NYSE Alternext Halted Trading in Canadian Superior Energy Inc. Shares; Trading to Continue on TSX Exchange

MAR 11, 2009 - 08:28 ET

CALGARY, ALBERTA--(Marketwire - March 11, 2009) - Canadian Superior Energy Inc. ("Canadian Superior" or the "Company")(TSX:SNG)(NYSE Alternext US:SNG) confirms that NYSE Alternext US LLC (the "Exchange" or "NYSE Alternext US") has halted trading in its common shares on March 5, 2009. The NYSE Alternext US has advised the Company, in a letter dated March 6, 2009, that the Exchange intends to file a delisting application with the S.E.C. due to determinations by the Exchange staff that the Company has continuing listing deficiencies. Specifically, the events that led to the Company filing for protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA") on March 5, 2009 have resulted in the determination that the Company is not in compliance with the Exchange's listing requirements. The Company has the right to appeal this determination. The Company's shares continue to trade on the TSX Exchange at this time.

As previously announced the Company's application to the Court of Queen's Bench of Alberta for an Order under the Companies' Creditors Arrangement Act (Canada) was successful, allowing the Company to prepare a plan of arrangement for its creditors, and staying all claims and actions against the Company and its assets. The Order was made under section 11 of the CCAA and it is in effect until March 25, 2009, at which time the matter will be reviewed by the court.

Are the shares being traded over the counter in US?

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