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  Exhibit 4.7    
    









 








































 SUPPLEMENTARY OIL AND GAS DISCLOSURES (unaudited) 


        The
following disclosures are presented in accordance with United States Financial Accounting Standards Board ("FASB") Topic
932 — "Extractive Activities — Oil and Gas" and Subpart 1200 of Regulation S-K ("Subpart 1200")
promulgated by the United States Securities and Exchange Commission. Disclosures pertaining to the audited consolidated financial statements as at and for the year ended December 31,
2013 (the "2013 Financial Statements") of Suncor Energy Inc. ("Suncor" or the "Company") were prepared in accordance with International Financial Reporting Standards as issued by the
International Accounting Standards Board and Canadian generally accepted accounting principles contained within Part 1 of the Chartered Professional Accountants Canada Handbook, which differ in
material respects from financial statements prepared in accordance with United States generally accepted accounting principles. The 2013 Financial Statements are attached as Exhibit 99.1
to Suncor's annual report on Form 40-F for the year ended December 31, 2013 (the "Form 40-F"). 



 Reserves Data  


        Reserve estimates included herein are estimates only and can be significantly impacted by a variety of internal and external factors.
For more information, see the discussion in the "Statement of Reserves Data and Other Oil and Gas Information — Significant Factors or
Uncertainties Affecting Reserves Data" section in Suncor's 2013 Annual Information Form (the "2013 AIF"), which is contained in the Form 40-F. For more information as to the risks
involved when estimating reserves, see "Risk Factors — Uncertainty of Reserves and Resources Estimates" in the 2013 AIF. Readers should also see Suncor's
Management's Discussion and Analysis for the year ended December 31, 2013, which is attached as Exhibit 99.2 to the Form 40-F (the "2013 Management's Discussion
and Analysis"). 


        The
reserve data presented herein may differ in relation to the format and the basis from which volumes are economically determined under Subpart 1200 and National
Instrument 51-101 — "Standards of Disclosure of Oil and Gas Activities" ("NI 51-101"), as disclosed in the 2013 AIF. Subpart 1200 requires
disclosure of net proved reserves, after royalties, using the average of the first-day-of-the-month prices for the twelve month period prior to the end of the reporting period, whereas
NI 51-101 requires disclosure of gross and net reserves, estimated using forecast prices and costs. 


 Net Proved Oil and Gas Reserves(1)(2) 



        The
majority of Suncor's oil and gas reserves are in Canada. In order to align with the Company's segmented information in the 2013 Financial Statements, the
2013 Management's Discussion and Analysis and the 2013 AIF, the Company presents the following supplementary oil and gas disclosures by showing amounts associated with its Oil Sands operations, which
are exclusively in Canada and produce synthetic crude oil ("SCO") and bitumen, separate from other Canadian operations, which are aggregated with Suncor's international operations (collectively,
"Exploration and Production") and produce crude oil, natural gas and natural gas liquids ("NGLs"). 


1







 

        The
2013 AIF, 2013 Financial Statements and the 2013 Management's Discussion and Analysis are available under the Company's profile on the System for Electronic Document Analysis and
Retrieval, which can be accessed at www.sedar.com. 

 






																																
	 
	 	SCO
	 	Bitumen
	 	Crude Oil and NGLs(3)
	 	Natural Gas
	 	Total
	 
	At December 31,
	 	(mmbbls)
	 	(mmbbls)
	 	(mmbbls)
	 	(bcf)
	 	(mmboe)
	 
	(net reserves, constant prices and costs)



 
	 	2013 	 	2012 	 	2013 	 	2012 	 	2013 	 	2012 	 	2013 	 	2012 	 	2013 	 	2012 	 
	 Proved Developed
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil Sands
	 	 	1 804	 	 	1 873	 	 	153	 	 	164	 	 	—	 	 	—	 	 	—	 	 	—	 	 	1 957	 	 	2 037	 
	 Exploration and Production
	 	 	—	 	 	—	 	 	—	 	 	—	 	 	171	 	 	196	 	 	38	 	 	539	 	 	177	 	 	286	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	1 804	 	 	1 873	 	 	153	 	 	164	 	 	171	 	 	196	 	 	38	 	 	539	 	 	2 134	 	 	2 323	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Proved Undeveloped
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil Sands
	 	 	516	 	 	460	 	 	1 566	 	 	721	 	 	—	 	 	—	 	 	—	 	 	—	 	 	2 082	 	 	1 180	 
	 Exploration and Production
	 	 	—	 	 	—	 	 	—	 	 	—	 	 	46	 	 	55	 	 	6	 	 	7	 	 	47	 	 	57	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	516	 	 	460	 	 	1 566	 	 	721	 	 	46	 	 	55	 	 	6	 	 	7	 	 	2 129	 	 	1 237	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Proved
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil Sands
	 	 	2 320	 	 	2 333	 	 	1 719	 	 	885	 	 	—	 	 	—	 	 	—	 	 	—	 	 	4 040	 	 	3 217	 
	 Exploration and Production
	 	 	—	 	 	—	 	 	—	 	 	—	 	 	216	 	 	251	 	 	44	 	 	546	 	 	223	 	 	343	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	2 320	 	 	2 333	 	 	1 719	 	 	885	 	 	216	 	 	251	 	 	44	 	 	546	 	 	4 263	 	 	3 560	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




