Canada Energy Partners Inc.

Canada Energy Partners Inc.

December 12, 2007 08:30 ET

Canada Energy Increases Non-Brokered Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2007) - Canada Energy Partners Inc. (the "Company") (TSX VENTURE:CE) is pleased to announce an increase to its previously announced non-brokered financing (the "Financing"). The gross proceeds to be raised by the Company in the Financing have been increased from a maximum of $5,000,000 to a maximum of $5,250,000. The Financing will include CEE flow-through shares at a price of $0.60 per share, CDE flow-through shares at a price of $0.52 per share and common shares at a price of $0.52 per share. The Company will pay finders' fees where applicable in cash up to 7% of the gross proceeds raised, and issue finders' warrants exercisable for up to 7% of the number of shares sold, exercisable at a price of $0.60 per share for a period of 12 months from the closing of the Financing. All securities will be subject to a hold period of four months from the closing of the Financing. The Financing is subject to regulatory approval.

On behalf of the Board of Directors of Canada Energy Partners Inc.

John Proust, Director

Forward-looking statements: This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Act of 1995.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

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