After failing to land an acceptable construction loan, Calgary-based Connacher Oil and Gas Ltd. is issuing $150 million US worth of first lien secured notes to get its Algar thermal oilsands project back on track this summer. For full story, click here
After selling $200 million of first-lien senior secured notes, Connacher Oil & Gas Ltd., Calgary, announced that it would reactivate its plan to construct the Algar project, a project similar in size to its first steam-assisted gravity drainage project, Great Divide Pod-1, in northeastern Alberta. For full story, click here
Connacher Oil and Gas Ltd.’s declared that its Algar oilsands project will remain on hold for the time-being. For full story, click here
The company said that it has been advised that the Lieutenant Governor in Council, by Order in Council Number 525/2008, has authorized the Energy Resources Conservation Board to grant Approval No. 1253 to Connacher Oil and Gas Limited. For full story, click here For company’s website, click here
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