 

  Reconciliation of Net Proved Oil and Gas Reserves  

 






																										
	(net reserves,

constant prices and costs)



 
	 	Balance

December 31

2011 	 	Revisions of

Previous

Estimates 	 	Improved

Recovery 	 	Acquisitions 	 	Extensions

and

Discoveries 	 	Production 	 	Dispositions 	 	Balance

December 31

2012 	 
	 Oil Sands
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 SCO (mmbbls)
	 	 	2 359	 	 	(6	)	 	1	 	 	—	 	 	88	 	 	(109	)	 	—	 	 	2 333	 
	 Bitumen (mmbbls)
	 	 	624	 	 	175	 	 	1	 	 	—	 	 	101	 	 	(16	)	 	—	 	 	885	 
	 Exploration and Production
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Crude oil and NGLs(3) (mmbbls)
	 	 	270	 	 	19	 	 	—	 	 	—	 	 	1	 	 	(37	)	 	—	 	 	251	 
	 Natural gas (bcf)
	 	 	871	 	 	(243	)	 	—	 	 	—	 	 	7	 	 	(89	)	 	—	 	 	546	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total
	 	 	3 398	 	 	146	 	 	2	 	 	—	 	 	191	 	 	(178	)	 	—	 	 	3 560	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




 

  


 






																										
	(net reserves,

constant prices and costs)



 
	 	Balance

December 31

2012 	 	Revisions of

Previous

Estimates 	 	Improved

Recovery 	 	Acquisitions 	 	Extensions

and

Discoveries 	 	Production 	 	Dispositions 	 	Balance

December 31

2013 	 
	 Oil Sands
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 SCO (mmbbls)
	 	 	2 333	 	 	30	 	 	1	 	 	—	 	 	69	 	 	(112	)	 	—	 	 	2 320	 
	 Bitumen (mmbbls)
	 	 	885	 	 	1	 	 	1	 	 	—	 	 	856	 	 	(23	)	 	—	 	 	1 719	 
	 Exploration and Production
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Crude oil and NGLs(3) (mmbbls)
	 	 	251	 	 	12	 	 	—	 	 	—	 	 	2	 	 	(37	)	 	(12	)	 	216	 
	 Natural gas (bcf)
	 	 	546	 	 	10	 	 	—	 	 	—	 	 	6	 	 	(61	)	 	(457	)	 	44	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total
	 	 	3 560	 	 	45	 	 	2	 	 	—	 	 	928	 	 	(182	)	 	(89	)	 	4 263	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 




 


 Notes to Reserve Data:


	(1)
	Definitions



	a.
	Net
reserves, in relation to Suncor's production and reserves, represents the Company's working interest (operated and non-operated) share after deduction of
royalty obligations, plus the Company's royalty interests in production and reserves. 





 

 2







 
 
 
	b.
	Proved
oil and gas reserves are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable
certainty to be economically producible, from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government regulations.



	c.
	Proved
developed oil and gas reserves are those quantities that can be expected to be recovered through existing wells with existing equipment and operating
methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and can be expected to be recovered through extraction equipment and infrastructure
installed and operational at the time of the reserves estimate for projects that extract oil and gas by means not involving a well.



	d.
	Proved
undeveloped oil and gas reserves are those quantities that are expected to be recovered from new wells on undrilled acreage, or from existing wells
where a relatively major expenditure is required for recompletion.






	(2)
	Reserve
data tables may not add due to rounding.



	(3)
	Natural
gas liquids reserves are not significant and have been presented in combination with Crude Oil reserves. 


 

  Capitalized Costs  

 






																				
	 
	 	At December 31, 2013 	 	At December 31, 2012 	 
	($ millions)



 
	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 
	 Exploration and evaluation assets(1)
	 	 	2 040	 	 	732	 	 	2 772	 	 	2 565	 	 	719	 	 	3 284	 
	 Oil and gas properties(2)
	 	 	10 770	 	 	14 753	 	 	25 523	 	 	9 060	 	 	15 394	 	 	24 454	 
	 Plant and equipment(2)
	 	 	41 357	 	 	907	 	 	42 264	 	 	38 277	 	 	942	 	 	39 219	 
	 — accumulated provision(2)
	 	 	(12 124	)	 	(6 704	)	 	(18 828	)	 	(10 440	)	 	(5 691	)	 	(16 131	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total
	 	 	42 043	 	 	9 688	 	 	51 731	 	 	39 462	 	 	11 364	 	 	50 826	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 









 


 	(1)
	Exploration
and evaluation assets largely represent amounts associated with unproved properties, but may include properties with proved reserves for which
Suncor's Board of Directors have not sanctioned development. See note 18 of the 2013 Financial Statements.



