stockmarketcats.com - Stock Market Forum Message Board, Penny Stock Picks & Discussions

Sponsers

Donations accepted to help with server fees and other expenses. Thank you!
Register at Stock Market Cats

Canadian Stocks & Global Securities Discuss CLL.TO Connacher Oil and Gas Limited in the Stock Market Forum forums; www.connacheroil.com Alberta oil sand play curent stock price $4.05 CAD Anyone else follow this stock? There is news out today CONNACHER REPORTS SIGNIFICANT RESERVE INCREASES DURING FIRST ...

Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 07-10-2007, 07:24 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default CLL.TO Connacher Oil and Gas Limited

www.connacheroil.com

Alberta oil sand play curent stock price $4.05 CAD

Anyone else follow this stock?

There is news out today



CONNACHER REPORTS SIGNIFICANT RESERVE INCREASES DURING FIRST HALF 2007; BITUMEN
RESERVES AND RESOURCES UP IN ALL CATEGORIES; 2P BITUMEN RESERVES UP 111 PERCENT TO
178 MILLION BARRELS; 3P BITUMEN RESERVES UP 120 PERCENT TO 242 MILLION BARRELS; 2P
RESERVES PLUS BEST ESTIMATE TOTAL RESOURCES UP 60 PERCENT TO 417 MILLION BARRELS;
3P RESERVES PLUS HIGH ESTIMATE TOTAL RESOURCES CLOSE TO 800 MILLION BARRELS

http://www.connacheroil.com/document...2007-07-10.pdf
Reply With Quote
  #2  
Old 08-02-2007, 07:16 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

