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CALGARY , Jan. 15, 2015 /CNW/ - Connacher Oil and Gas Limited (CLL – TSX; "Connacher" or the "Company") announces that in connection with Connacher's process to devise and implement a strategy to address its liquidity and capital structure, as announced on December 1, 2014 , Connacher's Board of Directors has initiated a strategic process which could result in the sale of the Company or all or a portion of its assets. Interested parties should contact the Company's financial advisors, BMO Capital Markets at (416) 359-5143.
There can be no assurance that the restructuring or strategic process will result in a transaction or, if a transaction is undertaken, the terms or timing of such a transaction.
About Connacher
Connacher is a Calgary -based in situ oil sands developer, producer and marketer of bitumen. The Company holds a 100 per cent interest in approximately 450 million barrels of proved and probable bitumen reserves and operates two steam assisted gravity drainage facilities located on the Company's Great Divide oil sands leases near Fort McMurray, Alberta .
SOURCE Connacher Oil and Gas Limited
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Connacher Oil and Gas Ltd.
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DEVELOPMENT STAGE |
CODE : CLL.TO |
ISIN : CA20588Y1034 |
CUSIP : 20588Y103 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Connacher Oil and Gas is a oil producing company based in Canada. Connacher Oil and Gas holds various exploration projects in Canada. Its main asset in development is GREAT DIVIDE POD ONE in USA and its main exploration property is ALGAR in Canada. Connacher Oil and Gas is listed in Canada. Its market capitalisation is CA$ 4.5 millions as of today (US$ 3.8 millions, € 3.3 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 6.07, and its lowest recent point on May 13, 2015 at CA$ 0.01. Connacher Oil and Gas has 452 950 016 shares outstanding. |