Canadian Superior Energy (SNG)

[Golden Cross]

Canadian Superior Energy Inc. Closes Total Flow-Through Share Financings of over $8,900,000
Wednesday January 4, 8:55 am ET


CALGARY, Alberta--(BUSINESS WIRE)--Jan. 4, 2006--Canadian Superior Energy Inc. ("Canadian Superior") (TSX:SNG - News; AMEX:SNG - News) of Calgary, Alberta, Canada announced today that at year end 2005 it has closed by way of private placement total "flow-through" share financings of 2,976,400 common shares at a price of $3.00 per share, which includes the 1,666,667 "flow-through" shares previously announced on November 22, 2005. The proceeds from these financings will be used to fund Canadian Superior's 2006 high impact exploration program in Western Canada.
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Canadian Superior is a Calgary, Alberta based oil and gas exploration and production company with operations in Western Canada, offshore Trinidad and Tobago and offshore Nova Scotia. See Canadian Superior's website at www.cansup.com to review Canadian Superior's Western Canadian Operations, Trinidad and Tobago holdings and the Company's offshore Nova Scotia interests.

This news release contains forward-looking information on future production, project start-ups and future capital spending. Actual results or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions.