The following are a few reasons we believe UTS’ is a good investment:



· UTS has no debt and is now potentially fully funded until at least the first quarter of 2012, with $270 million in cash, and $700 million in remaining earn-in value from our partners Teck and Suncor (formerly Petro-Canada)



· The merger between Petro-Canada and Suncor is finalized, which we see as very positive for the Fort Hills – utilizing existing Suncor expertise and infrastructure offers valuable flexibility and potential synergies for UTS



· With 1.7 billion barrels of contingent bitumen resources, not including the additional recent discovery in the Lease 421 Area, we believe, this puts UTS as the last pure play development company of oil sands mining assets



· Project costs have fallen as the demand for critical goods and services has dropped. Costs for the Fort Hills Project are now down about 30 per cent, falling below $10 billion for Phase I mining and extraction costs. With a scope change to a single bitumen train (instead of the two trains currently planned), the Phase I cost could fall below $8 billion which could put UTS in a strongly funded position for Phase I. Please refer to our most recent MD&A for more detail:



http://www.uts.ca/documents/reports/2009...



· Oil prices have returned to levels that better support oil sands project economics



· While access to credit markets is not a pressing need for UTS at this time credit markets are showing signs of life, as numerous companies have completed financings recently, all of which we see as a positive for the oil sands industry overall





Hopefully this helps. As always, we appreciate your interest and support in UTS.