Canadian Superior Energy Inc.
TSX : SNG
NYSE Amex : SNG

Canadian Superior Energy Inc.

September 10, 2009 08:22 ET

Canadian Superior Energy Inc. Announces New Board Members and Shareholder Approval of the Challenger Energy Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2009) - Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX:SNG)(NYSE Amex:SNG) announced that yesterday, at the Company's annual and special meeting of holders of common shares (the "Shareholders"), the Shareholders approved the plan of arrangement (the "Arrangement") involving the Company, Challenger Energy Corp. ("Challenger") and the shareholders of Challenger providing for the acquisition by the Company of Challenger. The Arrangement received overwhelming support of Shareholders.

Further information in regard to the Arrangement can be found in the Company's information circular dated August 12, 2009 which is available at www.sedar.com.

The new board of directors of Canadian Superior also received strong support with in excess of 90% of the Shareholders voting in favour of the new board which now includes Kerry R. Brittain, Marvin M. Chronister, Dr. James Funk, Dr. William Roach, Gregory G. Turnbull and Richard Watkins.

All other annual meeting resolutions were also approved by the Shareholders.

Canadian Superior Energy Inc. is a Calgary, Alberta, Canada based diversified global energy company engaged in the exploration and production of oil and natural gas, and liquefied natural gas ("LNG") projects, with operations offshore Trinidad and Tobago, offshore Nova Scotia, Canada, in Western Canada, in the United States and in North Africa. See Canadian Superior's website at www.cansup.com to review Canadian Superior's operations.

This news release contains forward-looking information, including the implementation of a plan of arrangement with Challenger Energy Corp. Actual results could differ materially due to intervening events or lack of court approval, and therefore, there can be no assurance that such action by the Company will be completed. Forward-looking information contained in this news release is as of the date of this news release. The Company assumes no obligation to update and/or revise this forward-looking information except as required by law.

Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporation's annual reports on Form 40-F or Form 20-F on file with the U.S. Securities and Exchange Commission.

Contact Information

  • Canadian Superior Energy Inc.
    Investor Relations
    (403) 294-1411
    (403) 216-2374 (FAX)
    or
    Canadian Superior Energy Inc.
    Suite 3200, 500 - 4th Avenue S.W.
    Calgary, Alberta, Canada T2P 2V6
    Website: www.cansup.com