There is a new Alternative Monthly Report on SEDAR dated November 4, 2009.

It states that Resolute Funds "during the month of October it disposed of 26,750,000 common shares of Connacher Oil & Gas on behalf of the Fund, such that at the end of October the Fund held 40,000,000 common shares (representing approximately 9.3% of all outstanding shares of that class. As of the end of October 2009, Resolute Funds neither owned, directly or indirectly, nor exercised control over, any common shares of Connacher Oil & Gas other than as disclosed above."

In the Alternative Monthly Report dated July 10th, 2009 Fidelity reported for the first time, that it owned 57,218,300 shares of Connacher which represented 14.20% of Connacher's outstanding common shares at that time. Fidelity has filed no Alternative Reports on SEDAR since so it looks like they have retained their position however with the share dilution in August would cerainly have reduced Fidelity's current percentage of control of Connacher's common shares.

So, Resolute's disposal of 26,750,000 shares through out October most likely had a lot to do with Connacher's average volumes for each day being around 3,000,000 shares through out most of October. Resolute was behind most of the liquidity in the market and the unusual daily volume of Connacher shares traded. Now that these shares are in other hands, perhaps the share price can now start to go up, of course that may depend on the Q3 numbers which we are waiting on next week.

Best Wishes; Scott