Connacher Oil & Gas(CLLZF)
OTC US

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The logo of Greenfire Resources Ltd. is shown in this handout image. THE CANADIAN PRESS/Handout - Greenfire Resources Ltd. (Mandatory credit)
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Greenfire Resources to buy Connacher for $1.27-billion

Deal expected to boost Calgary-based producer’s production to about 34,000 barrels per day

Profile

Connacher Oil and Gas Ltd was formed on July 3, 1997 through the amalgamation pursuant to the Business Corporation Act (Alberta) of Petro Power Energy Inc. and Justinian Explorations Ltd. The Company is an oil company engaged in the exploration and development, production and marketing of bitumen. The Company owns and operates 136 gross and net sections of oil sands leases and 166.5 gross sections of petroleum and natural gas rights in Great Divide, Thornbury and Quigley, all southwest of Fort McMurray, Alberta. The Company utilizes SAGD technology to extract bitumen from oil sands formations at Great Divide, which are located approximately 475 metres below the surface of its leases. The Company has two existing SAGD projects at Great Divide, Pod One and Algar, and an approved expansion project at Algar, the Algar Expansion Project.

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