CANADIAN ENERGY EXPLORATION INC. ANNOUNCES ANNUAL INFORMATION FORM FILING AND CORPORATE UPDATE
24 Marzo 2011 - 5:49PM
PR Newswire (Canada)
CALGARY, March 24 /CNW/ -- CALGARY, March 24 /CNW/ - Canadian
Energy Exploration Inc. (the "Company") (TSXV - "XPL") is pleased
to announce that it has filed it's Annual Information Form which
incorporates the Company's reserves data and other oil and gas
information for the year ended December 31, 2009 as mandated by
National Instrument 51-101 Standards of Disclosure for Oil and Gas
Activities of the Canadian Securities Administrators. A copy
of the Company's Annual Information Form can be obtained on the
System for Electronic Document Analysis and Retrieval website at
www.sedar.com or by contacting the Company. Subsequent to filing
its Annual Information Form, the Company announces that Mr. David
Stadnyk has resigned as a director of the Company. The
Company wishes to thank Mr. Stadnyk for his contributions to the
Company and wish him success in his future endeavours. The
Board of Directors of the Company consists of Chris J. Bloomer,
Lawrence B. Buzan, William S. Sudhaus (Chairman), George Tsafalas
and John D. Wright. Operational Update The Company has prepared
both of the first and third exploratory wells at 5-27-4-21W2M and
the well at 5-17-5-21W2M for further evaluations in the Bakken
formation. Both wells have similar pay and porosity on well logs to
an offsetting producing Bakken well at 2-16-4-21W2M currently
producing 58 bbl/d as press released by the operator. Based on the
Company's 3D seismic evaluation, a Bakken structure extends over
approximately 12 sections of the Company's earned sections under
its farmin option and over 1 section the Company recently purchased
at the February 7, 2011 Saskatchewan Crown land sale. The Company's
second exploratory well at 16-1-5-21W2M is prepared for further
evaluations in the Ratcliffe formation. Spring weather conditions
have forced the local governmental agencies to impose road bans in
the Hardy Minton area of Saskatchewan and all operators are now
limited to minor activities on all operations until road bans are
lifted. The Company intends to continue operations as soon as road
bans are lifted. Further information can be obtained by viewing the
Company's web site at www.cdnenergy.com. 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". Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Advisory Certain
statements and information contained in this press release 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 the
Company'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.
The Company 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. The Company's business is subject to various
risks that are discussed in its Annual Information Form and other
filings available on the System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/March2011/24/c6230.html
p bCanadian Energy Exploration Inc. /bbr/ bLarry Buzan,
President and/b br/ bChief Executive Officer/b /p p P: (403)
229-2800 br/ E-mail: ua
href="mailto:buzan@cdnenergy.com"buzan@cdnenergy.com/a/u /p
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