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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: ERCB

Oct 30, 2008 12:16AM

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Oct 30, 2008 06:33PM

Oct 30, 2008 08:23PM

Re: ERCB

in response to by
posted on Oct 31, 2008 04:45AM


BBQDAYS I"LL REPOST THE NEWS RELEASE

I can understand your frustration, however with the world wide economic crises and the recent Federal Election I'm sure the Alberta government has more pressing issues to deal with. It's just a formality and most of the people who matter know Algar has been approved.


Connacher's Algar project advancing to Alberta Cabinet for final approval


     CALGARY, Oct. 1 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX) reports
that it has been advised verbally that the Energy Resources and Conservation
Board ("ERCB") is advancing Connacher's June 19, 2007 application for it's
second 10,000 bbl/d steam-assisted gravity drainage ("SAGD") project, Algar,
at Great Divide to the Cabinet of the Government of Alberta ("Cabinet") for
final approval, which is only evidenced by the issuance of an Order-in-Council
by Cabinet.
     At this time the timeline for receipt of the Order-in-Council remains
indeterminate but it is anticipated to occur during October 2008. Upon receipt
of such approval, Connacher is prepared to immediately commence field
construction at Algar and this would enable Connacher to remain on its
previously disclosed schedule.
     As has been previously communicated, funding for Algar was previously
arranged by Connacher and the company's objective is to commence production
from Algar by approximately year end 2009.

     Forward-Looking Information:

     This press release contains "forward-looking information" including: the
anticipated approval of the Algar project as evidenced by the issuance of an
Order-in-Council from the Cabinet and the proposed timeline for construction
of and initial production from Algar. Forward-looking information is
frequently characterized by words such as "plan", expect", "project",
"intend", "believe", "anticipate", estimate", "may", "will", "could",
"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 during construction and 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, construction, start-up, approvals
and the continuing ability to access sufficient capital from external sources
if required. 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, 2007, which is available at
www.sedar.com. Connacher undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should
change, unless required by law. Due to the risks and uncertainties inherent in
forward-looking information, the reader is cautioned not to place undue
reliance on this forward-looking information.
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





Oct 31, 2008 08:23AM
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