A stalled oilsands project in northern Alberta has been taken off the shelf, investors attending a presentation by Connacher Oil and Gas Ltd. learned Tuesday. President and chief executive Dick Gusella interrupted a presentation at the Canadian Association of Petroleum Producers to read an e-mail saying that a $200-million bond market issue had been completed and that the Connacher board had approved immediate reinstatement of the Algar in situ oilsands project.