Canadian Oil Sands Limited is a Canada-based company. The Company provides investment opportunity in the oil sands through its 36.74% interest in the Syncrude Project. The Company is the joint venture owner of the Syncrude Joint Venture (Syncrude), a producer of low sulphur, light, synthetic crude oil (SCO). The Syncrude Project is located near Fort McMurray, Alberta and is consists of oil sands mines, utilities plants, bitumen extraction plants and an upgrading complex that processes bitumen into SCO. Syncrude Canada Ltd. (Syncrude Canada) is the operator of the Syncrude. During the year ended December 31, 2011, Canadian Oil Sands estimates Syncrude�s proved plus probable reserves at 4.8 billion barrels (1.8 billion barrels net to the Company), best estimate contingent resources at 5.2 billion barrels (1.9 billion barrels net to the Company) and best estimate prospective resources at 1.6 billion barrels (0.6 billion barrels net to the Company).