Connacher Welcomes New President

Connacher announced that arising out of its succession planning process, Mr. Peter Sametz has been appointed President of the company. He will continue his role as Chief Operating Officer. Mr. Richard A. Gusella will assume the position of Chairman and will continue as Chief Executive Officer.

Mr. Sametz is a Professional Engineer and has been with the company for over five years, most recently in the position of Executive Vice President and Chief Operating Officer. In addition, Mr. Sametz has directed the development of Connacher's conventional assets in Western Canada and its refining operations in Great Falls, Montana.

Mr. Gusella has been President and Chief Executive Officer of Connacher since 2001. He will continue as Chairman and Chief Executive Officer and will be responsible for the overall conduct of Connacher's business plans and growth activities with a view to retirement from discharging executive responsibility by May, 2014 when he reaches the age of 70 years. In the intervening period, he plans to continue working closely with Mr. Sametz in achieving clearly stated goals and objectives for the company.

Connacher also announced the appointment of Mrs. Brenda G. Hughes, C.A. to the position of Assistant Corporate Secretary. Brenda has extensive industry experience with a variety of Canadian crude oil and natural gas companies.

Connacher is pleased to be able to plan its future management responsibilities with internal promotions and recognition of individual contributions to the growth and prospective prosperity of the company for its shareholders.