Canadian Superior and Challenger Energy Announce Moving Offshore Semi-Submersible Rig to "Bounty" Well

PORT OF SPAIN, TRINIDAD AND TOBAGO (TSX: SNG) (AMEX: SNG) and Challenger Energy Corp. ("Challenger") (TSX VENTURE: CHQ) (AMEX: CHQ) jointly announced today that the Kan Tan IV semi-submersible drilling rig is under tow by two towing vessels, Tidewater, Inc.'s (NYSE: TDW), "Carl F. Thorne", and A.P. Moller - Maersk A/S' (OMX:MAERSK B), "Maersk Puncher", and on the move from the "Victory" well site to the "Bounty" well site, offshore Trinidad on the "Intrepid" Block 5(c). The well sites are about 2.2 miles apart. The rig move had been delayed until today due to unusually high seas in the area with maximum wave heights in excess of 15 feet making it impossible to move the semi-submersible drilling rig until earlier today. Canadian Superior and Challenger will be providing further market updates regarding the spudding of the "Bounty" well over the next few days.

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 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.

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 www.chaenergy.ca for information on Challenger.

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 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, 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.

Contacts: Canadian Superior Energy Inc. Investor Relations (403) 294-1411 (403) 216-2374 (FAX) Website: www.cansup.com Canadian Superior Energy Inc. Suite 2700, 605 - 5th Avenue S.W. Calgary, Alberta Canada T2P 3H5 Challenger Energy Corp. Dan MacDonald CEO and President (403) 503-8810 (403) 503-8811 (FAX) Website: www.chaenergy.ca Challenger Energy Corp. Suite 200, 744 - 4th Avenue S.W. Calgary, Alberta Canada T2P 3T4

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