XPL Canadian Energy Exploration Inc.

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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