	(2)
	Oil
and Gas Properties, Plant and Equipment and the accumulated provision largely represent amounts associated with proved properties. See note 17 of
the 2013 Financial Statements. 


 

  Costs Incurred for Property Acquisition, Exploration and Development Activities  

 






																				
	 
	 	Year ended December 31, 2013 	 	Year ended December 31, 2012 	 
	($ millions)



 
	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 
	 Unproved property acquisition
	 	 	—	 	 	2	 	 	2	 	 	—	 	 	—	 	 	—	 
	 Proved property acquisition
	 	 	—	 	 	—	 	 	—	 	 	—	 	 	—	 	 	—	 
	 Exploration(1)
	 	 	196	 	 	308	 	 	504	 	 	185	 	 	250	 	 	435	 
	 Development(2)
	 	 	4 322	 	 	1 247	 	 	5 569	 	 	4 983	 	 	1 235	 	 	6 218	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total
	 	 	4 518	 	 	1 557	 	 	6 075	 	 	5 168	 	 	1 485	 	 	6 653	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 









 


 	(1)
	Includes
amounts capitalized to Exploration and Evaluation as well as those charged to Exploration Expense on the Consolidated Balance Sheet and the
Consolidated Statements of Comprehensive Income, respectively, of the 2013 Financial Statements.



	(2)
	Includes
amounts capitalized to Property, Plant and Equipment on the Consolidated Balance Sheet of the 2013 Financial Statements that relate to the
Company's decommissioning and restoration activities. 


 

 3







 


 Results of Operations for Oil- and Gas-Producing Activities  


        The Results of Operations are contained within the segmented results of the Company's Oil and Gas Producing Activities presented below. 

 






																				
	 
	 	At December 31, 2013 	 	At December 31, 2012 	 
	($ millions)



 
	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 
	 Operating revenues, net of royalties
	 	 	12 230	 	 	5 217	 	 	17 447	 	 	10 818	 	 	4 845	 	 	15 663	 
	 Other Income
	 	 	64	 	 	381	 	 	445	 	 	20	 	 	71	 	 	91	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	12 294	 	 	5 598	 	 	17 892	 	 	10 838	 	 	4 916	 	 	15 754	 
	 Purchases of crude oil and products
	 	 	460	 	 	568	 	 	1 028	 	 	211	 	 	444	 	 	655	 
	 Operating, selling and general
	 	 	5 837	 	 	676	 	 	6 513	 	 	5 365	 	 	795	 	 	6 160	 
	 Transportation
	 	 	482	 	 	127	 	 	609	 	 	337	 	 	182	 	 	519	 
	 Depreciation, depletion, amortization and impairment
	 	 	2 439	 	 	1 804	 	 	4 243	 	 	3 964	 	 	1 857	 	 	5 821	 
	 Exploration
	 	 	115	 	 	207	 	 	322	 	 	71	 	 	238	 	 	309	 
	 Gain on disposal of assets
	 	 	—	 	 	(130	)	 	(130	)	 	(29	)	 	(1	)	 	(30	)
	 Project start-up costs
	 	 	15	 	 	—	 	 	15	 	 	57	 	 	—	 	 	57	 
	 Voyageur upgrader project charges
	 	 	82	 	 	—	 	 	82	 	 	—	 	 	—	 	 	—	 
	 Finance expenses
	 	 	135	 	 	33	 	 	168	 	 	127	 	 	81	 	 	208	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Earnings before Income Taxes
	 	 	2 729	 	 	2 313	 	 	5 042	 	 	735	 	 	1 320	 	 	2 055	 
	 Income taxes
	 	 	689	 	 	1 313	 	 	2 002	 	 	267	 	 	1 182	 	 	1 449	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Net Earnings
	 	 	2 040	 	 	1 000	 	 	3 040	 	 	468	 	 	138	 	 	606	 




 

  Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves  


        The standardized measure of discounted future net cash flows relating to Suncor's proved oil and gas reserves are calculated in
accordance with FASB Topic 932 — "Extractive Activities — Oil and Gas". Future cash inflows are estimated using the
twelve-month average price, which are also used in estimating the entity's proved oil and gas reserves. Future development and production costs, including the associated decommissioning and
restoration activities, are calculated by estimating the expenditures to be incurred in developing and producing the proved oil and gas reserves at the end of the year, based on year-end costs and
assuming continuation of existing economic conditions. The appropriate year-end statutory tax rates, with consideration of future tax rates already legislated, were applied to the future pretax net
cash flows, less the tax basis of the properties involved. A prescribed rate of 10% is applied to discount the future net cash flows. 


