Canadian Superior Energy Inc.
TSX : SNG
NYSE Alternext US : SNG

Canadian Superior Energy Inc.

May 01, 2009 09:13 ET

Canadian Superior Announces Filing of 2008 Financial and Operating Results and Appointment of Chief Operating Officer

CALGARY, ALBERTA--(Marketwire - May 1, 2009) - Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX:SNG) (NYSE Alternext US:SNG) announced today the release of its 2008 year end financial results. The "Management's Discussion and Analysis" and audited consolidated financial statements for the year ended December 31, 2008, can be viewed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

In addition Canadian Superior announced it has filed its statements of reserves data and other oil and gas information for the year ended December 31, 2008 (the "Statement of Reserves Data"), as mandated by National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. The Statement of Reserves Data is included in the annual information form of Canadian Superior for the year ended December 31, 2008 (the "AIF"). Copies of Canadian Superior's AIF may be obtained on SEDAR.

The Company also announced the appointment of Mr. Leif Snethun, P.Geol, to the position of Chief Operating Officer effective April 30, 2009. Mr. Snethun has 25 years of experience in the upstream sector of the oil and gas industry, and has served at both the executive and board of director's levels. Prior to joining Canadian Superior, Mr. Snethun was the founder, President and CEO of Seeker Petroleum Ltd. a private oil and gas exploration company based in Calgary, Alberta which was purchased by Canadian Superior in March of 2008. Mr. Snethun joined the Company in March of 2008, and held the position of Vice President for Western Canada until his appointment as Chief Operating Officer.

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 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 in Western Canada, offshore Trinidad and Tobago, offshore Nova Scotia interests, in the USA and its North Africa interests. Canadian Superior has approximately 20,000 shareholders worldwide, including some of the top institutional shareholders in North America.

This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may or relates to future production, resource potential and/or reserves, project start-ups and future capital spending. 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". Actual results, estimates, projections, resource potential and/or reserves, interpretations, prognoses and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the term "undiscovered natural gas resources", which are those quantities of natural gas estimated to be contained in accumulations yet to be discovered. There is no certainty that any portion of undiscovered resources (oil, natural gas, natural gas liquids or other hydrocarbons) will be discovered and that, if discovered, in this or any other discovery, the discovered resource may not be economically viable or technically feasible to produce.

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 Corporations' 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