The K2 Principal Fund L.P. acquires common shares of Connacher Oil and Gas Limited

TORONTO, April 2, 2012 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 45,016,000 common shares of Connacher Oil and Gas Limited ("CLL"). As a result of the acquisition of such shares, K2 now owns approximately 10.04% of the issued and outstanding common shares of CLL.

The common shares were purchased by K2 in the open market on the Toronto Stock Exchange. K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of CLL through market transactions, private agreements or otherwise.

David Heden
The K2 Principal Fund L.P.
[phone]