(1)), resulting in a settlement of $1.72 billion US ($1.67 billion Cdn(1) or $1.11 billion Cdn after tax(1)).

LONDON, ENGLAND--(Marketwire - Dec. 10, 2007) - Petro-Canada announced today it has signed binding heads of agreement with the Libyan National Oil Corporation (NOC) to convert its existing Participation Agreements and old Exploration Production Sharing Agreements (EPSA) to six new EPSA IV agreements.

December 2007

LEGAL NOTICE - FORWARD-LOOKING INFORMATION / RESERVES ESTIMATES

This release contains forward-looking information. You can usually identify this information by such words as "plan," "anticipate," "forecast," "believe," "target," "intend," "expect," "estimate," "budget" or other similar wording suggesting future outcomes or statements about an outlook. Below are examples of references to forward-looking information:

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2007) - Petro-Canada will host an Investor Day on Wednesday, Nov. 28 from 10:30 a.m. to 2:15 p.m. MST. The event will focus on the Company's Downstream business.

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2007) - Tell us which sport you'd like to see at the Olympic and Paralympic Games. Now all Canadians can have a say when they cast their votes online at www.iwilldreambig.ca during the Petro-Canada Dream Big contest. That's because the finalist who gets the most votes wins a chance to present their sport to the Canadian Olympic Committee, plus a trip for two to attend the 2010 Olympic Winter Games in Vancouver.

CALGARY, ALBERTA--(Marketwire - Oct. 25, 2007) - Petro-Canada announces a quarterly dividend of $0.13 per share on the outstanding common shares of the Company, payable on January 1, 2008 to shareholders of record at the close of business on December 3, 2007.

CALGARY, ALBERTA--(Marketwire - Oct. 25, 2007) - Petro-Canada announced today 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.

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2007) - Have a dream? Make it happen! Petro-Canada wants to know what sport Canadians feel should be elevated to Olympic Games status. From air guitar and ultimate frisbee to skateboarding, this is a once-in-a-lifetime opportunity for Canadians to tell the world about what they love to do and what matters to them - no matter how crazy or off-the-wall.

MISSISSAUGA, ONTARIO--(Marketwire - Oct. 9, 2007) - Petro-Canada is pleased to announce that it's new PURITY FG with MICROL has received the International Stevie Award for Best New Product or Service. This industrial strength food grade lubricant contains MICROL, which is the first and only antimicrobial preservative registered by the U.S. Environmental Protection Agency (EPA) for use in food grade lubricants. It's produced at the Petro-Canada Lubricants Centre in Mississauga, Ontario.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - There's a new Cat in town! Podi, the Petro-Canada Paralympic Schools Program mascot was unveiled today at General Gordon Elementary School in Vancouver, BC. Joining Podi were Paralympic athletes and other special guests who tried their hand at ice sledge hockey, goalball and wheelchair basketball.

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2007) - On October 3, 2007, Ron Brenneman, President and CEO, hosted a media conference call to discuss the company's response to the Alberta Royalty Review recommendations.

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2007) -

October 3, 2007

Dear Premier Stelmach:

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2007) - In the spirit of trying to reach a compromise solution to the debate on royalties, Petro-Canada sent a letter to the Government of Alberta yesterday commenting on the Royalty Report's analysis and recommending key aspects of a workable royalty scheme. The Company acknowledges that Albertans should rightly expect royalty income to the province to increase as oil and gas prices rise. But, those royalty increases must be balanced against investment and job creation in the industry to maintain the prosperity that all Albertans want to enjoy.

CALGARY, ALBERTA--(Marketwire - Sept. 25, 2007) - Fort Hills Energy L.P. is pleased to announce that it has entered into a Memorandum of Agreement with Sturgeon County and the Alberta Capital Region Wastewater Commission (ACRWC) to use treated wastewater from the ACRWC as industrial process water at the Fort Hills Sturgeon Upgrader.

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2007) - Petro-Canada announced today that it has concluded an agreement to earn an additional 5% working interest in the Fort Hills oil sands project, bringing the Company's total stake to 60%.

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 10, 2007) - Petro-Canada has a new way to talk with motorists about gasoline pricing and fuel efficiency. Through the pumptalk.ca blog, Petro-Canada employees will discuss these topics with Canadians who are increasingly turning to the Internet to find information and share their thoughts and viewpoints on these important issues.