news out

Last Price: 4.060 Change: +0.010 Volume: 755


PRESS RELEASE August 2, 2007
Connacher to Commission Great Divide Pod One SAGD
Oil Sands Processing Plant
Calgary, Alberta
On Friday, August 10th, 2007, Connacher Oil and Gas Limited (CLL-TSX) will celebrate the completion of
construction at “Pod One”, a 10,000 barrel-a-day oil sands processing plant at its Great Divide project, located
approximately 80 kilometers south of Fort McMurray on Highway 63.
Joining company executives and its Board of Directors at the official on-site commissioning will be representatives
from government, the investment community, service providers and company employees.
“It’s a Plant Commissioning Celebration.,” says President and Chief Executive Officer, Richard Gusella. “Any
time a small Canadian-owned company can complete a $290 million dollar project that’s going to produce 10,000
barrels-a-day for 25 years with about 100 million barrels coming out of the ground, it’s cause for celebration.”
Unique Oil Sands Positioning
Connacher’s oil sands plan began in 2004 with its purchase of oil sands leases just south of Fort McMurray. The
plant commissioning represents more than a typical oil sands startup.
Despite Connacher’s significant growth as a company from under $1 million to over $1 billion in enterprise value in
the past six years, “We’re ‘a little guy’ in the oil sands,” Gusella explains. “You don’t have to be a giant resource
company to be a successful player here. If a smaller company has a focused business plan, dedicated, talented
employees and an exciting vision, it can play in the big boys’ game and target an excellent return for its
shareholders.”
From a 2001 start with only 50 bbl/d of foreign production, Connacher now owns broadly-based and diversified
assets, including its extensive and considerable oil sands reserves, resources and undeveloped leases, a 2,500 boe/d
conventional production base in western Canada, a valuable $250 million equity stake in Petrolifera Petroleum
(active in South America) and an operating 9,500 barrel-a-day refinery in Great Falls, Montana. These assets are all
important elements of Connacher’s integrated approach to managing the operating and financial risks associated
with the oil sands.
SAGD Operation
The Great Divide Pod One plant constitutes a significant part of the $290 million invested to date in the company’s
initial Steam Assisted Gravity Drainage (SAGD) operation. The facility is designed to generate the steam to be
injected into the nearby reservoir to free up the bitumen.
The original water supply for the steam is from the subsurface and is non-potable. Connacher will treat this water,
make steam and inject it into the subsurface. A mixture of hot oil and hot water will then flow to the surface. Inside
the plant, the two components are separated. Oil is prepared for blending and transport. The recovered water is
purified and recycled for repeated use in the plant’s steam generators. The water recycle rate is targeted at 98%.
Pod One Just the Beginning
“We’re not here just to build one oil sands plant,” Gusella says. “We anticipate expanding our oil sands operation in
the longer term.” The company has already begun the application process for regulatory approval to proceed with
its second 10,000 barrel-a-day project, to be located ten kilometers east of Pod One at Algar. “It’s also our intention
to build a $100 million pipeline to take our oil from our area down to the nearest connections,” Gusella says. “It’ll
eventually handle about 50,000 barrels a day, our stated objective over the next five to seven years, as well as
approximately 20,000 barrels-a-day of diluent in a parallel line. Lockstep, we are also planning to expand our
refining capacity. This would be consistent with the company’s integrated approach to oil sands development and
its emphasis on reliability, expandability, repeatability, sustainability and the efficiencies of smaller scale modular
operations.”
Connacher Oil and Gas Limited is a Calgary-based Canadian oil and natural gas exploration, development and
production company. The company’s principal assets are its significant bitumen reserves and resources and its 100
percent interest in approximately 95,000 acres of oil sands leases in the Great Divide region near Fort McMurray,
Alberta. It also owns conventional production and reserves at Marten Creek and Three Hills, Alberta and at
Battrum, Saskatchewan. Connacher’s 26 percent equity stake in Petrolifera Petroleum Limited (PDP – TSX) has a
current market value exceeding $250 million. Petrolifera has interests in Argentina, Peru and Colombia. Connacher
also owns a profitable 9,500 bbl/d oil refinery in Great Falls, Montana, acquired as part of the company’s integrated
oil sands strategy.
Forward-Looking Statements: this news release contains certain “forward-looking statements” within the meaning of such statements under
applicable securities law including: anticipated bitumen recovery, the life of Pod One and the planned development of the Algar Project.
Forward-looking statements are frequently characterized by words such as “plan”, expect”, “project”, “intend”, “believe”, anticipate”,
estimate”, “may”, “will”, “potential”, “proposed’ and other similar words, or statements that certain events or conditions” may” or “will”
occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the
exploration and development of oil sands properties, the uncertainties involved in interpreting drilling results and other geological data,
fluctuating oil prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability
and costs of financing needed to the future and other expenses, uncertainties relating to the availability and costs of financing needed in the
future and other factors including unforeseen delays. As an oil sands enterprise in the development stage, Connacher faces risks including
those associated with exploration, development, approvals and the ability to access sufficient capital from external sources. Development of
the Algar Project is subject to the receipt of all necessary regulatory and stakeholder approvals, the timing of which is uncertain.
Additionally, such approvals may impose conditions which may or may not be acceptable to Connacher. For a description of the risks and
uncertainties facing Connacher and its business and affairs, readers should refer to Connacher’s Annual Information Form for the year
ended December 31, 2006. Connacher undertakes no obligation to update forward-looking statements if circumstances or management’s
estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking
statements. Readers are also cautioned that the conversion used in calculating barrels of oil equivalent (6 mcf:1 barrel) is based on an
energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Furthermore, boes may be misleading if used in isolation.
For more information, contact:
Richard Gusella
President and Chief Executive Officer
Connacher Oil and Gas Limited
Phone (403) 538-6201 Fax 538-6225
www.connacheroil.com inquiries@connacheroil.com
Suite 2600, Watermark Tower
530 – 8th Avenue S.W.
Calgary, Alberta T2P 3S8
Telephone: (403) 538-6201 Facsimile: (403) 538-6225
Reply With Quote
  #3  
Old 08-16-2007, 03:08 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

good buying oportunity. Soon to be producer.

Price: $3.34
Reply With Quote
  #4  
Old 09-17-2007, 05:03 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

