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Press release from CNW Group

Information for the Shareholders of Connacher regarding the upcoming Annual and Special Meeting of Shareholders

Monday, May 09, 2011

Information for the Shareholders of Connacher regarding the upcoming Annual and Special Meeting of Shareholders16:32 EDT Monday, May 09, 2011CALGARY, May 9 /CNW/ - Connacher Oil and Gas Limited (TSX: CLL) would like to provide the following information to the Shareholders regarding the Company's upcoming Annual and Special Meeting of Shareholders (the "Meeting"):ISS Proxy Advisory Services ("ISS") reported today that ISS recommends its subscribers vote "FOR" all resolutions at the Meeting; andSubsequent to the mailing of the Company's Management Information Circular (the "Circular") for the Meeting, Connacher's Board of Directors has approved an amendment (the "Amendment") to the draft Share Unit Plan (the "Plan") described in the Circular, to reduce the maximum number of Common Shares of the Company reserved for issuance pursuant to units granted under the Plan, from 8,000,000 to 5,000,000 Common Shares. The Amendment is subject to approval of the Toronto Stock Exchange.The Meeting is being held at 3:00 PM MDT on Tuesday, May 17, 2011 in the McMurray Room at the Calgary Petroleum Club in Calgary.Your vote is important. The Company would like to encourage all Shareholders who have not yet submitted their Voting Instructions or wish to amend their Voting Instructions to do so as soon as practical. All proxies must be received no later than 3:00 P.M. (Calgary time) on May 13, 2011. Shareholders who require assistance in voting their proxy may direct their inquiry to Connacher's proxy solicitation agent, Phoenix Advisory Partners, at 1-800-504-7752 or inquiries@phoenixadvisorypartners.com.Connacher Oil and Gas Limited is a Calgary-based exploration, development and production company active in the production and sale of bitumen, crude oil, natural gas and natural gas liquids. Our principal assets are our holdings in the Great Divide oil sands project in northern Alberta.  We also hold conventional light gravity crude oil and natural gas properties in Alberta.  A wholly-owned subsidiary operates a 9,500 bbl/d heavy crude oil refinery in Great Falls, Montana.For further information: Richard A. Gusella Chairman and Chief Executive Officer OR Peter D. Sametz President and Chief Operating Officer OR Grant D. Ukrainetz Vice President, Corporate Development Phone:  (403) 538-6201     Fax:  (403) 538-6225 inquiries@connacheroil.com Website:  connacheroil.com