Canadian Superior Energy Inc. ("Canadian Superior", the "Company")
(TSX: SNG) (AMEX: SNG) announced today that Canadian Superior,
along with 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), having
drilled the "Endeavour" well offshore Trinidad to a depth of
approximately 17,063 feet subsea in the final section of the well
and into the main target zone for the well, have decided to
re-drill the final section of the well with a mechanical sidetrack.
Further drilling in the previously drilled final section is no
longer practicable due to well bore damage that occurred during
recent well control operations. Well control operations were
initiated to manage an uncontrolled flow into the well that
occurred during routine drilling operations while replacing a worn
drill bit.
Speaking today, Mike Coolen, Canadian Superior's President &
CEO, said, "The geological data obtained from the drilling to date
of 'Endeavour' is very encouraging. When drilling was stopped to
replace a worn drill bit, the data indicates that we had
encountered, and were still drilling in, the main targeted zone for
this well. Logging While Drilling ('LWD') data indicates that we
have penetrated the main targeted zone; and, that the 'Endeavour'
well has encountered approximately 162 feet of gross reservoir
quality sands over a 168 foot interval to this point. While the
data in hand is very useful; it is preferable to drill further into
the main target zone to better determine the full extent of the
reservoir and to obtain additional information, including full
wireline logs, to further evaluate the various reservoir parameters
and to have timely data in hand for forward scheduling of any
possible appraisal work required. The sidetrack drilling is planned
to start just as soon as the blowout preventer ("BOP") undergoes a
necessary repair to allow drilling to proceed."
The "Endeavour" well was spudded on August 28, 2008 and has a
planned approximate final total depth ("TD") of about 18,000 feet.
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; and is the 3rd well, in an initial 3 well program,
being drilled by Canadian Superior and its partners on the
"Intrepid" Block, Block 5(c), located approximately 60 miles
offshore, off the east coast of Trinidad. "Endeavour" is being
drilled on a separate prospect determined from the analysis and
evaluation of extensive 3D seismic on the "Intrepid" Block 5(c).
Earlier this year, Canadian Superior announced two separate natural
gas discoveries on Block 5(c); in the "Victory" well, announced on
January 14, 2008; and, in the "Bounty" well, announced on August
13, 2008.
Daily Updates of drilling progress at "Endeavour" can be viewed
on Canadian Superior's website www.cansup.com.
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
("LNG") 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.
Canadian Superior is paying 26-2/3% of the Block 5(c)
exploration program cost to maintain a 45% working interest in
Block 5(c), with its partners, BG International Limited, a wholly
owned subsidiary of the BG Group plc, paying 40% for a 30% working
interest and Challenger Energy Corp. paying 33-1/3% for a 25%
working interest through Canadian Superior.
BG Group plc (LSE: BG.L) is a world leader in natural gas, with
a strategy focused on connecting competitively-priced resources to
specific, high-value markets. Active in 27 countries on five
continents, BG Group has a broad portfolio of exploration and
production, Liquefied Natural Gas (LNG), transmission and
distribution and power generation business interests. It combines a
deep understanding of gas markets with an excellent track record in
finding and commercialising reserves. 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. See
www.challenger-energy.com 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,
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.
Contacts: Canadian Superior Energy Inc. Investor Relations (403)
294-1411 (403) 216-2374 (FAX) Website: www.cansup.com Canadian
Superior Energy Inc. Suite 3200, 500 - 4th Avenue S.W. Calgary,
Alberta, Canada T2P 2V6
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