Canadian Energy Exploration Inc.

December 16, 2010 22:33 ET

Canadian Energy Exploration Inc. Hardy Minton Update, Southeast Saskatchewan

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2010) - Canadian Energy Exploration Inc. (TSX VENTURE:XPL) -

As previously announced by the Company (see press release dated November 29, 2010) the Company has spudded its first of three exploratory test wells in the Hardy/Minton area of southeast Saskatchewan at CEEI Hardy South 5-27-4-21W2M. Further the Company has cased this well, released the drilling rig, is proceeding to complete this well and anticipates swab results over the next 2 weeks.

Other than pending completion results from its first exploratory earning well, the Company is not aware of any new information that would lead it to determine any changes in its operations or plans. The Company has proceeded to licence 3 more exploratory well locations, including a twin to the current location, all in an effort to provide the Company with the maximum flexibility to determine its next steps and finalize earning under the previously announced September 28, 2010 Seismic Review and Option Agreement (see press release dated October 21, 2010.)

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".


Certain statements and information contained in this press release, including but not limited to statements regarding including statements regarding Canadian Energy's business, such as well results, 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 Canadian Energy'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. Canadian Energy 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. Canadian Energy'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