Connacher Oil and Gas

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Connacher Oil and Gas Limited
Type Public (TSX: CLL)
Industry Oil and Gasoline
Founded Calgary, Alberta (1997)
Headquarters Calgary, Alberta, Canada
Key people Richard A. (Dick) Gusella, President & CEO, Peter D. Sametz, Executive Vice President & COO
Products Oil & gas exploration, production, and refining
Revenue 12px$12.378 million CAN (2005)
Website www.connacheroil.com

Connacher Oil and Gas Limited (TSX: CLL), headquartered in Calgary, Alberta has a 100 percent interest in almost 98,000 acres (360 km²) of oil sands leases at its Great Divide oil sands project near Fort McMurray, Alberta. In June 2006, Connacher received approval from the Alberta Energy and Utilities Board to implement a steam-assisted gravity drainage scheme for the production of bitumen at the project pending an Order in Council and subject to certain conditions. The Company's 10,000 bbl/d (1,600 m3/d) Pod 1 steam assisted gravity drainage (SAGD) oil sands project commenced commercial production in March 2008 in less than four years after first purchasing its land in the region.

Connacher also has conventional oil and natural gas production of 3,300 bbl/d (520 m3/d) from properties in Alberta and Saskatchewan, including those resulting from the acquisition of Luke Energy Ltd., which closed in early 2006. Luke Energy Ltd. is largely a natural gas producer with good growth potential and properties physically proximate to Great Divide at Marten Creek. Luke also held properties at Three Hills, Alberta. Connacher also recently acquired an 8,300 bbl/d (1,320 m3/d) refinery located in Great Falls, Montana. The refinery has been expanded to 9,500 bbl/d (1,510 m3/d). Connacher presently owns 24 percent of and manages Petrolifera Petroleum Limited (TSX - PDP), which has interests in Argentina, Columbia and Peru.

POD #1 is producing bitumen at 7,000 bbl/d (1,100 m3/d).

POD #2 called Algar has had construction suspended until the current economic conditions improve later in 2009.

Corporate governance

Current members of the board of directors of Connacher Oil and Gas Limited are: Richard A. (Dick) Gusella, Charles W. Berard, D. Hugh Bessell, Colin M. Evans, Stewart D. McGregor, and W.C. (Mike) Seth.

References

External links

nl:Petro-Canada


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