Canada Energy Partners Inc.

Canada Energy Partners Inc.

July 07, 2008 08:30 ET

Canada Energy Partners Inc. Announces Drilling of First Montney Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Canada Energy Partners Inc. ("Canada Energy" or the "Company") (TSX VENTURE:CE) is pleased to announce that drilling has commenced with the first Montney Formation exploration well on its lands in northeast British Columbia. This well is the first of a minimum of six Montney exploration wells planned for the next 9 months on the Company's lands. These six committed wells and four additional option wells targeting Montney and other deep formations will be drilled by the Company's joint venture partners at no cost to the Company.

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

John Proust, Director

Forward Looking Statements: This press release contains forward looking statements relating to expected or anticipated future events and operations, number of wells to be drilled, timing of projects and anticipated 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 companies' capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the companies that actual results achieved during the forecast period will be the same in whole or in part as that forecast.

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

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