Connacher Oil & Gas Ltd CLLZF

Buyout,Buyout,Buyout ????

[cartach13]

With all the recent chatter about imminent buyout how come no discussion about Shareholder Rights Plan adopted May 10,2007 as per Cll news release May 11,2007 and Material Change Report [form 51-102F3] posted later on www.sedar.com. ? Or have I missed something and has it maybe been rescinded or cancelled ? Important consideration if Resolute has approached the 20% share ownership mark and stays there and at the same time other institutional funds continue to accumulate. Would add weight to possibility that something is in the wind. As I understand it , in the event of takeover/buyout attempt which is not approved by the Company, the SP plan allows shareholders Rights issued May/07 [one Right per share owned] to separate from common shares owned by individual shareholders, and for each common share owned the holder will be allowed to purchase an additional share at a 50% discount from the market price. Also if an acquiring person or group owns 20% or more of the total of outstanding shares, their Rights become void.