Canadian Superior Going Full Steam Ahead on Mariner Project

Canadian Superior is proceeding ahead with its "Mariner" Project offshore Nova Scotia, near Sable Island, with a 2nd "Mariner" well planned for commencement of drilling in a drilling window available from December 31, 2004 to April 31, 2005.

Mike Coolen, Vice President, East Coast Operations, said, "We had very productive meetings last week in Halifax during the Canadian Offshore Resources Exhibition and Conference ("CORE") with the drilling contractors who have qualified for the final round of bidding to drill on the 'Mariner' Project, planned to commence during a drilling window from December 31, 2004 to April 31, 2005, depending on rig selection, regulatory approval and the finalizing of partner arrangements that are currently underway."

Also, Mark Gillis, Canadian Superior's Manager, East Coast Operations, said from Halifax today, "The planned drilling is on track given that we have secured the most critical long lead item for the well by purchasing the 10 3/4 inch and 9 7/8 inch casing, for the next 'Mariner' well, which will be delivered to our storage over the next few days. The pipe was particularly critical to continue with our critical path planned for spudding the next well."

The "Mariner" Project is a multi-well project on Canadian Superior's "Mariner" block (EL 2409) offshore Nova Scotia, Canada. Three large prospects have been identified for drilling on the "Mariner" block utilizing high-resolution seismic. The block encompasses a total area of 101,800 acres and is located approximately 290 kilometers (180 miles) offshore Nova Scotia, near Sable Island, southeast of Halifax, Nova Scotia.