Connacher Oil & Gas Ltd (CLL)

[tedwitt]

Last Trade: 4.96

[Tryme30]

I like this company better and better everyday, as crude oil price keep rising. I also like BQI,but they are still drilling and needs possible venture partners. CLL is making money from selling oil. Pad IA addition will send this stock up IMO.

[tedwitt]

There is much more to come. Now there is talk of a POD IA project of 5,000 - 7,000 BBL/d due to the projected production levels of the POD I SAGD pairs

[Tryme30]

Yes,you are right. This is not some development company. They'r procesing oil,selling that oil. I should have loaded more in the 2-3$ range.

[mikethespike]

I think we have a great outlook here!

[mikethespike]

This company gets me crazy. Oil is over 100, and they still go like a roller coaster. I thought it was gravy anything over 60. Are royalties, and costs killing this little boomtown company! Do we need 200 so the rest of the world can collapse, and the the SP will be $6. Something does not jive here!

[tedwitt]

believe me I am

[Tryme30]

I would say a comination of all those things. 10,000 barrel a day is real. That spells $$$$$$. Just enjoy the ride.

[tedwitt]

Lots of pressure, wonder what is driving it more; the price of oil, commercial production, drilling results, may 13 meeting, 1Q numbers, permitting for Algar or all.... and when the rebar gives...OMG

[Tryme30]

Ah,looking nice

[tedwitt]

$4.21

[tedwitt]

IT'S ALIVE................... $4.02

[NYBob]

Connacher Oil & Gas Ltd. (T.CLL) $3.07 -$0.03 (-0.97%)
Volume: 523.09 k
4:18 PM EDT Mar 28, 2008

[rossi]

CALGARY, Feb. 25 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX) announced today that it has entered into a pooling of 38.5 sections (24,640 acres) of contiguous oil sands rights situated south of Fort McMurray in the Halfway Creek/Hangingstone East area of northeastern Alberta with Alberta Oilsands Inc. ("AOS"). The pooling will result in the joint ownership, evaluation and potential development of any resources which may be identified by the evaluation program. There can be no assurance that developable resources will be identified from evaluation programs.

ADVERTISEMENT
The agreement provides for the joint operatorship during the initial two years of the evaluation program, with Connacher the designated operator of any subsequent evaluation program(s) and of any identifiable development program(s) which may occur. The area is amenable to the application of steam assisted gravity drainage technology ("SAGD") should developable prospects be identified.

The first year's seismic and core hole drilling programs are currently underway and are anticipated to progress throughout the remaining winter months in 2008, with preliminary results expected later this year.

In conjunction with the pooling, an equalization payment which recognizes sunk costs and the disproportionate acreage contributions by the two parties will be made by Connacher to AOS.

The pooling provides Connacher with access to a significant increase in Connacher's contiguous gross land base in the region and it is anticipated it will result in economies in the evaluation of the potential of the region. Connacher's experience in accelerated delineation and development at its Great Divide project could be applied at Halfway Creek/Hangingstone East if the joint evaluation program proves successful.

[tedwitt]

http://biz.yahoo.com/cnw/080225/connacher_pooling_aos.html?.v=1

[tedwitt]

http://biz.yahoo.com/cnw/080225/connacher_reserves.html?.v=1

[tedwitt]

Bob,
Spoke with a guy from Aux Sable today for about 30 min, seems like the conservitives might get the crap kicked out of them on the March 2nd election in Alberta. They pissed off their oil base. Everyone is waiting on the royalities & CO2 statements. A group of us is holding a good chunk.

[tedwitt]

Bob, ever spoken with Dick G. up there?

You might want to, and focus the conversation on the current drilling season

[NYBob]

Connacher Oil & Gas Ltd. (T.CLL) $ 3.10
-0.01 (-0.32%)
Volume: 406.95 k
4:10 PM EST Feb 8, 2008

[Tryme30]

Hey Bob you are posting ti keep the thread alive. Still hold 600 shares,small but something.

[NYBob]

Connacher appoints Scott Carrothers as Treasurer
Monday February 4, 7:00 am ET -

http://biz.yahoo.com/cnw/080204/connacher_treasurer.html?.v=1

[NYBob]

CONNACHER OIL GAS COM NPV (Toronto:CLL.TO) -

http://finance.yahoo.com/q?s=cll.to

[NYBob]

Connacher Oil & Gas Ltd. (T.CLL) $ 3.08
0.01 (+0.33%) Volume: 461.09 k
3:59 PM EST Feb 7, 2008

[tedwitt]

???????

