May 16 (Reuters) - Connacher Oil And Gas Ltd CLC.TO :
* Connacher Oil and Gas Limited intends to file for CCAA
protection and receives commitments for up to US$20 million of
financing
* To seek approval to initiate sale and investment
solicitation process to be conducted in conjunction with ccaa
proceedings
* At this time, there are no intended changes to management
team or composition of board of directors of company
* Will seek approval of appointment of Ernst & Young Inc. as
monitor to oversee ccaa proceedings
* Special committee of board determined it was in best
interests of company to apply for creditor protection under CCAA
Source text for Eikon: ID:nCNW0LvXMa
Further company coverage: CLC.TO