CANADA ENERGY PARTNERS announces a private placement of convertible debentures

Canada Energy Partners Inc. (the "Corporation"). The Corporation announces a private placement of convertible debentures to secure up to $150,000. The convertible debentures will be non-interest bearing, will have a maturity date of 12 months and the principal amount may at the option of a holder be converted into units consisting of a common share at an issuance price of $0.05 and a share purchase warrant entitling the holder thereof to acquire an additional common share at an exercise price of $0.075 for a period of 12 months.

Subject to approval of the TSX Venture Exchange ("Exchange"), the Corporation may pay a finder's fee in cash or finders' warrants to arm's-length finders in amounts to be negotiated. The Corporation intends to use the net proceeds of the private placement for working capital.

All securities to be issued in connection with the private placement will be subject to a 4 month hold period from the date of issue in accordance with applicable securities laws. Completion of the private placement is subject to approval of the Exchange.

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.

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur, including, without limitation, estimated revenues. Forward-looking statements in this press release include statements about the anticipated filing deadline for the Annual Filings. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation, the failure to file the Annual Filings by the anticipated date. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by law.

For further information:
Grant Hall, President,
Direct Phone: (520) 668 4101

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