curent share price : $4.09

CALGARY, Sept. 17 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX)
announces today that it has commenced the sequential injection of steam into
the fifteen steam-assisted gravity drainage ("SAGD") well pairs at Great
Divide Pod One, the company's first 10,000 barrels per day oil sands project
located approximately 50 miles south of Fort McMurray, Alberta.
The company has now completed the full commissioning of its processing
and steam generating plant. As planned, this was a thirty day process that
occurred without any major complications. Concurrently, all of the company's
fifteen SAGD well pairs were prepared to accept steam and circulation of steam
in the injector and producer well bores is accordingly underway.
Connacher plans to steam the wells for approximately ninety days prior to
the planned startup of production. The process will be closely monitored to
determine the optimum startup date based on individual well response.
"This is a defining moment for Connacher," said Richard Gusella,
President and Chief Executive Officer. "With the startup of steaming, we have
fulfilled our undertaking to our shareholders, lenders and other stakeholders.
In less than four years, a very short period of time for the oil sands, we
transformed undeveloped acreage into an operating facility that should shortly
see ramped up production, resulting in significant growth to our revenue, cash
flow and earnings. We are already looking ahead to our second 10,000 barrels
per day oil sands project at Algar (the "Algar Project"), which awaits
regulatory approval. We will continue to systematically evaluate our
considerable, well-positioned acreage in the Divide region which we believe
can provide the basis for sustained and considerable future growth for our
company."
Peter Sametz, Executive Vice President and Chief Operating Officer,
stated "We are rightly proud of our accomplishment with the startup of
steaming at Great Divide Pod One. Congratulations are extended to our
management and staff, our consultants, advisors and staff who comprised the
construction and commissioning team, to the service sector and to the trades
who supported our initiatives. Our state of the art facility can process
bitumen, generate steam, clean up and recycle water and house our permanent
staff. It was constructed and placed in operation in record time and our next
milestone will be to start producing bitumen for sale into the market.
Thereafter, we hope to ramp up to capacity at 10,000 barrels per day as
expeditiously as possible. This will result in long-life sustainable revenue
and cash flow for Connacher, given our solid reserve backing. As the facility
is turned over to our permanent operating personnel, we look forward to the
future with confidence and with the expectation of a smooth transition from
the construction phase."

Connacher Oil and Gas Limited is a Calgary-based crude and natural gas
exploration, development and production company. The company's principal asset
is its extensive reserve, resource and acreage position in the oil sands of
Alberta. In addition, Connacher owns considerable conventional resources in
the Marten Creek, Three Hills and Battrum regions of western Canada; owns and
operates a 9,500 barrel per day refinery in Great Falls, Montana and maintains
a valuable 26 percent equity stake in Petrolifera Petroleum Limited (PDP -
TSX), a public company active in Argentina, Colombia and Peru in South
America.

Forward-Looking Statements: This news release contains certain
"forward-looking statements" within the meaning of such statements under
applicable securities law including: anticipated bitumen recovery, anticipated
bitumen production rates, the planned transition from construction to
operations at Great Divide Pod One and the planned development of the Algar
Project. Forward-looking statements are frequently characterized by words such
as "plan", expect", "project", "intend", "believe", anticipate", estimate",
"may", "will", "potential", "proposed' and other similar words, or statements
that certain events or conditions" may" or "will" occur. These statements are
only predictions. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks involved
in the exploration and development of oil sands properties, the uncertainties
involved in interpreting drilling results and other geological data,
fluctuating oil prices, the possibility of project cost overruns or
unanticipated costs and expenses, uncertainties relating to the availability
and costs of financing needed in the future and other factors including
unforeseen delays. As an oil sands enterprise in the development stage,
Connacher faces risks including those associated with exploration,
development, start-up, approvals and the ability to access sufficient capital
from external sources. Development of the Algar Project is subject to the
receipt of all necessary regulatory and stakeholder approvals, the timing of
which is uncertain. Additionally, such approvals may impose conditions which
may or may not be acceptable to Connacher. For a description of the risks and
uncertainties facing Connacher and its business and affairs, readers should
refer to Connacher's Annual Information Form for the year ended December 31,
2006. Connacher undertakes no obligation to update forward-looking statements
if circumstances or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue reliance on
forward-looking statements.




For further information: Richard Gusella, President and Chief Executive
Officer, Connacher Oil and Gas Limited, Phone (403) 538-6201, Fax (403)
538-6225, www.connacheroil.com, inquiries@connacheroil.com;
Reply With Quote
  #5  
Old 10-15-2007, 06:00 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

