The Management’s Discussion and Analysis (MD&A) highlights the
primary factors that impacted the operations and financial results of SaskEnergy
Incorporated (SaskEnergy or the Corporation) and its wholly owned subsidiaries for
the year ended December 31, 2007. Using financial and operating results as its
basis, the MD&A describes the Corporation’s past performance and future prospects.
This style of reporting enables readers to view SaskEnergy from the perspective of management.
This MD&A, together with the 2007 audited consolidated financial
statements of the Corporation and related notes, form the basis for financial reporting.
The following discussion contains certain forward-looking statements that are
subject to inherent uncertainties and risks. Risks are outlined in the Risk Management
section of this MD&A. Consequently, actual results and events may vary significantly from
those included in, contemplated or implied by such statements.
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