Canadian Superior Energy Inc.
TSX : SNG
AMEX : SNG

Canadian Superior Energy Inc.

October 14, 2008 08:59 ET

Canadian Superior Successfully Runs 13-5/8" Casing on Endeavour Trinidad Well

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2008) - Canadian Superior Energy Inc. ("Canadian Superior", the "Company") (TSX:SNG) (AMEX:SNG) announced today, as Operator of the "Intrepid" Block 5(c), that it has completed the drilling, logging, casing and cementing of the 13-5/8" casing in the "Endeavour" well to a depth of 9,858 feet subsea; and as of 06:00 AM EDT today, Tuesday October 14,2008, have drilled the next section of the well, the 12-1/4" hole section, to a depth of 10,795 feet subsea. The "Endeavour" well was spudded on August 28, 2008 and, as reported previously, drilling has been going well and the well has been drilled successfully and cased with 30", 20", 16" and 13-5/8" casing to date.

The well is planned to be drilled to a total depth of approximately 18,000 feet subsea and the primary objective includes proving up higher pressure horizons like those seen in "Bounty" with a secondary objective including at least one of the productive horizons penetrated in the "Victory" well.

Speaking today, Greg Noval, Canadian Superior's Chairman, said, "I'm pleased to report that drilling operations have been going quite well. At this rate, we will complete drilling this 12-1/4" section of the well before the end of the 4th week in October; to a depth of just over 15,000 feet."

Speaking further, Mike Coolen, the Company's President and Chief Operating Officer, said, "One of the main targets for the well is expected to be encountered in the 12-1/4" hole section of the well which is currently being drilled; and, with the verification of our 3-D seismic interpretation that the 'Victory' and 'Bounty' discoveries have provided, we remain confident that the 'Endeavour' results will meet or exceed our expectations."

The "Endeavour" well is being drilled by the Kan Tan IV semi-submersible drilling rig in about 1,000 feet of water, which also drilled the "Victory" and "Bounty" natural gas discovery wells on this block.

Daily Updates of drilling progress at "Endeavour" can be viewed on Canadian Superior's website www.cansup.com.

Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily 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 and 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