Canadian Superior Awaits Historic Trinidad and Tobago Bid Round Results: Provides Offshore Trinidad Activity Update.

Energy Editors/Business Editors

CALGARY, Alberta, PORT OF SPAIN, Trinidad & Tobago, & HALIFAX, Nova Scotia--(BUSINESS WIRE)--Feb. 17, 2004--

Offshore Nova Scotia "Mariner" I-85 Well Proceeding

Ahead To Total Depth

Canadian Superior Energy Inc. ("Canadian Superior") (AMEX:SNG) (TSX:SNG) of Calgary, Alberta is poised to move swiftly if successful in the Trinidad and Tobago Ministry of Energy and Energy Industries' 2004 Competitive Bid Round. It is anticipated that an announcement of successful bids for the award of Production Sharing Contracts will take place on or before March 31, 2004.

Canadian Superior bid Production Sharing Contracts for two blocks off the east coast of Trinidad. These are:

-- Block 2(ab): a 396,612 acre shallow water coastal/shelf block

off the east coast of Trinidad, water depths range from 0 to

50 m (164 feet). Other companies who also qualified for

bidding on Block 2(ab) are: bhpBilliton/Talisman/Total, Kerr

McGee/Primera and Repsol-YPF Venezuela SA/Petrotrin.

-- Block 5(c): an 80,041 acre Continental Shelf block

approximately 75 kilometers (47 miles) off the east coast of

Trinidad, water depths in excess of 150 m (500 feet). The

other qualifying bidder on Block 5(c) is British Gas (BG).

Speaking in Calgary, Greg Noval, President of Canadian Superior, commented, "We are extremely pleased to be short-listed among such world-class companies in Trinidad and Tobago's 2004 Competitive Bid Round. We see multiple exploration and development opportunities on both Blocks 2(ab) and 5(c) and await the result. At the same time, we are busy completing the front-end work for our current Trinidad work program on our joint venture acreage off the east coast of Trinidad with Petrotrin, in the Mayaro Bay/Guayaguayare area. Pending regulatory and government approvals, we are planning a high resolution 3D seismic program for mid-year, with exploration drilling commencing prior to year-end on our 'Trinidad Tradewinds Project' over the Mayaro/Guayaguayare Blocks."

In October 2003, it was announced that Canadian Superior was entering into a major joint venture off the east coast of Trinidad with the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") in the Mayaro Bay/Guayaguayare area. The Mayaro/Guayaguayare Blocks are comprised of approximately 55,000 acres and are located near shore along the east coast of Trinidad, positioned between the large Navette (onshore) and Galeota (offshore) fields and on trend with the recently discovered 400 million barrel BHP/Total/Talisman Angostura field and the recent Aventura Carapal Ridge gas discovery.

Looking farther north and east, off the east coast of Nova Scotia, Canada, Canadian Superior reported this morning, Tuesday, February 17, 2004, that the Rowan Gorilla V is conducting regular drilling operations at the Canadian Superior El Paso "Mariner" I-85 well, in the 216 mm (8 1/2 inch) hole section of the well. The Total Vertical Depth (TVD) achieved to date is approximately 5,027m (16,493 feet).

When contacted in Halifax, Mike Coolen, Canadian Superior's Director of East Coast Operations, said, "Everything is going extremely well; but, we did need to temporarily suspend drilling on Thursday February 12, 2004 to address an obstruction in the well bore caused by a defective wellhead component. This potentially serious situation was addressed swiftly in a safe and efficient manner; and drilling operations recommenced on Monday, February 16, 2004 following equipment inspection and repair. We expect it will take the drill bit less than 2 more weeks to drill this well to its minimum targeted total depth of approximately 5,600 meters (18,370 feet) at a total budgeted cost of U.S. $30 million. Testing and evaluation of the well will take place upon the well reaching total depth and could take approximately another two weeks thereafter to complete."

Canadian Superior is a Calgary, Alberta based oil and gas exploration and production company with operations in western Canada, offshore Nova Scotia and offshore Trinidad. The Company is one of the largest acreage holders offshore Nova Scotia, with interests in 1,293,946 acres offshore Nova Scotia (See: Canadian Superior's website at www.cansup.com to review Canadian Superior's "Marquis, Mariner, Mayflower, Marauder and Marconi Offshore Projects" and to view the "Table of Major Offshore Nova Scotia Acreage Holders" and "Offshore Nova Scotia Maps", to review information on the Company's Western Canadian operations and for information and detailed maps regarding Canadian Superior's new Trinidad "Tradewinds" Offshore Project).

This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release. While the Company makes these statements and projections in good faith, neither the Company nor its management or directors can guarantee that the anticipated future results will be achieved. Reference should be made to the companies' (and their affiliates') Securities and Exchange Commission filings for additional important factors that may affect actual results.