Connacher Oil and Gas Ltd.

NEW, Connacher Oil and Gas Ltd., Calgary, (Toronto: CLL) has retained Sayer Securities Ltd. to sell its conventional heavy-oil and gas properties in Alberta at the Islay, Lloydminster and Ferrybank areas. The assets consist primarily of 100% working interests, with minor nonoperated and royalty interests. Production is approximately 422 barrels of oil equivalent per day (365 barrels of heavy oil; 330,000 cubic feet of gas). Total net proved plus probable reserves are more than 1 million barrels of oil and 800 million cubic feet of gas. In addition, Connacher anticipates monetizing a portion of its interest in the Great Divide SAGD oil-sands project southwest of Fort McMurray, Alberta, where it owns 100% of more than 50,000 acres of oil-sands rights