April 3, 2006

Synenco releases disclosure document for Northern Lights project; EIA draft terms of reference issued

CALGARY, ALTA-As managing partner of the Northern Lights partnership, Synenco Energy has released a public disclosure document for the partnership's Northern Lights upgrader project, proposed for development 40 km northeast of Edmonton. This document, which marks the formal initiation of the regulatory approvals process, provides information about the project and forecasts timelines for receiving regulatory approvals, conducting the environmental impact assessment (EIA), presenting a community and stakeholder engagement program, and completing the project. While further engineering studies are needed to predict volumes of emissions and releases associated with the development, the partnership is committed to the use of best available technologies economically achievable (BATEA) in order to minimize the project's environmental impacts. This approach will include optimizing energy efficiency to the highest possible level. The anticipated schedule calls for baseline environmental studies to continue throughout 2006, with the project EIA completed this year as well; final terms of reference for the EIA are expected by mid-year. (Proposed terms of reference have just been issued, with comments to be directed to Alberta Environment by May 15, 2006.) The regulatory review and approval process is expected to take up much of 2006-07, followed by engineering/procurement/construction between 2008 and 2010; startup is projected for 2010. More information, including the public disclosure document and the draft terms of reference for the EIA, are available on Synenco's Web site, www.synenco.com.

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