The RBC Report on page 68 lists the following catalysts going forward by Quarter to evaluate Connacher's progress going forward:

Potential Catalysts

In the immediate term, we are watching for the following potential catalysts:

• Monthly operational updates on Algar and Pod One performance

• Possible announcement of conventional asset sales

In 2011, we will be watching for the following catalysts:

• Q-1 Details and closing of conventional asset sale effective January 1

• Q-1 Update on 2010 production exit rates at Pod One and Algar, which we expect to fall short of expectations

• Q-1/2 Continued results detailing ramp-up at Algar

• Q-2 A new electrical sub-station near Pod One, which is expected to improve utilization rates

• Q-3 Winter core hole program; results and resource estimate likely to be reported in Q3

• Q-4 Possible regulatory approval of Algar expansion 24,000 bbl/d

In 2012, we will be watching for the following catalysts:

• Q-1 Possible financing for Algar phase 2a expansion, which we estimate at $300–400 million

• Q-2 Maturity of $100 million convertible debentures

• Q-2 Possible construction beginning at Algar Phase 2a

In 2013 we will be watching for the following catalysts:

• Q-1 2013 Possible first steam/production at Algar expansion Phase 2

• Q-2 2013 Maturity of US $200 million dollar notes convertible debentures

• Q-4 2015 Maturity of US $587 million dollar notes

Cheers; Scott