Canadian Energy Exploration Inc.
TSX VENTURE : XPL

January 21, 2011 09:46 ET

Canadian Energy Exploration Inc. Hardy Minton Operations Update, Southeast Saskatchewan

CALGARY, ALBERTA--(Marketwire - Jan. 21, 2011) - Canadian Energy Exploration Inc. (the "Company") (TSX VENTURE:XPL) is pleased to announce that the Company has spud its second of three previously announced exploratory test wells in the Hardy/Minton area of southeast Saskatchewan (see Press Release dated November 29, 2010.) The second test well is located at CEEI Hardy South 16-1-5-21W2M and is licensed to drill to a total depth of 2367 meters.

The Company is currently waiting on services with respect to its first exploratory test well located at 5-27-4-21W2M. These services will be used to continue to complete and evaluate all prospective formations in this vertically drilled well over the next few weeks.

The Company also announces that it has terminated the investor relations contract with DSK Consulting Ltd. (Scott Koyich) which was scheduled to terminate on March 1, 2011.

About Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. is a junior oil and gas company engaged in the exploration for and development and production of oil and natural gas reserves in Western Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "XPL".

Advisory

Certain statements and information contained in this press release, including but not limited to statements regarding including statements regarding the Company's business, such as drilling and completion of wells, contain forward-looking statements. All statements other than statements of historical fact may be forward looking statements. These statements, by their nature, are subject to numerous risks and uncertainties, some of which are beyond the Company's control including the effect of general economic conditions, industry conditions, changes in regulatory and taxation regimes, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing problems, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel that may cause actual results or events to differ materially from those anticipated in the forward looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated in the statements made and should not unduly be relied on. These statements speak only as of the date of this press release. The Company does not intend and does not assume any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The Company's business is subject to various risks that are discussed in its filings on the System for Electronic Document Analysis and Retrieval (SEDAR).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Canadian Energy Exploration Inc.
    Larry Buzan
    President and Chief Executive Officer
    (403) 229-2800
    buzan@cdnenergy.com