Canadian Superior Energy Inc. (”Canadian Superior” or the “Company”) (TSX:SNG - News)(AMEX:SNG - News) announced today that it has received from BG International Limited (”BGI”) a notice of election regarding BGI’s right of first refusal dated June 30, 2009 in respect of the agreement of purchase and sale dated June 1, 2009 between Canadian Superior and Centrica Resources Limited (the “Centrica Agreement”). Information regarding the Centrica Agreement can be found in the news release of the Company dated June 2, 2009. BGI’s right of first refusal with respect to the Company’s interest in Block 5(c) arises pursuant to a joint operating agreement among Canadian Superior, BGI and Challenger Energy Corp.

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 projects, with operations offshore Trinidad and Tobago, offshore Nova Scotia, Canada, in Western Canada, in the United States and in North Africa. For further information about the Company’s operations, visit Canadian Superior’s website at www.cansup.com. Canadian Superior has approximately 20,000 shareholders worldwide.

This news release may contain forward-looking information regarding the notice of exercise of right of first refusal and the Centrica Agreement. 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 could differ materially due to changes in project schedules, commercial negotiations or other technical and economic factors or revisions.

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 Company’s annual reports on Form 40-F or Form 20-F on file with the U.S. Securities and Exchange Commission.

Posted on Friday, July 3rd, 2009 at 3:47 pm and is filed under Energy Companies.
Tags: BG Group Plc, BG International Limited, Block 5, Canadian Superior Energy Inc., Centrica Resources Limited, Challenger Energy Corp., Fecher Block, Partnership.