Connacher Oil and Gas Limited submits Terms of Reference for the expansion of its Great Divide SAGD oil sands projects to 44,000 bbl/d

     CALGARY, March 9 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or
the "Company", CLL - TSX) announced today that in accordance with a proposed
expansion of its Great Divide Pod One and Algar steam assisted gravity
drainage ("SAGD") facilities from a combined design capacity of 20,000 bbl/d
of bitumen to approximately 44,000 bbl/d of bitumen (the "Great Divide SAGD
Expansion Project" or the "Project"), the Company has filed a Proposed Terms
of Reference ("Terms of Reference') for the Project with Alberta Environment.
The filing of the Terms of Reference is the first step in the process of
submitting an Environmental Impact Assessment ("EIA") for the Great Divide
SAGD Expansion Project, as directed by Alberta Environment.
     Copies of the proposed Terms of Reference and associated project
information can be viewed at the following locations:

     -   Fort McMurray Public Library, 9907 Franklin Avenue, Fort McMurray,
         Alberta
     -   Oil Sands Discovery Centre, 515 Mackenzie Blvd, Fort McMurray, AB
     -   Fort McMurray First Nation IRC Office - Gregoire Lake
     -   Chipewyan Prairie Dene First Nation Band Office - Janvier
     -   Alberta Environment's Register of Environmental Assessment, 111 Twin
         Atria Bldg., 4999 - 98 Avenue, Edmonton, Alberta, 780-427-5282, Toll
         Free 310-0000, Attn: Melanie Daneluk
     -   Connacher website - www.connacheroil.com

     Further information or copies of the proposed Terms of Reference and
associated project information can be obtained from:

     Great Divide SAGD Expansion Project
     Connacher Oil and Gas Limited
     Centrium Place
     Suite 900, 332 6th Ave S.W.
     Calgary, AB T2P 0B2
     Attention: Mr. Steve De Maio, Vice President, Project Development
     Telephone: (403) 538-6201
     E Mail: eia@connacheroil.com
     Website - www.connacheroil.com

     Individuals wishing to provide written comments on the proposed Terms of
Reference must submit them, by April 30, 2009, to:

     Director, Environmental Assessment, Northern Region, Alberta Environment
     111, Twin Atria Bldg., 4999 - 98 Avenue, Edmonton, Alberta, T6B 2X3,
     Fax: (780) 427-9102, E-mail: environmental.assessment@gov.ab.ca

     Connacher Oil and Gas Limited is a Calgary-based crude oil, natural gas
and bitumen or heavy oil producer. Our principal asset is located at Great
Divide in the oil sands region of Alberta. We also own conventional properties
in Alberta and Saskatchewan, a refinery in Montana, USA and hold a significant
24 percent equity stake in Petrolifera Petroleum Limited, a crude oil and
natural gas producer active in Argentina, Colombia and Peru in South America.

     Forward-Looking Information:

     This press release contains "forward-looking information" including the
development of the Great Divide SAGD Expansion Project. 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 or ramp-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. Actual production levels at Great Divide Pod One
and Algar may vary from design capacity and such variations may be material.
The filing of the Terms of Reference is only the first step in a lengthy
regulatory process which involves stakeholder consultation and regulatory
review. There can be no assurance that Connacher will receive the required
regulatory approvals required to develop the Great Divide SAGD Expansion
Project on terms and conditions acceptable to Connacher or at all. For a
description of the risks and uncertainties facing Connacher and its business
and affairs, readers should refer to Connacher's Annual Information Form,
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