Canadian Superior Energy Inc.
TSX : SNG
AMEX : SNG

Canadian Superior Energy Inc.

December 17, 2007 08:20 ET

Canadian Superior Energy Announces Casing and Flow Testing of "Victory" Well Offshore Trinidad

PORT OF SPAIN, TRINIDAD AND TOBAGO--(Marketwire - Dec. 17, 2007) - Canadian Superior Energy Inc. ("Canadian Superior") (TSX:SNG)(AMEX:SNG) announced today, as Operator of the "Victory" well offshore Trinidad, that Canadian Superior and its partners, BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE:BG.L) and Challenger Energy Corp. ("Challenger") (TSX VENTURE:CHQ)(AMEX:CHQ) have unanimously agreed to case and conduct flow tests on the 16,150 foot "Victory" well located approximately 60 miles off the east coast of the island of Trinidad.

Speaking today, Craig McKenzie, Canadian Superior's Chief Executive Officer, said, "We are pleased to move forward with our partners to conduct flow tests on the 'Victory' well. We have completed the wireline logging and are now proceeding with casing the final section of the well. The testing operation will take approximately 30 days, after which we will then commence operations on our next well, the 'Bounty', as we continue our initial three well programme on the 'Intrepid' Block 5(c) offshore Trinidad."

Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. See Canadian Superior's website at www.cansup.com to review the company and its operations. Canadian Superior has approximately 20,000 shareholders worldwide, including top institutional shareholders in North America.

BG Group plc is a global natural gas business. Active on five continents in over 25 countries, it operates four business segments - Exploration and Production, LNG, Transmission and Distribution and Power. (See www.bg-group.com for information on BG Group plc).

Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore Trinidad and Tobago and offshore Nova Scotia. (See Challenger's website at www.chaenergy.ca).

This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may or relates to future production, project start-ups and future capital spending. Actual results, estimates, projections, 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 the undiscovered resources will be discovered and that, if discovered, it 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, 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)
    Website: www.cansup.com
    or
    Canadian Superior Energy Inc.
    Suite 2700, 605 - 5th Avenue S.W.
    Calgary, Alberta
    Canada T2P 3H5