Connacher Provides Third Quarter 2013 Operational Update and Conference Call Details

Connacher Provides Third Quarter 2013 Operational Update and Conference Call 
Details 
CALGARY, Oct. 15, 2013 /CNW/ - Connacher Oil and Gas Limited (TSX:CLL) 
("Connacher" or the "Company") provides the following operational update for 
the third quarter 2013 ("Q3 2013") and the timing and call-in details for the 
Q3 2013 investor conference call. 
Production
Connacher's Great Divide production for Q3 2013 averaged 11,800 bbl/d based on 
field estimates. Production was 2% higher than the prior quarter (Q2 2013 
11,572 bbl/d). 
September production averaged 12,100 bbl/d based on field estimates. During 
the month the four infill wells at Pod One were converted to production. The 
infill wells were each steamed for approximately 30 days and all four wells 
were on production by the end of September. Connacher had previously expected 
that these wells would be on production by the end of Q4 2013. 
Operations
The Company began steaming the four new well pairs at Pad 104 at the end of 
September. These wells are expected to be ready to convert to production 
after approximately 90 days. 
The SAGD+® process trial is continuing on 203-1 through to the end of 2013. 
The trial on 203-4 was discontinued to allow for flexibility in the ongoing 
trial at 203-1. Results from the SAGD+® process continue to demonstrate 
commerciality through increased recovery and lower steam oil ratios. 
A key operational focus has been to reduce the amount of diluent used in our 
process and dilbit sales. The diluent blend ratio ("DBR") averaged 18.5% in Q3 
2013 based on field estimates, which is the lowest average ratio achieved in a 
quarter to date. 
Marketing
In Q3 2013 bitumen volumes moved to customers outside of Alberta averaged 
approximately 10,850 bbl/d (92% of total bitumen sales) compared to 
approximately 9,200 bbl/d (80% of total bitumen sales) in Q2 2013. The balance 
of the bitumen sales were to intra-Alberta markets. 
Connacher successfully completed the first test of an 80 car unit train in 
September. Moving dilbit utilizing unit trains can significantly reduce the 
turnaround time of rail cars from customers and materially reduce 
transportation costs. 
For the balance of 2013, the Company has 7,650 bbl/d of production hedged at 
minimum WTI prices ranging from US$89-$100. For 2014, the Company has 
approximately 4,700 bbl/d hedged at minimum WTI prices ranging from US$90-$96. 
Q3 2013 Conference Call Details
Connacher will host its quarterly conference call on November 14, 2013 at 8AM 
MDT. Interested participants can call in to (888) 231-8191. Please use the 
Conference ID# 87705434. Participants are encouraged to call in 5 minutes 
prior to commencement. 
About Connacher
Connacher is a Calgary-based in-situ oil sands developer, producer and 
marketer of bitumen. The Company holds a 100 percent interest in approximately 
500 million barrels of proved and probable bitumen reserves and operates two 
steam assisted gravity drainage ("SAGD") facilities located on the Company's 
Great Divide oil sands leases near Fort McMurray, Alberta. 
Forward Looking Information
This press release contains forward looking information including expectations 
for the timing of converting wells to production, the continuation of SAGD+® 
process trials and the continued sustainability of the reduction in the DBR. 
Forward looking information is based on management's expectations regarding 
the Company's future financial position, the Company's future growth, results 
of operations and production, future commodity prices and foreign exchange 
rates, future capital and other expenditures (including the amount, nature and 
sources of funding thereof), plans for and results of drilling activity, 
environmental matters, business prospects and opportunities and future 
economic conditions. Forward looking information involves significant known 
and unknown risks and uncertainties, which could cause actual results to 
differ materially from those anticipated. These risks include, but are not 
limited to: the risks associated with the oil and gas industry (e.g., 
operational risks in development, exploration and production; delays or 
changes in plans with respect to exploration or development projects or 
capital expenditures; the uncertainty of reserve and resource estimates, the 
uncertainty of geological interpretations, the uncertainty of estimates and 
projections relating to production, costs and expenses, and health, safety and 
environmental risks), risk of commodity price and foreign exchange rate 
fluctuations, risks associated with the impact of general economic conditions, 
risks and uncertainties associated with maintaining the necessary regulatory 
approvals and securing the financing to proceed with the operation and 
continued expansion of the Great Divide oil sands project. 
In addition, reported average production levels may not be reflective of 
sustainable production rates and future production rates may differ materially 
from the production rates reflected in this press release due to, among other 
factors, difficulties or interruptions encountered during the production of 
bitumen. 
Additional risks and uncertainties affecting Connacher and its business and 
affairs are described in further detail in Connacher's Annual Information Form 
for the year ended December 31, 2012. Although Connacher believes that the 
expectations in such forward looking information are reasonable, there can be 
no assurance that such expectations shall prove to be correct. The forward 
looking information included in this press release is expressly qualified in 
its entirety by this cautionary statement. The forward looking information 
included herein is made as of the date of this press release and Connacher 
assumes no obligation to update or revise any forward looking information to 
reflect new events or circumstances, except as required by law.
 

SOURCE  Connacher Oil and Gas Limited 
Contact 
Chris Bloomer Chief Executive Officer 
Greg Pollard 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 
inquiries@connacheroil.com www.connacheroil.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2013/15/c4116.html 
CO: Connacher Oil and Gas Limited
ST: Alberta
NI: OIL  
-0- Oct/15/2013 23:01 GMT
 
 
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