CALGARY, ALBERTA--(Marketwire - July 27, 2007) - Petro-Canada today released its 2006-2007 Report to the Community, outlining priorities and performance relative to commitments made in the Company's Principles for Responsible Investment and Operations. This year's Report to the Community includes a feature story on Petro-Canada's approach to working with stakeholders impacted by our operations.

CALGARY, ALBERTA--(Marketwire - July 26, 2007) - Petro-Canada announced today second quarter operating earnings from continuing operations adjusted for unusual items of $805 million ($1.63/share), compared with $474 million ($0.94/share) in the second quarter of 2006. Second quarter 2007 cash flow from continuing operating activities before changes in non-cash working capital was $1,350 million ($2.74/share), compared with $754 million ($1.49/share) in the same quarter of last year.

CALGARY, ALBERTA--(Marketwire - July 4, 2007) - The Calgary Stampede is pleased to partner with Petro-Canada for Family Day on Sunday, July 8. This is a special day for families to get together and enjoy the Stampede.

CALGARY, ALBERTA--(Marketwire - June 28, 2007) - Petro-Canada, on behalf of the Fort Hills Energy L.P., today announced the formal design basis for its Fort Hills Project - an integrated oil sands mining project that includes a mine and bitumen extraction plant 90 kilometres north of Fort McMurray, Alberta and an upgrader in Sturgeon County northeast of Edmonton, Alberta. This milestone marks the partnership's commitment to proceed with the front-end engineering and design (FEED) stage. The FEED process will take about 12 months to complete, producing a definitive cost estimate and the basis upon which the final go-ahead decision on the project will be made.

QUEBEC CITY, QUEBEC--(Marketwire - June 27, 2007) - The Cacouna Energy Project, a joint project of Petro-Canada and TransCanada Corporation (TransCanada) learned today that the Quebec government has granted a decree approving the proposal to construct the first liquefied natural gas (LNG) re-gasification terminal in Quebec. The terminal would be located in Gros Cacouna, approximately 200 kilometres east of Quebec City on the south shore of the St. Lawrence River. In advance of granting the decree, the Quebec Ministry of Environment completed its environmental assessment of the project.

FORT ST. JOHN, BRITISH COLUMBIA--(Marketwire - June 22, 2007) - Petro-Canada today hosted a community event to formally recognize the expansion of Charlie Lake Provincial Park in northern British Columbia.

CALGARY, ALBERTA--(Marketwire - June 20, 2007) - Petro-Canada announced today that the Toronto Stock Exchange (TSX) approved its application to renew its Normal Course Issuer Bid (NCIB) for the repurchase of its common shares.

VARENNES, QUEBEC--(Marketwire - June 20, 2007) - Petro-Canada and GreenField Ethanol have inked a long-term deal that makes Petro-Canada the exclusive purchaser of all ethanol produced at GreenField Ethanol's new facility in Varennes, Quebec. The ethanol will be blended with gasoline destined for Petro-Canada retail sites in the Greater Montreal Area.

ST. JOHN'S, NEWFOUNDLAND & LABRADOR--(Marketwire - June 19, 2007) - Petro-Canada is pleased to announce the appointment of Alan Brown as Regional Manager of its East Coast Canada offshore oil production business, headquartered in St. John's, Newfoundland and Labrador. Mr. Brown joins Petro-Canada with more than 25 years of progressive North Sea and international experience in managing all aspects of large, complex offshore oil and gas projects, including project management, engineering, operations and business planning.

HALIFAX, NOVA SCOTIA--(CCNMatthews - April 20, 2007) - As part of its Community Outreach Program, presented by Petro-Canada, the Canadian Olympic Committee (COC) teamed with 10 Olympic athletes today, including Olympic medallists Brad Gushue, Marianne Limpert, Stephen Giles and Tania Vicent, to deliver a message of inspiration to more than 4,500 students at 20 Halifax area schools.

CALGARY, ALBERTA--(CCNMatthews - March 29, 2007) - Petro-Canada today filed its 2006 Strategic Overview Report, Financial Report, Annual Information Form (AIF) and Management Proxy Circular with securities regulators in Canada and the United States.