[NYBob]

Connacher Oil & Gas Ltd. (T.CLL) $ 3.07
0.00 (0.00%) Volume: 0
4:10 PM EST Feb 6, 2008

[oscillo]

if chart appears reduced, click on image to enlarge
http://stockcharts.com/h-sc/ui?s=CLL.TO&p=D&yr=0&mn=3&dy=0&id=p72775874865&a...

[tedwitt]

http://biz.yahoo.com/cnw/070810/connacher_q2_results.html?.v=1

[tedwitt]

News

http://biz.yahoo.com/research/earncal/20070809.html?t=cll.to

[tedwitt]

To me yes. More volume on the TSX. I do not mind the $27 scottrade charges because I do blocks of over 1,000. Also, no games like the PK's

[Reznor]

Why is it better to buy the toronto exchange instead of the pink sheet. I'd have to phone in my order to my broker to purchase the toronto exchange instead of the pinkie and be charged $30 in commissions instead of $5. IS there really that big of a difference?

[tedwitt]

http://biz.yahoo.com/cnw/070802/connacher_pod_one.html?.v=1

[tedwitt]

Tic Tock, Tic Tock, Tic Tock

http://www.marathon.com/News/Press%5FReleases/Press%5FRelease/?id=1033961


Connacher Oil & Gas Nears Completion of $261 Million Pod I Great Divide Oil Sands Project and Files Permits for Pod II

SUGAR LAND--July 25, 2007--Researched by Industrial Info Resources (Sugar Land, Texas). Connacher Oil & Gas Limited (TSX:CLL)(Calgary, Alberta) is nearing the construction completion date of the first phase of the Great Divide oil sands project. Connacher anticipates that the Pod I bitumen production facilities will be completed on August 10, 2007, and that plant testing and start up procedures resulting in first steam injection will be initiated on August 15, 2007. Approximately 90 days after the August 15, 2007 date, Connacher will realize first bitumen production. By the second quarter of 2008, the Pod I facility should be producing approximately 10,000 barrels per day (BBL/d) and will have daily production average of 7,300 – 7,500 BBL/d for the year and exiting the year at a steady 10,000 BBL/d.

The Pod I project is a bitumen production plant utilizing Steam Assisted Gravity Drainage (SAGD) technology to produce bitumen locked in the oil sands. Pod I is the first of 5 or 6 separate phases (Pods) to be constructed on the Great Divide oil sands property located approximately 80 kilometers southwest of Fort McMurray, Alberta. Connacher awarded the preliminary engineering contract for Pod I of the Great Divide project to the Calgary office of WorleyParsons MEG and the E+P+C contract to Bower Damberger Rolseth Engineering, also located in Calgary, Alberta.

Construction on the $261 million Pod I project had begun in late 2006. Unlike many other companies experiencing huge cost overruns in the oil sands patch in Alberta, Connacher managed to limit the cost overrun to 13%. This limited overrun stands out in an industry that is now experiencing cost overruns in the neighborhood of 50% or more. Costs for oil sands projects have sky rocketed in the last year or so. Recently, Petro-Canada put the finishing touches on plans for the Fort Hills oil sands and upgrader project, the cost of the project, today, exceeds $15 billion CND. Petro-Canada and partners have confirmed that they will proceed with the 170,000 BBL/d project.

In addition to the Pod I project, Connacher has filed permitting for the Pod II project at the Great Divide called Algar. The Algar project will almost mirror the Pod I project and will have a production target of 10,000 BBL/d. Connacher hopes to begin construction on the Algar project in the first quarter of 2008, with a facility completion and first steaming date targeted for the second quarter of 2009.

In addition to the Algar project, Connacher also intends to construct a 20 mile dual pipeline to transport diluted bitumen to a pipeline interconnect with the recently completed Access Pipeline system in Township 77. The pipeline will have a capacity to transport 50,000 BBL/d of diluted bitumen through the 24-inch diameter pipeline, and it will have a separate 12-inch diameter pipeline to function as a 20,000 BBL/d diluent return system back to the Great Divide property. The Access Pipeline system is a joint venture of MEG Energy, Incorporated (Calgary, Alberta) and Devon Canada Corporation (Calgary, Alberta), the Canadian business unit of (NYSE:DVN) (Oklahoma City, Oklahoma). By constructing the pipeline interconnection, Connacher will be able to improve operating costs as its bitumen production rises and economies of scale come into play. Until the pipeline is put into operation, Connacher intends to truck its bitumen to existing terminals which is not uncommon in the region. Japan Canada Oil Sands Limited (JACOS) (Calgary, Alberta) has been trucking its product for several years.

