Canadian Superior Announces New Natural Gas Discoveries in North West and Central Alberta.

Business Editors

CALGARY, Alberta--(BUSINESS WIRE)--June 18, 2001

Canadian Superior Energy Inc. ("Canadian Superior") (CDNX:SNG) of Calgary, Alberta announced today two new natural gas discoveries located at Earring in North West Alberta and in an undisclosed location in Central Alberta.

Canadian Superior states it has successfully completed the drilling and testing of two new exploration wells. "The first well located in the Earring area of North West Alberta at LSD 11-6-83-8 W6M was production tested at flow rates between 1.0 to 2.89 mmcf/d of natural gas with an average final stabilized rate of 2.28 mmcf/d. The second well drilled at an undisclosed location in Central Alberta tested at rates between 1.0 to 3.2 mmcf/d of natural gas with approximately 15 barrels/mmcf/d of natural gas liquids. The exact location of the Central Alberta well is being kept confidential pending upcoming land sales and land negotiations in the area. Canadian Superior has a 60% before and after payout working interest in the Earring discovery and a 100% before payout and 66 2/3% after payout working interest in the Central Alberta discovery. Tie-in operations are currently underway at both locations with several follow-up locations planned in both of these new exploration areas, with the first follow-up well to commence drilling on or before June 25, 2001."

"Canadian Superior's share of production from the new wells is expected to more than replace 1.7 mmcf/d of production recently sold to Hunt Oil Company of Canada Inc. for $18 Million. Canadian Superior has identified several new operating areas and the Company is moving forward with an exciting new exploration program targeting Western Canadian cash flow generation and world-class drilling prospects offshore Nova Scotia," Canadian Superior President, Greg Noval, said. After giving effect to the Hunt transaction, Canadian Superior has on hand approximately $28 Million of positive working capital which will allow Canadian Superior the opportunity to proceed forward aggressively for the balance of 2001.

Canadian Superior is a Calgary based oil and gas exploration and production company. The shares of Canadian Superior trade on the Canadian Venture Exchange (CDNX) under the stock symbol (SNG).

Certain information regarding the transaction outlined above may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results or estimates to differ materially from those anticipated or implied in the forward-looking statements.

The information contained herein has been neither approved nor disapproved by the Canadian Venture Exchange.