The Financial Post reports in its Saturday edition that Suncor has signed a memorandum of understanding with the Fort McKay First Nation on a prospective oil-sands lease development opportunity on reserve lands. A Canadian Press dispatch to the Post says that Suncor, with the Fort McKay First Nation, announced Thursday that they had struck the memorandum of understanding. Suncor said it is in the process of conducting early-stage technical and commercial feasibility assessments to determine the quality and quantity of minable bitumen ore in the area, which is located within the Regional Municipality of Wood Buffalo in Northern Alberta and on the Fort McKay First Nation's traditional territory. "Any resource extraction from this lease would be a first," Suncor's Peter Zebedee told Canadian Press, adding that the agreement ensures the first nation will be in charge of governing oil-sands activity on the reserve as well as having the opportunity to financially benefit from it. "It's a real example of Fort McKay having a significant say in responsible resource development and how we build these resources ultimately to fruition, but also having a significant share and sharing in the benefits of this resource extraction."