After the Algar project, Connacher intends to construct at least three more Pods on the Great Divide Property to increase its production of bitumen from that source to a total of 53,000 BBL/d in the next five to seven years. In the same time range Connacher expects to increase conventional production to 5,300 BBL/d. Connacher could spend in the area of $300 million on expanding existing refining operations or seek to acquire additional refining operations to increase total refining capacity to 40,000 BBL/d from the present 10,000 BBL/d. Connacher is currently studying several expansion proposals for the Great Falls refinery located in Montana, operated by Montana Refining Company Incorporated, a wholly owned subsidiary of Connacher. Connacher had acquired the Great Falls refinery from Holly Corporation (NYSE: HOC) (Dallas, Texas) in late March 2006 and has since increased its capacity from 8,300 BBL/s to the present 10,000 BBL/d or better.

Connacher recently completed a new 150,000 BBL asphalt tank at the refinery and is studying the possibility of constructing a further five new storage tanks to increase the storage capacity of gas-oil, diesel, and asphalt. The new tanks will range in size from 20,000 – 25,000 BBL each and should be put into service during 2008. In addition the new tanks, Connacher is also looking at the possibility of adding a new 10 million cubic foot per day (mmcfd) hydrogen plant in conjunction with a hydrotreater proposal that could take the total refining capacity of the plant to 15,000 BBL/d – 17,000 BBL/d.

Connacher Oil & Gas plans to precede with all three sector growth plans in parallel to achieve its 5-year plan. Industrial Info has been tracking the progression of Connacher Oil & Gas since November of 2004. In that time Connacher has grown from a small office in Calgary into a company with operations in three countries and a staff over 150 people.

View Project Report – 56001140 56000889

Industrial Info Resources (IIR) provides marketing communication services ranging from industrial database solutions to market forecasting, custom analytics, and specialty promotions that support high-level image campaigns.

http://www.industrialinfo.com/showNews.jsp?newsitemID=117012

[tedwitt]

Connacher Oil & Gas Limited Nears Completion on its $261 Million Pod I Great Divide Oil Sands Project and Files Permits for Pod II

Connacher Oil & Gas Limited (Connacher) (Calgary, Alberta) (TSX: CLL) is nearing the construction completion date its first phase of the Great Divide oil sands project. Connacher anticipates that the Pod I bitumen production facilities will be completed on August 10, 2007and that plant testing and start up procedures resulting in first steam injection will be initiated on August 15, 2007. Approximately 90 days after the August 15, 2007 date, Connacher will realize its first bitumen production. By the second quarter of 2008 the Pod I facility should be producing approximately 10,000 barrels per day (BBL/d) and will have daily production average of 7,300 – 7,500 BBL/d for the year and exiting the year at a steady 10,000 BBL/d.

The Pod I project is a bitumen production plant utilizing Steam Assisted Gravity Drainage (SADG) technology to produce bitumen locked in the oil sands. Pod I is the first of 5 or 6 separate phases (Pods) to be constructed on the Great Divide oil sands property located approximately 80 kilometers southwest of Fort McMurray, Alberta. Connacher awarded the preliminary engineering contract for Pod I of the Great Divide project to the Calgary office of WorleyParsons MEG and the E+P+C contract to Bower Damberger Rolseth Engineering also located in Calgary, Alberta.

Construction on the $261 million Pod I project had begun in late 2006. Unlike many other companies experiencing huge cost overruns in the oil sands patch in Alberta, Connacher managed to limit the cost overrun to 13%. This limited overrun stands out in an industry that is now experiencing cost overruns in the neighborhood of 50% or more. Costs for oil sands projects have sky rocketed in the last year or so. Recently Petro-Canada put the finishing touches on its plans for the Fort Hills oil sands and upgrader project, the cost of the project today exceeds $15 billion CND. Petro-Canada and partners have confirmed that they will proceed with the 170,000 BBL/d project.

In addition to the Pod I project, Connacher has filed permitting for its Pod II project at the Great Divide call Algar. The Algar project will almost mirror the Pod I project and will have a production target of 10,000 BBL/d. Connacher hopes to begin construction on the Algar project in the first quarter of 2008 with a facility completion and first steaming date targeted for the second quarter of 2009.

