Canadian Superior Extends Term of Special Warrants

On December 18, 2003, Canadian Superior Energy announced the closing of a private placement of special warrants, with each special warrant entitling the holder thereof upon exercise or deemed exercise to acquire one common share and one-third of a common share purchase warrant at an exercise price of $3.20 per share exercisable until March 31, 2004. Canadian Superior announced today that it has extended the expiry date of 1,891,663 warrants from March 31, 2004 to December 31, 2004. The extension will not apply to any of these special warrants held by officers, directors, 10% share holders or their respective associates or affiliates of the Company and will be effective at 4:29 p.m. (Calgary Time) on March 31, 2004.