Palo Alto Investors Requests Canadian Superior Shareholder Meeting

Palo Alto Investors, LLC (�PAI�), an investment advisory firm, announced today that it has requisitioned a special meeting of shareholders of Canadian Superior Energy Inc. (�Canadian Superior� or the �Company�) (TSX: SNG) (AMEX:SNG). The primary purpose of the meeting will be to vote on the removal of the incumbent Board of Directors of Canadian Superior and on PAI�s replacement slate of nominees to the Board of Directors.

David Anderson, Head of Energy Research and a Partner at PAI, said "This is the result of a culmination of events. We believe the Board�s action, and in many cases, their inaction, has left us no choice. Recent developments relating to the Company�s key strategic assets in Trinidad, as well as the ongoing conflicts of interest at the Board level, have forced us to take this step. The Board has a fiduciary duty to act in the best interests of the Company. Recent events suggest that this Board may have lost sight of that duty.�

PAI, a shareholder of Canadian Superior since 2002, believes the value of the Company�s assets are not reflected in the Company�s share price primarily due to a lack of confidence in the Board of Directors and management. �Palo Alto Investors has publicly requested Board improvements due to the changing nature of the Company�s operations. Our requests for enhanced governance have fallen on deaf ears,� said Mr. Anderson. �A new Board of Directors will bring the appropriate strategic guidance and a renewed commitment to the protection of shareholder interests.�

Further information will be provided in a dissident proxy circular to be filed with Canadian securities regulatory authorities.

About Palo Alto Investors

Since its inception in 1989, PAI has focused exclusively on overlooked, misunderstood and undervalued segments of the equity markets. PAI is committed to providing world class money management services to high net worth and institutional investors. Located in Palo Alto, Calif., PAI employs 22 professionals and manages over $1 billion in assets. The firm is independently owned with significant Partner ownership interest.

Canadian Superior (AMEX:SNG)
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