Connacher Oil & Gas Ltd CLLZF

RE: $3.12 per basic common share

[luvplanes]

Beaverton, Where did you see proven and probable? I saw probable and possible only. No proven reserves will be assigned prior to start-up of production according to GLJ. In total, then, GLJ assigned 538 million barrels of probable and possible oil-in-place reserves and resources to Connacher’s existing land base, at its present stage of development. Initial and remaining recoverable reserves and resources aggregated 311.2 million barrels of bitumen. All reserve and resource estimates were done on a volumetric basis.