Canadian Superior Energy Inc. Closes Total Flow-Through Share Financings of over $8,900,000.CALGARY, Alberta -- Canadian Superior Energy Inc. ("Canadian Superior") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SNG SNG abbr. 1. substitute natural gas 2. synthetic natural gas ) (AMEX AMEX See: American Stock Exchange :SNG) of Calgary, Alberta, Canada announced today that at year end 2005 it has closed by way of private placement total "flow-through" share financings of 2,976,400 common shares at a price of $3.00 per share, which includes the 1,666,667 "flow-through" shares previously announced on November 22, 2005. The proceeds from these financings will be used to fund Canadian Superior's 2006 high impact exploration program in Western Canada
Western Canada, commonly referred to as the West . Canadian Superior is a Calgary, Alberta based oil and gas exploration and production company with operations in Western Canada, offshore Trinidad and Tobago Trinidad and Tobago (trĭn`ĭdăd, təbā`gō), officially Republic of Trinidad and Tobago, republic (2005 est. pop. 1,088,000), 1,980 sq mi (5,129 sq km), West Indies. The capital is Port of Spain. and offshore Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography . See Canadian Superior's website at www.cansup.com to review Canadian Superior's Western Canadian Operations, Trinidad and Tobago holdings and the Company's offshore Nova Scotia interests. This news release contains forward-looking information on future production, project start-ups and future capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. . Actual results or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporation's annual report on Form 40-F on file with the U.S. Securities and Exchange Commission. Canadian Superior Energy Inc. (TSX:SNG) (AMEX:SNG) |
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