Brian C. FergusonThanks, Susan. Good morning. I'm pleased to report another solid quarter from the Cenovus team. We continue to deliver predictable, reliable oil growth and benefit from our integrated oil operations. We remain focused on building net asset value. This quarter we achieved a number of operational milestones. When you look at our second quarter results, you will see continued strong execution of our 10-year plan. In particular, you will note that despite substantially lower realized oil and gas prices in the quarter, our cash flow is essentially unchanged year-over-year. Our oil growth strategy is delivering, and this, combined with our downstream integration, is providing solid financial performance. John and Ivor will provide a more in-depth review of our operating and financial results, but I want to reiterate that our 2012 plans are unchanged. Our low-cost oil sands project, our strong balance sheet, our flexible conventional capital programs and our downstream integration allow us to be resilient in times of commodity price volatility.
Cenovus Energy Management Discusses Q2 2012 Results - Earnings Call Transcript
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