Canada Energy Partners Inc. (TSX VENTURE:CE) (the "Company") is pleased to
announce that it has granted a third party an option to purchase (the "Option")
the Company's Montney Shale lands and wells for CDN$16,070,000 in cash. The
Option is exercisable until June 30, 2014 and, in the event the third party
exercises the Option, the subsequent sale will be subject to certain conditions
including shareholder and regulatory approval, including the approval of the TSX
Venture Exchange. 


The Company's shallow rights, gas plant, water disposal wells, and coal bed
methane wells are not subject to the Option and shall be retained by the
Company.


The third party has also agreed to provide the Company with a CDN$500,000
operating loan (the "Loan") and extend the due date of all amounts owed by the
Company to the third party in accordance with the financing arrangement
announced on January 16, 2013 (the "Prior Financing"), until May 1, 2015. 


In the event the third party exercises the Option, the Loan and all amounts owed
by the Company to the third party in connection with the Prior Financing shall
be repaid from the proceeds received by the Company from the sale of the
Company's Montney Shale lands. Should the third party elect not to exercise the
Option or if sale the Company's Montney Shale lands does not occur, the Loan
will become due May 1st, 2015.


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

John Proust, Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward Looking Statements: This press release contains forward looking
statements relating to expected or anticipated 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 companies' 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 companies that actual results achieved during the forecast
period will be the same in whole or in part as that forecast.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canada Energy Partners Inc.
John Proust
Chairman
Direct: (604) 696-9020
info@canadaenergypartners.com


Canada Energy Partners Inc.
Ben Jones
President and CEO
Direct: (225) 388-9900
info@canadaenergypartners.com


Canada Energy Partners Inc.
1500 - 885 West Georgia St.
Vancouver, BC V6C 3E8
Main Phone: (604) 488-0319
(604) 488-0319 (FAX)
www.canadaenergypartners.com
Canada Energy Partners (TSXV:CE)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Canada Energy Partners Charts.
Canada Energy Partners (TSXV:CE)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Canada Energy Partners Charts.