Calgary, Alberta – Connacher Oil and Gas Limited (CLL-TSX) announces today that it has successfully commenced steam injection
on all fifteen steam-assisted gravity drainage ("SAGD") well pairs at Great Divide Pod One, the company's first 10,000 barrel per day
oil sands project located approximately 50 miles south of Fort McMurray, Alberta. The company met its timeline in achieving steam
injection in all 30 wells (15 well pairs).
The well pairs are located on two “pads” or large wellsites, which include not only wellheads but gathering, measurement and
monitoring equipment, all of which is fully functional and operating. Initial downhole monitoring suggests that heating of the
reservoir has started as planned. The company will continue circulating steam into both horizontal injection wells and horizontal
producer wells into December 2007, which is intended to result in even heating of the bitumen and the reservoir along all wellbores.
At that time, the horizontal producing wells will be converted to full time production and the intended bitumen ramp up to 10,000
barrels per day will commence.
This pre-heating or steam circulation phase is necessary to enhance the likelihood that each well pair achieves maximum productivity
and recovery of bitumen over time. Both this well steaming operation and the earlier plant commissioning operations have gone
exceptionally well, with little in the way of upsets; allowing the company to continue to meet its previously established schedule.
Connacher Oil and Gas Limited is a Calgary-based Canadian oil and natural gas exploration, development and production company.
The company’s principal assets are its significant bitumen reserves and resources and its 100 percent interest in approximately 95,000
acres of oil sands leases in the Great Divide region near Fort McMurray, Alberta. It also owns conventional production and reserves
at Marten Creek and Three Hills, Alberta and at Battrum, Saskatchewan. Connacher owns and operates a 9,500 barrel per day
refinery in Great Falls, Montana and maintains a valuable 26 percent equity stake in Petrolifera Petroleum Limited (PDP – TSX), a
public company active in Argentina, Colombia and Peru in South America.
Forward-Looking Statements: This news release contains certain “forward-looking statements” within the meaning of such statements under
applicable securities law including: anticipated bitumen production rates and the timeline for first production at Great Divide Pod One. Forwardlooking
statements are frequently characterized by words such as “plan”, expect”, “project”, “intend”, “believe”, anticipate”, estimate”, “may”,
“will”, “potential”, “proposed’ and other similar words, or statements that certain events or conditions” may” or “will” occur. These statements
are only predictions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected
in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of oil sands properties,
difficulties or delays in start-up operations, the uncertainties involved in interpreting drilling results and other geological data, fluctuating oil
prices, the possibility of unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and
other factors including unforeseen delays. As an oil sands enterprise in the development stage, Connacher faces risks including those associated
with exploration, development, start-up, approvals and the ability to access sufficient capital from external sources. For a description of the risks
and uncertainties facing Connacher and its business and affairs, readers should refer to Connacher’s Annual Information Form for the year ended
December 31, 2006. Connacher undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or
opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information, contact:
Richard A. Gusella
President and Chief Executive Officer
Connacher Oil and Gas Limited
Phone: (403) 538-6201
Fax: (403) 538-6225
www.connacheroil.com
inquiries@connacheroil.com
Suite 2600, Watermark Tower
530 – 8th Avenue S.W.
Calgary, Alberta T2P 3S8
Telephone: (403) 538-6201 Facsimile: (403) 538-6225
Reply With Quote
  #6  
Old 11-12-2007, 03:31 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

CONNACHER’S NINE MONTH CASH FLOW GROWS 45 PERCENT IN 2007; GREAT DIVIDE
POD ONE PLANT COMMISSIONED, STEAMING AND BITUMEN SALES UNDERWAY;
STRONG THIRD QUARTER AND YEAR TO DATE EARNINGS IN 2007


good oportunity to buy today

sp:$3.72
Reply With Quote
  #7  
Old 11-12-2007, 06:42 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

sp at closing: $3.66

do your own DD good oportunity at a low price.
Reply With Quote
  #8  
Old 11-13-2007, 12:54 PM
Therion's Avatar
october poster of the month
 
Join Date: Jul 2007
Location: Toronto, Ontario
Posts: 309
Therion is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

This stock tends to bounce off the RSI oversold indicator nicely so I'm watching it carefully. Could have a good move soon.
__________________
No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.

