GREY:CLLZF - Post by User
Post by
dtalon Feb 07, 2008 10:04am
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Post# 14331432
Goggle Alert Feb 5th
Goggle Alert Feb 5thFebruary 4, 2008
Connacher Oil and Gas Limited announces that it continues to hit and exceed milestones for its projects this winter. The current financial market turmoil is not affecting Connacher's progress or business activities.
At Great Divide, Connacher's SAGD project continues to meet and exceed milestones on its ramp up to 10,000 barrels per day of bitumen.
For the month of January 2008, the company is anticipating sales of over 40,000 barrels of raw bitumen, which are approximately double the originally anticipated volumes for the month.
Production of raw bitumen has recently exceeded 2,000 barrels per day. Seven well pairs have now been "flipped over" to SAGD production and consistent with the ramp up process, are at various stages of contribution to total volumes as individual wells also undergo a ramp up process.