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Connacher Oil and Gas Ltd.

Publié le 20 février 2015

Connacher Oil and Gas Obtains Interim Court Order

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Connacher Oil and Gas Obtains Interim Court Order

MEDIA RELEASE

February 20, 2015

FOR IMMEDIATE RELEASE

Connacher Oil and Gas Obtains Interim Court Order

Calgary, Alberta - On January 30, 2015 Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") announced a proposed recapitalization transaction (the "Recapitalization") aimed at significantly reducing the Company's debt and annual interest expense, and providing additional liquidity to fund ongoing operations. This Recapitalization has the committed support of holders of existing second lien secured notes (the "Existing Second Lien Notes") holding, on a combined basis, approximately 70% of the Existing Second Lien Notes and approximately 13% of the outstanding common shares.

Connacher obtained an interim order of the Court of Queen's Bench of Alberta yesterday with respect to the Recapitalization that, among other things, authorizes the Company to convene meetings of the shareholders and noteholders to be held in April to consider and approve the Recapitalization and other matters. A management information circular, setting out the details of the Recapitalization and the matters to be considered by the shareholders and noteholders, will be mailed in early March to security holders and posted on SEDAR prior to the meetings.

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 440 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.

Forward-Looking Information

Certain information regarding the Company contained herein constitutes forward-looking information and forward-looking statements (collectively, "forward-looking statements") under the meaning of applicable securities laws. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact, including statements regarding the proposed Recapitalization and the timing of the proposed shareholder and noteholder meetings. Although Connacher believes that the assumptions underlying, and expectations reflected in, such forward-looking statements are reasonable, it can give no assurance that such assumptions and expectations will prove to have been correct. There are many factors that could cause forward-looking statements not to be correct, including, but not limited to, risks and uncertainties inherent in the Company's business and risks and uncertainties
associated with securing the necessary approvals to implement the Recapitalization.

1

connacheroil.com

The forward-looking statements contained herein are made as of the date of this news release solely for the purpose of generally disclosing the status of Connacher's Recapitalization transaction. Connacher may, as considered necessary in the circumstances, update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise, but Connacher does not undertake to update this information at any particular time, except as required by law. Connacher cautions readers that the forward- looking statements may not be appropriate for purposes other than their intended purposes and that undue reliance should not be placed on any forward-looking statement. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

-30-

Contact

Chris Bloomer Greg Pollard

Chief Executive Officer Chief Financial Officer

Connacher Oil and Gas Limited

Phone: (403) 538-6201

Fax: (403) 538-6225

Suite 900, 332 - 6th Avenue SW Calgary, Alberta T2P 0B2 [email protected]

www.connacheroil.com

2

connacheroil.com

Lire la suite de l'article sur www.noodls.com

Connacher Oil and Gas Ltd.

EN DÉVELOPPEMENT
CODE : CLL.TO
ISIN : CA20588Y1034
CUSIP : 20588Y103
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Connacher Oil and Gas est une société de production minière de pétrole basée au Canada.

Connacher Oil and Gas détient divers projets d'exploration au Canada.

Son principal projet en développement est GREAT DIVIDE POD ONE en USA et son principal projet en exploration est ALGAR au Canada.

Connacher Oil and Gas est cotée au Canada. Sa capitalisation boursière aujourd'hui est 4,5 millions CA$ (3,8 millions US$, 3,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 6,07 CA$, et son plus bas niveau récent le 13 mai 2015 à 0,01 CA$.

Connacher Oil and Gas possède 452 950 016 actions en circulation.

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Rapports Financiers de Connacher Oil and Gas Ltd.
13/11/2013Announces Third Quarter 2013 Results
17/03/2011Reports Fourth Quarter 2010 And Year End 2010 Results; ...
18/02/2011Reports Year-End 2010 Reserves; Provides Brief Operational U...
Projets de Connacher Oil and Gas Ltd.
07/04/2011Reports February 2011 Great Divide and Corporate Production;...
Communiqués de Presse de Connacher Oil and Gas Ltd.
01/02/2016Big Oil Potential in Little Known Bannock Creek
21/04/2015Connacher Announces Filing of Application for Final CBCA Ord...
21/04/2015IIROC Trade Resumption - CLL
21/04/2015IIROC Trading Halt - CLL
31/03/2015PRESS DIGEST- Canada - March 31
30/03/2015Connacher Announces Voting Results from Shareholders' and No...
25/03/2015Connacher Announces Q4 2014 and Year-End 2014 Results
20/03/2015Connacher Oil and Gas Limited Clarifies Procedures Associate...
20/03/2015Connacher Oil and Gas Limited Clarifies Procedures Associate...
16/03/2015Connacher Oil and Gas Limited Exercises its New Facility Opt...
04/03/2015Connacher Oil and Gas Files Meeting
04/03/2015Connacher Oil and Gas Files Meeting Material for March 30, 2...
20/02/2015Connacher Oil and Gas Obtains Interim Court Order
20/02/2015Connacher Oil and Gas Obtains Interim Court Order
11/02/2015Connacher Announces Resignation of Director
05/02/2015Connacher Reports Year-End 2014 Reserves
04/02/2015Connacher Oil and Gas Provides Update on Proposed Recapitali...
02/02/2015Connacher Oil and Gas Provides Production and Financial Fore...
31/01/2015Connacher Oil and Gas Announces Proposed Recapitalization Tr...
29/01/2015Connacher Announces Resignation of Director
15/01/2015Connacher Initiates Strategic Process
02/12/2014PRESS DIGEST- Canada-Dec 2
01/12/2014Connacher Undertakes Review of Capital Structure
01/12/2014Connacher Undertakes Review of Capital Structure
14/11/2014Connacher Announces Q3 2014 Results
15/10/2014Connacher Provides Q3 2014 Operational Update and Q3 2014 Co...
09/10/2014Connacher Announces New Board Members
13/08/2014Connacher Announces Q2 2014 Results
17/07/2014Connacher Provides Q2 2014 Operational and Capital Plan Upda...
07/05/2014Selects Agent in the Arrangement of US Dollar Equivalent of ...
21/04/2014Provides Q1 2014 Operational Update, AGM and Conference Call...
29/01/2014Announces 2014 Initial Capital Plan
15/10/2013Provides Third Quarter 2013 Operational Update and Conferenc...
11/08/2011Progress Evident in Q2 2011; Record Bitumen Sales in June at...
30/06/2011(Algar)to Participate in TD Calgary Unconventional Energy Conferenc...
22/06/2011Announces Initiation of Process to Sell Halfway Creek
31/05/2011Closes New Issues Of Long Term Notes And Purchases Old N...
24/05/2011Announces Receipt of Requisite Consents with respect to ...
09/05/2011Information for the Shareholders of Connacher regarding the ...
15/02/2011Announces Closing of the Sale of its Battrum Properties in S...
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