Connacher Appoints Additional Directors

CALGARY, Oct. 16, 2015 /CNW/ - Connacher Oil and Gas Limited (CLC - TSX; "Connacher" or the "Company") today announced that Jason Hammerman and Evgeny Vasilyev have been appointed directors of Connacher.

Mr. Hammerman is a Vice President at Avenue Capital Management where he is responsible for identifying and analyzing investment opportunities for the Avenue U.S. Strategy.  Since joining Avenue in 2008, Mr. Hammerman has been researching and investing in the oil and gas industry as well as other industries, with an emphasis on those requiring financial and operational turnaround. Prior to joining Avenue, Mr. Hammerman was an Investment Banking Analyst with Jefferies & Company, Inc. where he provided advisory work for a wide range of industries including the energy sector. Mr. Hammerman received a B.S. in Finance and Accounting, with Beta Gamma Sigma distinction from the NYU Stern School of Business.

Mr. Vasilyev is a Portfolio Manager at VR Capital Group, where he focuses on the energy sector in North America. He joined VR in 2012 after receiving his MBA from Harvard Business School. He has over six years of prior experience at McKinsey & Company where he advised companies on a variety of strategic, operational, and marketing topics. Mr. Vasilyev also holds a bachelor degree from Moscow Institute of Physics and Technology.

About Connacher

Connacher 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.

SOURCE Connacher Oil and Gas Limited

Brent de Jong, Chairman and Interim Chief Executive Officer, Greg Pollard, Chief Financial Officer, Connacher Oil and Gas Limited, Phone: [phone], Fax: [phone], Suite 900, 332 - 6th Avenue SW, Calgary, Alberta T2P 0B2, [email protected], www.connacheroil.com