XPL Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. ("Canadian Energy" or the "Company") (TSX
VENTURE:XPL) is pleased to announce it has spud the first of three exploratory
test wells in accordance with a previously announced Agreement with a major oil
and gas general partnership (the "Farmor") in the Hardy/Minton area of Southeast
Saskatchewan, CEEI Hardy South 05-27-04-21W2M (the "Well").


Under the Agreement, this well and the other two exploratory earning wells must
be drilled and completed, or abandoned, on or before March 31, 2011 or the
Company will pay $500,000 to the Farmor. 


The Well is licenced to a total depth sufficient to drill to 2300 meters and the
estimated costs associated with drilling and casing, completing or abandoning
the Well are $1,300,000.00.


The Agreement also provides that if the Company drills the initial three
exploratory test wells plus an additional two option wells, all by March 31,
2011, the Company will earn 100% working interest in approximately 35,200 acres
(55) sections. 


The proceeds from the sale of Flow-Through Shares in the previously announced
and closed private placement (October 21, 2010, and November 24, 2010) will be
used to incur certain types of Canadian Exploration Expense ("CEE") and/or
deemed CEE as defined in the Income Tax Act (Canada) and such CEE or deemed CEE
will be renounced to subscribers of Flow-Through Shares for the 2010 taxation
year. The net proceeds from the sale of the Common Shares will be used to fund
the Company's ongoing capital program and for general working capital purposes.


GRANTING OF OPTIONS

Effective November 29, 2010 the Board of Directors granted an aggregate of
3,210,000 options to officers, directors and consultants of which 1,760,000
options were granted to directors of the Corporation. 800,000 options represent
the right to purchase one (1) common share of the Corporation at an exercise
price of $0.39 per share on or before November 29, 2013 and 2,410,000 options
represent the right to purchase one (1) common share of the Corporation at an
exercise price of $0.39 per share on or before November 29, 2015. The grant of
options is subject to TSX Venture Exchange approval.


About Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. is a junior oil and gas company engaged in the
exploration for and development and production of oil and natural gas reserves
in Western Canada. The Company's common shares trade on the TSX Venture Exchange
under the symbol "XPL".


Advisory

Certain statements and information contained in this press release, including
but not limited to statements regarding the use of proceeds contain
forward-looking statements. All statements other than statements of historical
fact may be forward looking statements. These statements, by their nature, are
subject to numerous risks and uncertainties, some of which are beyond Canadian
Energy's control including the effect of general economic conditions, industry
conditions, changes in regulatory and taxation regimes, volatility of commodity
prices, escalation of operating and capital costs, currency fluctuations, the
availability of services, imprecision of reserve estimates, geological,
technical, drilling and processing problems, environmental risks, weather, the
lack of availability of qualified personnel or management, stock market
volatility, the ability to access sufficient capital from internal and external
sources and competition from other industry participants for, among other
things, capital, services, acquisitions of reserves, undeveloped lands and
skilled personnel that may cause actual results or events to differ materially
from those anticipated in the forward looking statements. Such forward-looking
statements, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially
from those anticipated in the statements made and should not unduly be relied
on. These statements speak only as of the date of this press release. Canadian
Energy does not intend and does not assume any obligation to update these
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable law. Canadian Energy's
business is subject to various risks that are discussed in its filings on the
System for Electronic Document Analysis and Retrieval (SEDAR).

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