CE Canada Energy Partners Inc

Canada Energy Partners Inc. ("Canada Energy" or the "Company") (TSX VENTURE:CE)
is pleased to report the results of the Company's fiscal year-end reserve study
of the Company's Montney lands, performed by GLJ Petroleum Consultants Ltd.
("GLJ"), and the Peace River CBM Project reserves, evaluated by Netherland
Sewell & Associates, both of which are effective as of April 30th, 2011.


The combined total of the Company's Montney and CBM proved reserves is 8.8
billion cubic feet equivalent ("BCFe") and proved plus probable ("2P") is 41.7
BCFe representing a 169% increase in year-over-year (Fiscal year-end April 30th)
2P reserves.


As to the Montney formation, GLJ ascribed Company interest reserves of 8.54 BCFe
of proved reserves and 2P of 26.22 BCFe. Company Interest reserves means the
Company's working interest share before deduction of royalties and including any
royalty interest of the Company. The undiscounted projected net cash flow is
estimated to be $21.6 million from the proved reserves and $78.4 million from
the 2P reserves. The present value discounted at 10% ("PV10") of the proved
reserves is $7.09 million and $24.05 million for the 2P reserves. 81.1% of these
2P reserves were attributable to the Monias property and 18.9% to the Peace
River property.


As to the Company's Gething CBM Project, the Company interest reserves as
reported by Netherland Sewell at fiscal year-end April 30, 2010 were 0.27 BCF
proved and 15.50 BCF 2P.


There have been three transactions in the Montney play in northeast British
Columbia in the last 9 months representing $3.2 billion of financial commitments
from international energy companies. CIBC has reported that the average sales
price for 2P gas reserves in Western Canada in 2010 was $2.07 per thousand cubic
feet ("mcf"). Canada Energy Partners owns 27,799 net acres (42 net sections) of
Montney rights.


Eduard Epshtein has resigned as the Chief Financial Officer of the Company
effective July 14th and John Proust has been appointed as the Interim CFO. Mr.
Epshtein has made a significant contribution to the Company's development since
its inception. The Company appreciates Mr. Epshtein's contribution and wishes
him well in his new endeavours.


Canada Energy is an active oil and gas exploration and development company. The
Company possesses a large concentrated land position in a high-impact,
multi-zone, natural gas-bearing area in northeast British Columbia.


BCFe may be misleading, particularly if used in isolation. A BCFe conversion
ratio of 1 bbl: 6 mcf is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead. The estimated values disclosed do not represent
fair market value.


On behalf of the Board of Directors of Canada Energy Partners Inc.

John Proust, Chairman

Forward Looking Statements: This news release contains forward looking
statements relating to expected or anticipated flow rates, timing for drilling
and completion operations, future events and operations, number of wells to be
drilled, timing of projects and anticipated results that are forward looking in
nature and, as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential delays or
changes in plans, the occurrence of unexpected events, and the company's
capability to execute and implement future plans. Actual results achieved may
vary from the information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors. There is no representation by
the company that actual results achieved during the forecast period will be the
same in whole or in part as that forecast.

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