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Connacher Provides Operational Update
Connacher Provides Operational Update Connacher Provides Operational Update Cana...
About this update from Christina Lake Cannabis Corp
[{"type":"text","content":"\n\n\n\nConnacher Provides Operational Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nConnacher Provides Operational Update\nCanada NewsWire\nCALGARY, Jan. 18, 2016\n\n\n\nCALGARY, Jan. 18, 2016 /CNW/ - Connacher Oil and Gas Limited (CLC – TSX; \"Connacher\" or the \"Company\") announces that in light of exceptionally low commodity prices, the Company plans to further reduce production at Great Divide.\n\nAverage production for the month of January is expected to be 7,000 to 8,000 barrels per day. February and March production is expected to be 3,000 to 4,000 barrels per day. Both plants at Great Divide will remain operating the majority of this time and equipment maintenance is ongoing. \n\nBased on field estimates, Connacher's Great Divide production for Q4 2015 averaged approximately 13,900 barrels per day. Connacher ended the year with a $47.2 million cash position and plans to actively maximize liquidity through this challenging environment.\n\nAbout Connacher\n\nConnacher is a Calgary-based in-situ oil sands developer, producer and marketer of bitumen. The Company holds a 100 percent interest in approximately 440 million barrels of proved and probable bitumen reserves and operates two steam assisted gravity drainage facilities located on the Company's Great Divide oil sands leases near Fort McMurray, Alberta. For more information about Connacher please visit www.connacheroil.com. \n\nForward Looking Information\n\nForward looking information is based on management's expectations regarding the Company's future financial position, the Company's future growth, results of operations and production, future commodity prices and foreign exchange rates, future capital and other expenditures (including the amount, nature and sources of funding thereof), plans for and results of drilling activity, environmental matters, business prospects and opportunities and future economic conditions. Forward looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These...