CALGARY, March 15, 2019 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) announces that it has obtained an order from the Alberta Court of Queen’s Bench extending the period of the Court-ordered stay of proceedings against Connacher under the Companies’ Creditors Arrangement Act (“CCAA”) until June 28, 2019. The Company has been operating under the protection of the CCAA since May 17, 2016.
All inquiries regarding Connacher’s CCAA proceedings should be directed to the Monitor, Ernst & Young Inc. The Monitor has established the following information hotline related to enquiries regarding the CCAA process, at 403-206-5650. In addition, information about the CCAA proceedings, including copies of all court orders and the Monitor’s reports, is available at the Monitor’s website, www.ey.com/ca/connacheroilandgas.
The Company does not intend to comment further regarding the CCAA process unless it is determined that further disclosure is appropriate or required by law.
Connacher is a Calgary-based in situ oil sands developer, producer, and marketer of bitumen. The Company’s principal asset is a 100 per cent interest in the Company’s Great Divide oil sands leases near Fort McMurray, Alberta. The Company operates two steam-assisted gravity drainage facilities at these oil sands leases.