        The
calculation of the standardized measure of discounted future net cash flows is based upon information prepared by the Company's independent qualified reserves evaluators, and
adjusted for decommissioning and restoration activities and future income taxes. 



        It
should not be assumed that the estimates of future net cash flows presented in the tables below represent the fair market value of the reserves. There is no assurance that the price
and cost assumptions will be attained and variances could be material. Future changes to income tax, royalty and environmental regulations could also have a significant impact on the respective
assumptions. There is no guarantee that the estimates for SCO, bitumen, crude oil and NGLs, and natural gas reserves provided herein will be recovered. Actual SCO, bitumen, crude oil and NGLs, and
natural gas reserves may be greater than or less than the estimates provided herein. 


4







 

        The
following twelve-month average prices were used to calculate the standardized measure of discounted future net cash flows: 

 






																										
	 
	 	Brent

North Sea 	 	WTI

Cushing

Oklahoma 	 	WCS

Hardisty

Alberta 	 	Light

Sweet

Edmonton

Alberta 	 	Pentanes Plus

Edmonton

Alberta 	 	AECO

Gas 	 	B.C. Gas

Westcoast

Station 2 	 	National

Balancing

Point

North Sea 	 
	Year
	 	US$/bbl
	 	US$/bbl
	 	Cdn$/bbl
	 	Cdn$/bbl
	 	Cdn$/bbl
	 	Cdn$/mmbtu
	 	Cdn$/mmbtu
	 	Cdn$/mmbtu
	 
	 2013
	 	 	109.05	 	 	96.90	 	 	73.66	 	 	91.50	 	 	103.39	 	 	3.10	 	 	3.06	 	 	10.74	 
	 2012
	 	 	111.96	 	 	94.71	 	 	72.83	 	 	87.50	 	 	102.42	 	 	2.33	 	 	2.26	 	 	9.35	 




 

  


 






																				
	 
	 	At December 31, 2013 	 	At December 31, 2012 	 
	($ millions)



 
	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 	Oil Sands 	 	Exploration

and

Production 	 	Total 	 
	 Future cash inflows
	 	 	297 638	 	 	24 014	 	 	321 652	 	 	243 856	 	 	29 116	 	 	272 972	 
	 Future production costs
	 	 	(146 172	)	 	(4 925	)	 	(151 097	)	 	(115 805	)	 	(6 769	)	 	(122 574	)
	 Future development costs
	 	 	(76 042	)	 	(2 508	)	 	(78 550	)	 	(64 192	)	 	(3 652	)	 	(67 844	)
	 Future income tax expenses
	 	 	(16 649	)	 	(11 486	)	 	(28 135	)	 	(13 988	)	 	(10 477	)	 	(24 465	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Future net cash flows
	 	 	58 775	 	 	5 095	 	 	63 870	 	 	49 871	 	 	8 218	 	 	58 089	 
	 Annual 10% Discount Factor
	 	 	(38 402	)	 	(1 085	)	 	(39 487	)	 	(30 760	)	 	(2 237	)	 	(32 997	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Standardized measure of discounted future net cash flows
	 	 	20 373	 	 	4 010	 	 	24 383	 	 	19 111	 	 	5 981	 	 	25 092	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 




 

  Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves  

 






								
	($ millions)



 
	 	2013 	 	2012 	 
	 Standardized measure of discounted future net cash flows — beginning of year
	 	 	25 092	 	 	34 301	 
	 Sales and transfers of oil and gas produced
	 	 	(8 463	)	 	(9 055	)
	 Net change in sales prices and operating costs related to future production
	 	 	2 193	 	 	(15 031	)
	 Net change due to extensions, discoveries and improved recovery
	 	 	(38	)	 	2 643	 
	 Net change due to acquisitions and dispositions
	 	 	(888	)	 	33	 
	 Net change due to revisions in quantity estimates
	 	 	999	 	 	1 949	 
	 Previously estimated development costs incurred during the period
	 	 	4 363	 	 	4 351	 
	 Changes in estimated future development costs
	 	 	(1 743	)	 	(229	)
	 Accretion of discount
	 	 	2 180	 	 	3 286	 
	 Net change in income taxes
	 	 	688	 	 	2 844	 
	 	 	 	 	 	 
	 Standardized measure of discounted future net cash flows — end of year
	 	 	24 383	 	 	25 092	 
	 	 	 	 	 	 




 

 5











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Exhibit 4.7