Connacher Oil and Gas's Profile

Connacher Oil and Gas Limited (TSX - CLL) http://www.connacheroil.com/ is a Calgary-based crude oil and natural gas exploration, development, production and refining company. Its principal asset is a 100 percent interest in approximately 98,000 acres of oil sands leases at the Great Divide project near Fort McMurray, Alberta. The company’s 10,000 bbl/d Pod One steam-assisted gravity drainage (“SAGD”) oil sands project commenced commercial production in March 2008, just four short years from first purchase of lands in the region and has already yielded over 4 million barrels of bitumen production.

Development of a second 10,000 bbl/d SAGD project (“Algar”) was approved by the Energy Resources Conservation Board (“ERCB”), the Alberta Cabinet and other regulatory agencies in November 2008. The Algar Pod, and its 17 well pairs were completed under budget and on time in May 2010. During 2008, the company almost tripled its bitumen reserve base and expanded its resource base, laying the foundation for significant growth in the remainder of this decade and the next decade. Connacher fully expects to be producing 50,000 bbl/day of bitumen by 2015.

In pursuing its objective of maximizing shareholder value, Connacher secures large, operated working interests, where possible. Over time, a balanced portfolio of oil sands, conventional crude oil and natural gas production and refining capacity is being pursued. An opportunistic approach, supported by timely decisions, reflects management’s experience and aggressive growth strategy to realize corporate objectives. Connacher pursues its objectives utilizing a conservative financial structure which reflects its asset base and which is designed to benefit shareholders.