In addition to the Algar project, Connacher also intends to construct a 20 mile dual pipeline to transport diluted bitumen to a pipeline interconnect with the recently completed Access Pipeline system in Township 77. The pipeline will have a capacity to transport 50,000 BBL/d of diluted bitumen through the 24” diameter pipeline and it will have a separate 12” diameter pipeline to function as a 20,000 BBL/d diluent return system back to the Great Divide property. The Access Pipeline system is a joint venture of MEG Energy, Incorporated (Calgary, Alberta) and Devon Canada Corporation (Calgary, Alberta), the Canadian business unit of (NYSE:DVN) (Oklahoma City, Oklahoma). By constructing the pipeline interconnection, Connacher will be able to improve operating costs as its bitumen production rises and economies of scale come into play. Until the pipeline is put into operation, Connacher intends to truck its bitumen to existing terminals which is not uncommon in the region. Japan Canada Oil Sands Limited (JACOS) (Calgary, Alberta) has been trucking its product for several years.

After the Algar project, Connacher intends to construct at least 3 more Pods on the Great Divide Property to increase its production of bitumen from that source to a total of 53,000 BBL/d in the next five to seven years. In the same time range Connacher expects to increase its conventional production to 5,300 BBL/d. Connacher could spend in the area of $300 million on expanding its existing refining operations or seek to acquire additional refining operations to increase its total refining capacity to 40,000 BBL/d from its present 10,000 BBL/d. Connacher is currently studying several expansion proposals at its Great Falls refinery located in Montana operated by Montana Refining Company Incorporated a wholly owned subsidiary of Connacher. Connacher had acquired the Great Falls refinery from Holly Corporation (Dallas, Texas) (NYSE: HOC) in late March of 2006 and has since increased its capacity from 8,300 BBL/s to the present 10,000 BBL/d or better.

Connacher recently completed a new 150,000 BBL asphalt tank at the refinery and is studying the possibility of constructing a further 5 new storage tanks to increase the storage capacity of gas-oil, diesel, and asphalt. The new tanks will range in size from 20,000 – 25,000 BBL each and should be put into service during 2008. In addition the new tanks, Connacher is also looking at the possibility of adding a new 10 million cubic foot per day (mmcfd) hydrogen plant in conjunction with a hydrotreater proposal that could take the total refining capacity of the plant to 15,000 BBL/d – 17,000 BBL/d.

[tedwitt]

pps up on crude or is this the slow creap in pps due to pod I heading into production (First steaming)??? This will be very tasty.

[tedwitt]

their situation is some what different.

[NYBob]

OT. FYI. NEWS - BQI - 10 billion barrels x $72.5/barrel = $720 billions worth of BQI - Crude Oil -


is based on the following evaluations:

Oilsands Quest estimates resource potential of its Saskatchewan
and adjacent Alberta permits
Amex: BQI
CALGARY, July 12 /PRNewswire-FirstCall/ -

Oilsands Quest Inc.
(Amex: BQI) announces management's estimate of resource
potential of 10 billion barrels of bitumen for its contiguous
oil sands exploration permits in northwest Saskatchewan and
northeast Alberta.
This estimate includes management's estimate of Original
Bitumen In Place (OBIP) for the Axe Lake Discovery on
its Saskatchewan permits as well as management's estimate
of resource potential on certain portions of the remainder
of its Saskatchewan permits and its adjacent Alberta permits.

Management's estimate of resource potential, 10 billion
barrels, is based on the following evaluations:

- Axe Lake Discovery area: Management's estimate of OBIP for Axe Lake
is 1.4 to 1.5 billion barrels and its estimate of additional resource
potential for Axe Lake is 0.7 to 1.3 billion barrels, for a total
potential bitumen resource of 2.1 to 2.8 billion barrels. (This total
estimate has been rounded to 2.5 billion barrels for ease of
reference). The independent consultant's estimate of OBIP for the Axe
Lake Discovery will be completed in the fall of 2007.

- Other portions of the company's Saskatchewan permits: Management's
estimate of additional resource potential for selected areas outside
the Axe Lake Discovery area (areas to the south and northeast) is
3.0 billion barrels.

- Adjacent Alberta permits: Management's estimate of the resource
potential for approximately two townships of the company's adjacent
permits in Alberta is 4.5 billion barrels.

