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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: Connacher divestiture plan: to sell off it's conventional oil and gas asset's

Connacher's divestiture plan is on the Connacher website:

http://www.sayeradvisors.com/offerings/offering_details.asp?offeringid=236

Oil and Gas Limited
Property Divestiture

Bid Deadline: 12/9/2010 12:00:00 PM


OVERVIEW

Sayer Energy Advisors has been engaged to assist Connacher Oil and Gas Limited (“Connacher” or “the Company”) in divesting its interests in its oil and natural gas properties in the Battrum, Saskatchewan and Marten Creek, Alberta areas (“the Properties”). Connacher is selling the Properties in order to focus its activities on its other core areas. Recent production net to the Company from the Properties has averaged approximately 1,950 boe/d.

Connacher holds a 100% working interest in portions of three oil units in the Battrum area of southwestern Saskatchewan; the Battrum North Voluntary Unit No. 1, Battrum Unit No. 4 and the Battrum Voluntary Unit No. 5, along with several non-unit wells. After several operational enhancements, primarily at Unit 1, recent production from the Company’s wells at Battrum has averaged 750-800 barrels of 18-19o API oil per day, with the sales for the last twelve months averaging 638 bbl/d. Connacher is also divesting its non-producing interests in the Tompkins area, which is southwest of Battrum.

In the Marten Creek area of north central Alberta, the Company holds high working interests, mainly 100%, in several natural gas properties. Recent sales net to Connacher from the Marten Creek area properties has averaged approximately 7.1 MMcf/d of natural gas, or approximately 1,180 boe/d. There is potential to increase natural gas production significantly through tying-in some recently drilled Wabiskaw natural gas wells at Parker and through drilling up to five development wells on the Company’s 100% lands. The first Wabiskaw well drilled by the Company at Parker tested natural gas at a rate of 2.7 MMcf/d on completion. The Company intends to sell the Marten Creek area properties in one transaction.

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