Attention Business Editors:

Connacher to participate in TD Securities Leveraged Finance Conference

     CALGARY, May 6 /CNW/ - Connacher Oil and Gas Limited (CLL-TSX) announced today that it is a participant at the 2008 TD Securities Leveraged Finance Conference in Miami on May 8, 2008. Participating in a panel discussion on oil sands at approximately 11:30 AM MST will be Mr. Peter Sametz, Executive Vice President and Chief Operating Officer and Mr. Grant Ukrainetz, Vice President, Corporate Development.    The slide presentation for this event is being posted on Connacher's website at www.connacheroil.com. Click on the Investor Information link and go to the Spring 2008 Presentation.    Connacher Oil and Gas Limited is a Calgary-based Canadian oil and natural gas exploration, development, production and refining company. The company's principal assets are its significant bitumen reserves and resources and its 100 percent interest in approximately 98,000 net acres of oil sands leases at or near its Great Divide oil sands project 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 heavy oil 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.

For further information: Richard A. Gusella, President and Chief Executive Officer; OR Grant D. Ukrainetz, Vice President, Corporate Development, Phone: (403) 538-6201, Fax: (403) 538-6225, inquiries@connacheroil.com, Website: www.connacheroil.com