'Axe Lake is proving to be suitable for in-situ recovery,' said Christopher H. Hopkins, President and Chief Executive Officer of Oilsands Quest. 'According to results of studies of the bitumen characteristics to date, we expect the high permeability and porosity characteristics will contribute to high recovery factors. As a result of the homogeneity of the sands, hot water (wet steam) recovery processes are proving to be efficient at relatively low pressure and temperatures (from 80 degrees Celsius), with yields of 54 to 83 percent under lab conditions.'

The Axe Lake bitumen resource is characterized by thick, continuous, coarse-grained oil sands in reservoirs at depths from 185 to 205 metres. Studies to date suggest that grain size distribution of the coarse sands, which ranges from smaller particles at the top of the pay zone to larger particles at the bottom, will enhance drainage, thereby improving production and economics. The clay-rich layer overlying the reservoir is expected to provide an effective seal for anticipated recovery processes.

Today, Mr. Hopkins is addressing the TD Newcrest Oil Sands Forum, a private conference being held in Calgary, Alberta. A copy of his PowerPoint presentation summarizing the company's estimates of OBIP and resource potential, current information about the Axe Lake bitumen resource and an overview of Oilsands Quest's plans for the next 12 to 18 months will be posted on the company's website (www.oilsandsquest.com) later today. This presentation also includes a map relating the resource estimates to the company's permit areas.

Explanation of Terminology

Discovered Resources

The Axe Lake discovery is classified as a Discovered Resource. The Discovered Resources classification is in accordance with the Canadian Oil and Gas Evaluation Handbook (COGEH), which is the primary reference for reporting resources under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities promulgated by the Canadian Securities Administrators. As defined in the COGEH, 'Discovered resources are those quantities of oil and gas estimated on a given date to be remaining in, plus those quantities already produced from, known accumulations. Discovered resources are divided into economic and uneconomic categories, with the estimated future recoverable portion classified as reserves and contingent reserves, respectively.' Discovered Resources can be further classified into four sub-categories: cumulative production; reserves; contingent resources; and unrecoverable resources. The Discovered Resources disclosed by Oilsands Quest in its OBIP estimates can not at this time be classified into one of these four sub-categories

Original Bitumen In Place

OBIP is the gross volume of bitumen estimated, at a particular time, to be initially contained in a reservoir before any volume has been produced and without regard for the extent to which volumes will be recovered. Management's estimate is a High Estimate (P10), based on extrapolating data to approximately 1,000 metres (3,281 feet) from the well bore. The estimate was made in accordance with the COGEH. The commercial viability of the bitumen resource, or whether currently commercial recovery processes will be applicable, cannot be determined without further drilling, testing and analysis. The area of the OBIP estimate within the Axe Lake Discovery covers approximately 36 sections (one township) of Permits PS00208 and PS00210 (100% Oilsands Quest) located in the north half of Township 94 and the south half of Township 95, Ranges 24 and 25 West of the Third Meridian. It is approximately 50 kilometres (30 miles) east of Suncor's Firebag operations.

Resource Potential

Management's estimate of Resource Potential is based on the definition of Undiscovered Resources, which is a recognized category in the COGEH. As defined in the COGEH, 'Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered.' Management's assessment of resource potential is based on observations of resource extensions from the Axe Lake Discovery drill holes adjacent to and those on the lands assessed and on seismic surveys completed to date. There is no certainty that any portion of the resource potential will be discovered and, if discovered, it may not be economically viable or technically feasible to produce. This assessment of resource potential does not constitute an OBIP estimate. Further drilling and analysis is required to develop an OBIP estimate for these permit lands. The COGEH can be obtained online (www.petsoc.org).

Forward-Looking Information

Except for statements of historical fact relating to the company, ----Readers should refer to Oilsands Quest's current annual report on Form 10KSB and other document filings, which are available at www.sedar.com and at www.sec.gov for a detailed discussion of these risks and uncertainties and details regarding the location and extent of the Oilsands Quest permit lands.

SOURCE Oilsands Quest Inc.

Source: PR Newswire (July 12, 2007 - 7:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

http://www.oilsandsquest.com/investor_information/news_releases.html

http://www.investorshub.com/boards/board.asp?board_id=6668

[tedwitt]

http://biz.yahoo.com/cnw/070710/connacher_reserves.html?.v=1

http://biz.yahoo.com/cnw/070711/connacher_conference.html?.v=1

[tedwitt]

The choice is up to you. The PR only said a cost over run they own enough of PDP ($200 million) to fund just about what ever they want. At the MRCI refinery, I know they are looking at a major expansion. there are some good presentations on their website.

