Canadian Superior Closes Private Placement for $35MM

Canadian Superior Energy Inc. announced that on Wednesday, September 3, 2008 it successfully closed its previously announced non-brokered private placement, of 8,750,000 units, each unit comprised of one common share and one-half of a warrant at a price of US $4.00 per unit for total gross proceeds of US $35,000,000.

The proceeds of this private placement will be used to fund Canadian Superior's international exploration spending and new business development activities, including those related to its recently announced "Oasis" Project with the "7th Of November Block" in Libya and Tunisia and its proposed "Liberty" LNG Project in the United States.