Buddha
Reply With Quote
  #9  
Old 12-19-2007, 04:47 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

under valued

sp: $3.44

Connacher Oil and Gas Limited announces commencement of first stage of full time production and injection at Great Divide

CALGARY, Dec. 19 /CNW/ - Connacher Oil and Gas Limited (CLL-TSX)
announces today that it has achieved another timely milestone in its ramp up
to 10,000 barrels per day of bitumen production with the conversion of the
first horizontal steam-assisted gravity drainage ("SAGD") well pair to full
time production/injection at its Great Divide Pod One SAGD project ("Pod
One"), located approximately 50 miles south of Fort McMurray, Alberta.
The project has been circulating steam into all 30 wells (15 well pairs)
as part of its approximately 90 day circulation and reservoir pre-heating
phase. The first well pair has demonstrated that the upper horizontal well is
ready to receive full time steam injection, while, as the reservoir continues
to heat up, the lower well will become a full-time producer. Over the next
several weeks, additional well pairs will be converted to full time
injection/production wells as the expected and targeted operating parameters
are met. This will continue into early first quarter 2008 until all well pairs
are converted to full-time steam injection and bitumen production. As
previously indicated, Connacher anticipates that Pod One production will ramp
up to 10,000 barrels per day of bitumen from all 15 well pairs later in 2008.
To date the company is very pleased with the reservoir performance in the
pre-heat or circulation phase, as it has essentially performed as anticipated.
The company continues to produce and recover small but significant amounts of
bitumen at surface in the circulation phase. This past week the project
averaged 400 barrels per day of bitumen production and on occasion bitumen has
been produced at rates of 600 barrels per day, indicating a positive response
from the application of steam to the reservoir This bitumen has been mixed
with diluent and the volumes were trucked to market and sold.

Connacher Oil and Gas Limited is a Calgary-based Canadian oil and natural
gas exploration, development and production company. The company's principal
assets are its significant bitumen reserves and resources and its 100 percent
interest in approximately 95,000 acres of oil sands leases in the Great Divide
region near Fort McMurray, Alberta. It also owns conventional production and
reserves at Marten Creek and Three Hills, Alberta and at Battrum,
Saskatchewan. Connacher owns and operates a 9,500 barrel per day refinery in
Great Falls, Montana and maintains a valuable 26 percent equity stake in
Petrolifera Petroleum Limited (PDP - TSX), a public company active in
Argentina, Colombia and Peru in South America.

Forward-Looking Statements: This news release contains certain
"forward-looking information" within the meaning of such statements under
applicable securities law including: anticipated bitumen production and sales
rates and the timeline for the achievement of anticipated production levels at
Great Divide Pod One. Forward-looking information is frequently characterized
by words such as "plan", expect", "project", "intend", "believe",
"anticipate", estimate", "may", "will", "potential", "proposed' and other
similar words, or statements that certain events or conditions" may" or "will"
occur. These statements are only predictions. Forward-looking information is
based on the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include the
inherent risks involved in the exploration and development of oil sands
properties, difficulties or delays in start-up operations, the uncertainties
involved in interpreting drilling results and other geological data,
fluctuating oil prices, the possibility of unanticipated costs and expenses,
uncertainties relating to the availability and costs of financing needed in
the future and other factors including unforeseen delays. As an oil sands
enterprise in the development stage, Connacher faces risks including those
associated with exploration, development, start-up, approvals and the
continuing ability to access sufficient capital from external sources if
required. Actual production levels at Great Divide Pod One and the timelines
associated therewith may vary from those anticipated in this news release and
such variations may be material. For a description of the risks and
uncertainties facing Connacher and its business and affairs, readers should
refer to Connacher's Annual Information Form for the year ended December 31,
2006. Connacher undertakes no obligation to update forward-looking statements
if circumstances or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue reliance on
forward-looking statements.




For further information: Richard A. Gusella, President and Chief
Executive Officer, Connacher Oil and Gas Limited, Phone: (403) 538-6201, Fax:
(403) 538-6225, www.connacheroil.com, inquiries@connacheroil.com
Reply With Quote
  #10  
Old 02-05-2008, 10:28 PM
Pink Sheet Stock
 
Join Date: Jul 2007
Posts: 26
Ruwedboy is on a distinguished road
Default Re: CLL Connacher Oil and Gas Limited

