Connacher Oil & Gas Ltd CLLZF

Connacher Increases Bought Deal Financing

[u308gold]

Connacher Oil increases financing to raise $45-million 2007-10-30 05:07 ET - News Release Shares issued 199,446,923 CLL Close 2007-10-29 C$ 3.99 Mr. Richard Gusella reports CONNACHER INCREASES BOUGHT DEAL FINANCING TO $45 MILLION Connacher Oil and Gas Ltd. has agreed to increase the size of the financing announced in Stockwatch Oct. 29, 2007. The corporation will now issue nine million flow-through common shares on a bought-deal basis for gross proceeds of $45-million ($5.00 per flow-through share). Connacher has granted the underwriters an overallotment option to purchase up to an additional 1.35 million flow-through shares on the same terms and conditions, exercisable in whole or in part up to 30 days following closing of the offering. The underwriting syndicate is led by RBC Capital Markets, and includes GMP Securities LP, Orion Securities Inc., Raymond James Ltd., TD Securities Inc., D&D Securities Company, Desjardins Securities Inc. and HSBC Securities (Canada) Inc. The offering is expected to close on or about Nov. 16, 2007.