Construction on POD I is advanced. The second 10,000 BBL/d facility is going to the permitting stage soon.

I am trying to free up anough $ for a chunk before the May shareholders meeting and while it is down and just wait out 2007 & 2008.

Got fu%ked in TIDE & FNGCE, starting to feel that way with PBLS but I am willing to wait... cash is low.

Could shoot myself for not staying in CPNLG at .24 but a 20% gain was a 20% gain.... FU%K...

[cdaniel394]

Tedwitt, I'm considering jumping in here long term. What do you make of todays PR? Do you think that the $3.70 area is a good place to start collecting shares? Thanks and I sure hope PBLS management gets their heads out of their collective arses. Thanks in advance.

[tedwitt]

Nice days of hvy volume and a trading halt today to end of day. It's the TSX so I figure news is on the way tonight or tomorrow, unless the halt was a mistake.

[tedwitt]

TSX if you are looking long

[cdaniel394]

Better to buy the Toronto exchange or the Pinks?

[FasterThanYou]

CLL.TO will be $10 canadian by year end. Can't believe no one talks about the still 26 - 30% ownership they have in PDP, which is a freakin gold mine in itself.

[tedwitt]

http://biz.yahoo.com/cnw/070412/connacher_conference.html?.v=1

[tedwitt]

http://biz.yahoo.com/cnw/070323/connacher_06_results.html?.v=1

[tedwitt]

http://biz.yahoo.com/cnw/070228/connacher_reserves.html?.v=1

[tedwitt]

http://biz.yahoo.com/cnw/070202/connacher_drill_updt.html?.v=1

[tedwitt]

Press Release Source: Connacher Oil and Gas Limited


Connacher provides operational update; Great divide proceeding apace
Friday January 12, 9:15 pm ET


CALGARY, Jan. 12 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX) announces that considerable progress has been achieved at its Great Divide oil sands project in northeastern Alberta, Canada since our last reports to shareholders in November 2006.
Attached to this Press Release and posted on our website (www.connacheroil.com) are three recent photographs, including an aerial shot of the Great Divide Pod One plant site and construction area. Indicated thereon viewers and readers will see the location of Highway 63 between Edmonton and Fort McMurray, which runs to the east of our plant site; the pre-existing utility right-of way for power and pipelines; trucks traveling to and from the main borrow pit; the construction camp; the tank construction area and office; the main facility site including tank pads and the treater pad area; drilling pad 102 with TriCity rig No.37 which is drilling five horizontal well pairs; and the road towards Pad 101 on which two rigs will shortly be drilling an additional ten well pairs in anticipation of the summer 2007 startup of steaming followed by oil production from Pod One.

Also attached to this release is a recent (January 9, 2007) picture of progress at our main tank building and also a picture of oil removal filters ("orf's") on site at Great Divide. It should be noted that most of the equipment, skids and modules for the Pod One plant are completed and are being stored off-site awaiting installation in accordance with the established timetable.


See http://files.newswire.ca/574/connacher.jpg for photos.

POD ONE DEVELOPMENT


Connacher is very pleased with the overall progress of its drilling and plant construction program at its Great Divide Pod One development project. As is evident from the attached aerial photograph, considerable civil and construction work has been completed. The company expects to install the two evaporators utilized in its water handling and processing system during the latter part of January 2007. Tank and Treater building construction will also proceed once framing and piping installation is further advanced. Civil work at Pad 101 west of Pad 102 is complete so drilling can proceed on schedule once the five well pairs on Pad 102 are completed. These wells are being drilled in a westerly direction and will interact with the ten well pairs to be drilled in a northeasterly and a southwesterly direction from Pad 101 to drain the initial area of influence and produce 10,000 bbl/d of bitumen for the next six to eight years, before new well pairs will be required to maintain production levels by accessing other undrained portions of the Pod One accumulation.
At this juncture Connacher is comfortable with respect to its timetable and budget, reflecting the merits of sound pre-construction engineering and design work and development of reliable cost estimates from established suppliers of equipment and services.

