Canada Energy Partners to Complete Production Testing on Peace River Well

Peace River Oil Sands
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Canada Energy Partners have completed drilling on its first deep exploration well on the Peace River Project targeting the Montney and other deep formations. The well is currently being fractured and production tested in multiple formations and is scheduled to be completed in 30 to 60 days. The commencement of the drilling of this well was previously announced in the Company's July 7, 2008 news release. The Company owns 50% working interest in this well.

Canada Energy also is pleased to report that the permit was received for a 3D seismic shoot over 29 Peace River Project sections. This 3D seismic shoot is scheduled to commence this quarter.


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