WATERLOO, ONTARIO--(CCNMatthews - March 26, 2007) - Petro-Canada announced today a $1 million donation to establish the Petro-Canada Emerging Leaders Awards Program at the University of Waterloo to help address Canada's shortage of skilled workers.

MISSISSAUGA, ONTARIO--(CCNMatthews - Feb. 22, 2007) - Petro-Canada has been working hard to keep serving customers at both the wholesale and retail level throughout the current supply situation in Ontario.

CALGARY, ALBERTA--(CCNMatthews - Feb. 22, 2007) - Rocks dropped at Petro-Canada's downtown Calgary offices on Thursday, February 22 to kick off the release of the first Royal Canadian Mint Vancouver 2010 25-cent circulation coin, celebrating the sport of curling. Olympic Bronze medal curlers Amy Nixon, Bronwen Saunders and Christine Keshen joined Petro-Canada President and Chief Executive Officer Ron Brenneman to launch the event with an introduction of the program and ceremonial rock drop.

CALGARY, ALBERTA--(CCNMatthews - Feb. 22, 2007) - Starting on February 23, 2007, participating Petro-Canada retail locations will sell exclusive Vancouver 2010 coin sport cards in support of Canadian athletes and coaches. The program is part of a partnership with the Royal Canadian Mint and RBC to circulate a 25-cent coin that profiles an Olympic or Paralympic winter sport leading up to Vancouver 2010. The first 25-cent circulation coin and collector card depicts the popular sport of curling.

CALGARY, ALBERTA--(CCNMatthews - Feb. 20, 2007) - Harry Roberts, Executive Vice-President and Chief Financial Officer at Petro-Canada will present at the CIBC World Markets 10th Annual Whistler Institutional Investor Conference in Whistler, B.C. on Thursday, February 22, 2007 at 1:00 p.m. Eastern time (10:00 a.m. Pacific time). The presentation will include information on Petro-Canada's performance, growth strategy and outlook.

CALGARY, ALBERTA--(CCNMatthews - Feb. 12, 2007) - Boris Jackman, executive vice-president, downstream at Petro-Canada will present at Scotia Capital's Energy Summit 2007 Conference in Toronto, Ontario on Wednesday, February 14, 2007 at 12:30 p.m. Eastern time (10:30 a.m. Mountain time). The presentation will include information on Petro-Canada's performance, Downstream strategy and outlook.

CALGARY, ALBERTA--(CCNMatthews - Feb. 8, 2007) - Ron Brenneman, president and chief executive officer at Petro-Canada will present at the Credit Suisse Energy Summit Conference in Vail, Colorado on Friday, February 9, 2007 at 10:45 a.m. Eastern time (8:45 a.m. Mountain time). The presentation will include information on Petro-Canada's performance, growth strategy and outlook.

CALGARY, ALBERTA--(CCNMatthews - Feb. 6, 2007) - Petro-Canada has evaluated the bids received and has determined that it will not divest its interest in the five in situ oil sands properties of Chard, Stony Mountain, Liege, Thornbury and Ipiatik. Petro-Canada's resource ownership in these properties is estimated at 1.7 billion barrels of bitumen.

CALGARY, ALBERTA--(CCNMatthews - Jan. 17, 2007) - Petro-Canada will host a conference call for analysts and investors on Thursday, January 25, 2007 at 7:00 a.m. Mountain time (9:00 a.m. Eastern time) to discuss fourth quarter results, which will be released on January 25, 2007. The media will be invited to ask questions following the analysts and investors. If you are unable to join us on January 25, a postview of the conference call will be available until April 23, 2007.

CALGARY, ALBERTA--(CCNMatthews - Jan. 15, 2007) - Petro-Canada has completed the sale of its interests in the Brazeau facilities and associated field reserves as well as interests in the West Pembina facilities and associated West Pembina field reserves. Blaze Energy Ltd. was the purchaser.

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2007) - Pictured is Ron Brenneman, President and Chief Executive Officer of Petro-Canada presenting a cheque for $1 million to University of Alberta President Indira Samarasekera. They are joined by the students selected to receive Petro-Canada's new Emerging Leaders awards.