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NEWS RELEASE TRANSMITTED BY Marketwire
FOR:
Canadian Superior Energy Inc.
TSX SYMBOL:
SNG
AMEX SYMBOL:
SNG
Canadian Superior Energy Spuds "Endeavour" Well On "Intrepid" Block 5(c) Offshore Trinidad
SEP 2, 2008 - 08:12 ET
CALGARY, ALBERTA--(Marketwire - Sept. 2, 2008) - Canadian Superior Energy Inc. ("Canadian Superior") (TSX:SNG)(AMEX:SNG) announced today, as Operator of the "Intrepid" Block 5(c), that on August 28, 2008, it successfully spudded the "Endeavour" well with the Kan Tan IV semi-submersible drilling rig. The "Endeavour" well is located approximately 5.2 miles north from the recently announced "Bounty" natural gas discovery on the "Intrepid" Block 5(c). As of September 2, 2008, the "Endeavour" well has been spudded (August 28th), successfully drilled to a depth of 1,227 feet subsea where the 30" surface conductor casing was run and cemented in place; and, the next section of the hole, the 26" section, has been drilled to approximately 2,305 feet subsea (06:00 EDT).
The "Endeavour" well is planned to be drilled to a total vertical depth of approximately 18,000 feet subsea in about 940 feet of water and is expected to take approximately 100 days to drill. The Kan Tan IV semi-submersible drilling rig, which recently drilled the "Victory" and "Bounty" natural gas discovery wells on Canadian Superior's "Intrepid" Block 5(c), is drilling the "Endeavour" well, in this initial 3 well program.
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 and in Western Canada. See Canadian Superior's website at www.cansup.com to review Canadian Superior's operations in Western Canada, offshore Trinidad and Tobago and Offshore Nova Scotia 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. 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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Superior Energy Inc.
Investor Relations
(403) 294-1411
(403) 216-2374 (FAX)
Website: www.cansup.com
or
Canadian Superior Energy Inc.
Suite 3200, 500 - 4th Avenue S.W.
Calgary, Alberta
Canada T2P 2V6
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