low share price $3.09

PRESS RELEASE January 23, 2008

CONNACHER’S PROJECTS ON TRACK

CALGARY - Connacher Oil and Gas Limited (CLL-TSX) announces today that it continues to hit and exceed
milestones for its projects this winter. The current financial market turmoil is not affecting Connacher's progress
or business activities.
At Great Divide, Connacher's SAGD project continues to meet and exceed milestones on its ramp up to 10,000
barrels per day of bitumen. For the month of January 2008, the company is anticipating sales of over 40,000
barrels of raw bitumen, which are approximately double the originally anticipated volumes for the month.
Production of raw bitumen has recently exceeded 2,000 barrels per day.
Seven well pairs have now been "flipped over" to SAGD production and consistent with the ramp up process, are
at various stages of contribution to total volumes as individual wells also undergo a ramp up process. Connacher's
operating staff has been handling the increased oil treating loads in an effective manner. Well pairs are converted
from circulation phase to SAGD production in a sequential disciplined manner, as reservoir temperature and
pressure constraints are met. The other components of the surface facilities continue to perform very well,
particularly the produced water treating system, utilizing evaporator technology and the boiler systems. As the
bitumen throughput continues to ramp up to full capacity and all the limits of the process are maximized, there
will be additional learning. However, the performance to date is indicative of good design and the competence of
the Great Divide operating staff.
The produced raw bitumen is blended with diluent and is trucked and sold into various markets. The logistics of
this trucking and marketing operation have also gone very well this month. As previously indicated, Connacher
anticipates that Pod One production will ramp up to 10,000 barrels per day of bitumen from all 15 well pairs later
in 2008.
Operations on Connacher's 120 well core hole, seismic delineation and 2008 exploration program for 2008 is
advancing favorably. Results of the program will be evaluated and interpreted over the next two quarters. On the
conventional side of the business the company has now drilled and cased five out of five gas wells in the Randall
area of its Marten Creek gas production area in northern Alberta. The six million cubic feet per day Randall gas
plant, gathering system and sales line is currently under construction and is targeted for completion at the end of
first quarter 2008. The Randall gas discoveries of last winter and the new Randall gas wells will be tied in to this
new plant.
Connacher Oil and Gas Limited is a Calgary-based Canadian oil and natural gas exploration, development and
production company. The company's principal assets are its significant bitumen reserves and resources and its 100
percent interest in approximately 95,000 acres of oil sands leases in the Great Divide region near Fort McMurray,
Alberta. It also owns conventional production and reserves at Marten Creek and Three Hills, Alberta and at
Battrum, Saskatchewan. Connacher owns and operates a 9,500 barrel per day refinery in Great Falls, Montana and
maintains a valuable 26 percent equity stake in Petrolifera Petroleum Limited (PDP - TSX), a public company
active in Argentina, Colombia and Peru in South America.
Forward-Looking Information: This press release contains certain "forward-looking information" under
applicable securities law including: anticipated bitumen production and sales rates and the timeline for the
achievement of anticipated production levels at Great Divide Pod One, Connacher's 2008 planned core hole
2
program and the anticipated timetable for completion of facilities and volumes of natural gas from the Randall
area.
Forward-looking information is frequently characterized by words such as "plan", expect", "project", "intend",
"believe", "anticipate", estimate", "may", "will", "potential", "proposed' and other similar words, or statements
that certain events or conditions" may" or "will" occur. These statements are only predictions. Forward-looking
information is based on the opinions and estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements. These factors include the inherent risks
involved in the exploration and development of oil sands properties, difficulties or delays in start-up operations,
the uncertainties involved in interpreting drilling results and other geological data, fluctuating oil prices, the
possibility of unanticipated costs and expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors including unforeseen delays. As an oil sands enterprise in the development
stage, Connacher faces risks including those associated with exploration, development, start-up, approvals and
the continuing ability to access sufficient capital from external sources if required. Actual production levels at
Great Divide Pod One and the timelines associated therewith may vary from those anticipated in this news
release and such variations may be material. The timeline for completion of the Randall gas plant, gathering
system and sales line are estimates only and may be delayed by factors outside of the control of Connacher such
as weather and access to services and required equipment. For a description of the risks and uncertainties facing
Connacher and its business and affairs, readers should refer to Connacher's Annual Information Form for the
year ended December 31, 2006. Connacher undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change, unless required by law. The reader is
cautioned not to place undue reliance on forward-looking statements.
For further information, contact:
Richard A Gusella
President and Chief Executive Officer
Connacher Oil and Gas Limited
Phone: (403) 538-6201 Fax: (403) 538-6225
inquiries@connacheroil.com Website: www.connacheroil.com
Suite 900
332 - 6th Avenue S.W.
Calgary, Alberta T2P 0B2
Telephone: (403) 538-6201 Facsimile: (403) 538-6225
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On






All times are GMT -4. The time now is 04:05 AM.





Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.1.0
StockMarketCats.com