Canadian Superior, Challenger Move Offshore Semi-Submersible Rig

Canadian Superior Energy Inc. and Challenger Energy Corp. jointly announced that the Kan Tan IV semi-submersible drilling rig is under tow by two towing vessels, Tidewater, Inc.'s, "Carl F. Thorne", and A.P. Moller - Maersk A/S', "Maersk Puncher", and on the move from the "Victory" well site to the "Bounty" well site, offshore Trinidad on the "Intrepid" Block 5(c). The well sites are about 2.2 miles apart. The rig move had been delayed until today due to unusually high seas in the area with maximum wave heights in excess of 15 feet making it impossible to move the semi-submersible drilling rig until earlier today. Canadian Superior and Challenger will be providing further market updates regarding the spudding of the "Bounty" well over the next few days.

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