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    DISSEMINATION IN THE UNITED STATES/

    CALGARY, May 11 /CNW/ - Connacher Oil and Gas Limited (CLL-TSX) is
pleased to announce the results of its Annual and Special Meeting held on
May 10, 2007. At this meeting, shareholders re-elected the incumbent
directors, being Charles W. Berard, D. Hugh Bessell, Colin M. Evans, Richard
A. Gusella, Stewart D. McGregor and W.C. (Mike) Seth, and reappointed Deloitte
& Touche LLP, as auditors of the company. Shareholders also approved the
establishment of a new Stock Option Plan reflective of recent changes in TSX
rules for employees, officers and consultants, approved a provision for the
issuance from treasury of common shares of the company to non-management
directors as partial remuneration for their services in accordance with the
company's Share Incentive Award Plan, confirmed and ratified the company's
bylaws and adopted a Shareholder Rights Plan (the "Plan"), all as described in
the company's Information Circular dated March 23, 2007. Copies of the
company's bylaws and the Plan will be available on www.sedar.com.
    In connection with the adoption of the Plan by shareholders, the company
issued one right in respect of each common share of the company outstanding at
the close of business on May 10, 2007 (the "Record Time") and authorized the
issuance of one right in respect of each additional common share issued after
the Record Time (including any common shares issued upon conversion,
redemption or maturity of the convertible senior secured debentures to be
issued in connection with the company's recently announced financing). The
rights trade with and are represented by Connacher's common share
certificates, including certificates issued prior to the Record Time. Until
such time as the rights separate from the common shares and become
exercisable, rights certificates will not be distributed to shareholders.
    The issuance of the rights is not dilutive and will not affect reported
earnings or cash flow per share until the rights separate from the underlying
common shares and become exercisable or until the exercise of the rights. The
issuance of the rights will not change the manner in which shareholders
currently trade their common shares.
    The adoption of the Plan will not in any way lessen or affect the duty of
the Board of Directors to act honestly and in good faith with a view to the
best interests of the company. The Board of Directors, when a takeover bid or
similar offer is made, will continue to have the duty and power to take such
actions and make such recommendations to shareholders as are considered
appropriate. The Plan was not adopted in response to, or in anticipation of,
any specific takeover bid for Connacher.
    Connacher is also pleased to announce the promotion of Mr. Russell
Longley, P.Eng., to the position of Vice President, Operations of the company,
effective immediately. Mr. Longley has been with the company since January
2007 and in his previous position he was responsible for management of
operations and exploitation of Connacher's conventional properties. He is a
graduate of Montana Tech of the University of Montana and of the Northern
Alberta Institute of Technology. Prior to his employment with Connacher, Mr.
Longley progressed in roles of increasing responsibility in engineering and
operations management with an oil and gas royalty trust, a large independent
Canadian oil and gas company and prior thereto was instrumental in the
startup, growth and divestment of a private gas exploration company.
    Mr. Longley will be based at the company's head office in Calgary,
Alberta and will focus on the growth of the company's oil, gas and bitumen
operations.