Advisory: Petro-Canada Q1 2009 Results

  Petro-Canada will host a conference call for analysts and investors on Tuesday, April 28, 2009 at 7:00 a.m. Mountain time (9:00 a.m. Eastern time) to discuss first quarter results, which will be released on April 28, 2009. The media will be invited to ask questions following the analysts and investors. If you are unable to join us on April 28, a postview of the conference call will be available until July 24, 2009.

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

Conference Call Host:  Ken Hall, Sr. Director, Investor Relations

Date:                  April 28, 2009

Time:                  7:00 a.m. Mountain time (9:00 a.m. Eastern time)

Telephone:             Analysts & Investors - 1-800-769-8320 (Toll-free
                       North America), 00-800-4222-8835 (Toll-free
                       International) or 416-695-6622

                       Media - 1-800-952-4972 (Toll-free North America);
                       or 416-695-7848

Audio Webcast:         http://www.petro-canada.ca/en/investors/845.aspx

Postview:              A postview of the audio webcast will be available one
                       hour after the conclusion of the conference call and
                       will be accessible until July 24, 2009 by calling
                       1-800-408-3053 (North America) or 416-695-5800; pass
                       code: 4003670#

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and 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.

Contacts: Media and general inquiries: Andrea Ranson, Corporate Communications Petro-Canada, Calgary [phone] Email: [e-mail] Investor and analyst inquiries: Ken Hall, Investor Relations Petro-Canada, Calgary [phone] Email: [e-mail] Lisa McMahon, Investor Relations Petro-Canada, Calgary [phone] Email: [e-mail]