CALGARY, ALBERTA--(Marketwire – Dec. 21, 2009) – Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX:SNG)(NYSE Amex:SNG) today provided an update to its shareholders.

"Since the Company's restructuring concluded in September, we have been increasing production levels and moving forward on a number of different fronts," said Marvin Chronister, Canadian Superior's Chairman of the Board, and "Today's report on our activities demonstrates a renewed commitment to keeping Canadian Superior's shareholders informed on the progress their company is making."

OPERATIONAL UPDATE

Western Canada

Trinidad and Tobago

Libya/Tunisia

Liberty Liquefied Natural Gas (LNG) Project

Nova Scotia

FINANCIAL UPDATE

Production Hedge

Non-Brokered Financing

Mr. Chronister continued "We anticipate that the financial flexibility provided by the $50 million private placement combined with solid progress in developing our global portfolio of assets, positions Canadian Superior to turn the corner."

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This latest news release is positive in that it starts out with a commitment by Marvin Chronister to keep the shareholders of Canadian Superior informed of the company's progress. This is something that we have all been waiting for, for months. The following points are also positive:

1) Production has increased 13% with Canadian Superior's return to increasing production in the Western Sedimentary Basin in Alberta. Average daily production stands at 3,112 boe/d. You will note that this figure is from over 3 weeks ago, and there are currently 5 rigs drilling for oil and gas at present trying to make up for lost time and complete the company's flow-through committment by year end.

2) Another positive is that Canadian Superior and British Gas appear to be working together in Trinidad and Tobago again. However, the news release is vague in terms of what management means by "Commercial discussions with BG and the Ministry of Energy are ongoing in relation to monetization options for Bloc 5C's natural gas discoveries." The last time Canadian Superior used the term "monetization" this word meant "sell part of Canadian Superior's share of Block 5C. So what does monetization mean today here? I expect that it means that Canadian Superior and BG are looking at how to together "fast track" the commercialization the sale of natural gas from Bloc 5C at the earliest opportunity. This would please Palo Alto , Steelhead and other institutional investors who you will recall wanted Canadian Superior to retain a 25% ownership of Block 5C during the bankrupcy proceedings. The new owner Clay Riddell according to yesterday's Calgary Sun article stated that he was interested in buying into Canadian Superior because" I'm excited about their project in Trinidad, " said Riddell, referring to an offshore oil block believed to contain between three and five trillion cubic feet of natural gas. When asked what about the offshore Trinidad natural gas field piqued his interest Riddell said bluntly "It's big." http://www.calgarysun.com/money/2009/12/19/12212096-sun.html

3) Canadian Superior is in the process of locating a rig to drill on the Tunisia/Libya block by August 2010 = full speed ahead.

4) It appears that there is local support for the LNG project that Canadian Superior is advancing in New Jersey and Excalibur Energy will file its Federal and state permit applications in 2010.

5) Canadian Superior Energy has dropped its Marauder and Mayflower leases in Nova Scotia and it has only retained the Mariner property (most likely it had to retain this as it was part of the Tunisia/Libya deal whereby SNG cut in it's partner in Tunisia/Libya by offering them an opportunity to share in its Mariner drilling. So they need to wait to find out if their partner is at all interested in participating in drilling Mariner and if not, at that point they may drop the Mariner lease as well. This is positive as Canadian Superior cannot handle the risk at present of the Nova Scotia leases at this point in time.

6) Canadian Superior has hedged 5500 Gj/d of natural gas at $5.50 for the entire 2010 year. Most likely their banker forced them to do this to insure their ability to pay off their loans etc. which is standard when loaning money to a junior oil and gas company. This is a good move if Canadian Superior continues to grow its production in Alberta at a fast pace so that this represents only a portion of SNG's production. We will only know if this is a good move at this time next year looking back, because if oil is $9.00 a Gj/d then it will appear to be a bad move.

Anyway, some positive moves IMHO. SNG's share price is at this moment .70 cents which is also positive for those of us who bought in at much higher prices.

Best Wishes; Scott