GREAT DIVIDE CORE HOLE AND SEISMIC PROGRAM

Connacher was able to complete six core holes on its main lease block near Pod One, Pod Two and Pod Five during the month of December 2006. This marks the first time since acquiring the leases in early 2004 that Connacher was able to conduct field operations prior to year end. The results of these additional core holes will be available for inclusion in year end reserve and resource estimates to be conducted by GLJ Petroleum Consultants ("GLJ"), independent consultant for the company, as part of Connacher's normal compilation of year end operating and financial results. These are anticipated to be reported to shareholders on March 23, 2007 after the close of trading on Canadian stock markets.

Since year end 2006 Connacher has accelerated its core hole drilling program and is now operating with four rigs and one additional rig is being utilized solely to drill surface hole and set surface pipe in advance of the arrival of the core hole rigs. A total of 70 core holes are scheduled for drilling on the company's main lease block prior to breakup in the spring of 2007. Initial results from drilling are most encouraging with numerous wells encountering thick oil-bearing zones. The results of the total core hole program and seismic program scheduled to commence imminently will be provided to GLJ on a continuous basis and updated reserve estimates reflecting the Winter 2007 program will likely be provided to shareholders and investors around mid-year.

The outcome of drilling, particularly from wells near or associated with Pod Two northeast of Pod One, will determine if Connacher will be able to proceed on a timely basis this spring with a formal application to develop this accumulation, after due consultation with relevant stakeholders and authorities.

OTHER

In early January 2007 Connacher received approximately $10 million from the December 2006 sale of scattered minor properties to a private foreign-owned company. Proceeds were utilized to pay down short-term bank debt. In Connacher's opinion, the transaction metrics were favorable for the approximate 240 boe/d disposition of this non-core, high-cost stripper production.

The company has commenced its conventional drilling program in northern Alberta. A total of approximately 25 wells are anticipated for 2007 in winter-only access areas if warranted by initial results and if permitted by weather conditions.

Connacher acquired an additional 11.5 sections (7,360 acres) of oil sands rights at the January 10, 2007 Crown Sale in Alberta. This brings the company's total oil sands lease holdings in the region to approximately 90,000 acres or 140 sections, exclusive of P&NG rights held in the area for their natural gas prospectivity.

In addition to its extensive oil sands project and its conventional exploration and production operations at Marten Creek and Three Hills, Alberta and at Battrum, Saskatchewan, Connacher owns a 10,000 bbl/d refinery at Great Falls, Montana, where it is in the midst of constructing a new 150,000 barrel asphalt storage tank which will enable continued year-round high throughput rates at the refinery. Also, construction of a NaHs unit to extract impurities from the fuel gas supply was recently completed, which will enhance environmental performance.

Connacher also owns a 26 percent (fully-diluted) interest in Petrolifera Petroleum Limited (PDP - TSX), which demonstrated significant production growth from approximately 1,000 bbl/d or light gravity crude oil in January 2006 to over 13,400 bbl/d in December 2006 as a result of new drilling. This organic growth should continue during 2007 as Petrolifera has announced it plans to drill over 50 wells at Puesto Morales this year and also is anticipating commencement of drilling on its high-potential blocks in Peru. Connacher's net current cash investment in Petrolifera is only $2 million and its holdings have a current market value in excess of $210 million.

Connacher Oil and Gas Limited is a public Calgary-based oil and natural gas exploration and production company. Its principal asset is extensive holdings in Alberta's oil sands at Great Divide, situated approximately 50 miles southwest of Fort McMurray. Significant conventional oil and natural gas production and reserves are also held in Alberta and Saskatchewan. Connacher owns and operates a 10,000 bbl/d refinery at Great Falls, Montana and owns a significant equity stake in Petrolifera Petroleum Limited, a public Canadian oil company active in South America.

Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. 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, approvals and the ability to access sufficient capital from external sources. Anticipated exploration and development plans relating to Connacher's properties in 2007 are subject to change. For a detailed 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, 2005. 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: [phone], Fax: [phone], [e-mail], Website: www.connacheroil.com



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Source: Connacher Oil and Gas Limited

[iloveoil]

picked up 7200 more shares at 3.20 and 3.21 made money on upda and hmgp now i have free shares in them both and 7200 more cll.
going to look for other plays to feed cll

[iloveoil]

iv owned this stock for about a year and ahalf
what a great stock yes it didnt do much in 06 but i have alot of shares now because of it looking to bye more if it hits the 3.20s which it might doesnt matter if it does or not i still win going to be abig year for cll and shareholders
but we dont want any more issued shares
good luck and merry christmas