Petro-Canada to Release Its 2009 Outlook


December 3, 2008

Petro-Canada (TSX: PCA, NYSE: PCZ) Calgary, Alberta - Petro-Canada will release its 2009
Capital Expenditure and Production Outlook on Thursday, December 11, 2008 at 3:00 a.m.
Mountain time (5:00 a.m. Eastern time), followed by a conference call for analysts, investors and
the media at 7:00 a.m. Mountain time (9:00 a.m. Eastern time).

The conference call will also be webcast live on Petro-Canada's website.

Presenters: Ron A. Brenneman, President and CEO; and
Harry Roberts, Executive Vice-President and CFO

Conference Call Host: Ken Hall, Senior Director, Investor Relations

Date: December 11, 2008

Time: 7 a.m. Mountain time (9 a.m. Eastern time)

Telephone: Analysts & Investors:
1-866-898-9626 (toll-free in North America);
00-800-8989-6323 (toll-free internationally) or 416-340-2216

Media: 1-866-540-8136 (toll-free in North America) or 416-340-8010

Webcast: http://www.petro-canada.ca/en/investors/93.aspx
Postview available one hour after the conclusion of the conference call
and will be accessible until March 11, 2009 by dialing 1-800-408-3053
(toll-free in North America) or 416-695-5800; (passcode number
3275438#) or by visiting http://www.petro-canada.ca/en/investors/93.aspx

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and
the downstream sectors of the industry in Canada and internationally. The Company creates value by
responsibly developing energy resources and providing world class petroleum products and services.
Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic
Winter Games. Petro-Canada's common shares trade on the Toronto Stock Exchange (TSX) under
the symbol PCA and on the New York Stock Exchange (NYSE) under the symbol PCZ.

For more information please contact:
Investor and analyst inquiries:
Ken Hall
Investor Relations
Petro-Canada, Calgary
e-mail: Investor@petro-canada.ca
Tel: (403) 296-7859

Media & general inquiries:
Andrea Ranson
Corporate Communications
Petro-Canada, Calgary
e-mail: corpcomm@petro-canada.ca
Tel: (403) 296-4610

Lisa McMahon
Investor Relations
e-mail: Investor@petro-canada.ca
Tel: (403) 296-3764
www.petro-canada.ca

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