Connacher Selects Agent in the Arrangement of US Dollar Equivalent of C$140 million First Lien Term Loan Facility

Connacher Selects Agent in the Arrangement of US Dollar Equivalent of C$140 
million First Lien Term Loan Facility 
CALGARY, May 7, 2014 /CNW/ - Calgary, Alberta - Connacher Oil and Gas Limited 
(TSX: CLL) ("Connacher" or the "Company") has engaged Credit Suisse to act as 
sole lead arranger and sole bookrunner in the arrangement of a first lien term 
loan facility in an aggregate principal amount of US dollar equivalent of 
C$140 million (the "Term Loan Facility"). The Company's intention is to 
concurrently amend and reduce the existing $95 million amended and restated 
senior secured revolving credit facility (the "Credit Facility") to $30 
million. 
The syndication of the Term Loan Facility is another important milestone in 
the process to address the Company's short-term capital funding requirements. 
It is anticipated that the Term Loan Facility will provide the funds necessary 
to continue with the Connacher's growth capital program. 
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. 
Forward Looking Information 
This press release contains forward looking information, including but not 
limited to, the expectations relating to the arrangement of the Term Loan 
Facility and the amendment and reduction of the existing Credit Facility and 
the timing thereof. 
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:  that the Company may not be successful in the syndication of the 
Term Loan Facility, that the Term Loan Facility may not provide adequate funds 
to fund the Company's growth capital program, 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. 
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, 2013. 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 
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/May2014/07/c6995.html 
CO: Connacher Oil and Gas Limited
ST: Alberta
NI: OIL  
-0- May/07/2014 11:00 GMT
 
 
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