Harvest was formed in July of 2002 and has experienced significant growth and value appreciation since that time.  With a balanced asset base, superior operational expertise, extensive land base and development opportunities, Harvest is well positioned to continue generating returns for our unitholders.  Our inventory of future development projects includes 1,400+ future drilling locations on more than 500,000* net acres of undeveloped land. 

Our upstream asset portfolio includes an estimated over 2 billion barrels of original oil in place on our conventional lands, with an additional 1 billion barrels estimated on our oil sands leases.  With access to such a sizeable resource, Harvest’s upstream teams are focused on deploying new and proven enhanced oil recovery technologies to further capture value from our reservoirs.

In August, 2006, Harvest became an integrated energy company with the acquisition of North Atlantic Refining and its related marketing businesses.  The principal asset of North Atlantic is a medium gravity, sour-crude hydrocracking refinery located in Come by Chance, Newfoundland with current crude capacity of 115,000 barrels (“bbl”) per stream day (“BPSD”). Since 1994, North Atlantic Refining Ltd. has invested approximately $600 million to ensure a safe, clean, reliable and productive operation including refinery expansion, upgrades and improvements so its gasoline, ultra low sulphur diesel and jet fuel meet the most stringent specifications required within North America (including California), Europe and Asia.  The refinery has the second leading utilization rate for oil refineries in Canada, transforming lower cost medium sour crude into some of the cleanest fuels in the world, and over $2 billion in clean fuels is exported annually.

*This figure is based on year end 2008, excluding expiries, land sales or purchases.