CANADA ENERGY PARTNERS INC. SETS FINANCING TERMS

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Canada Energy Partners Inc. (the "Company") (TSX VENTURE:CE) announces that the Company's financing previously announced on April 23 and May 13, 2008, is now priced at $1.18 per share. The financing will close on June 10, 2008. The other terms of the financing have not changed.

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

John Proust, Director

Forward Looking Statements: This press release contains forward looking statements relating to expected or anticipated future events 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

CONTACT INFORMATION:

Canada Energy Partners Inc.
John Proust
Director
(604) 909-1154 or Direct: (604) 895-7445
Fax: (604) 488-0319
Email: info@canadaenergypartners.com
Website: www.canadaenergypartners.com