CEE Centamin Plc

Canadian Energy Exploration Inc. (the "Company") (TSX VENTURE:XPL) is pleased to
announce that it proposes to complete a non-brokered private placement financing
(the "Offering") of common shares ("Common Shares") at a price of $0.15 per
Common Share and flow-through common shares ("Flow-Through Shares") at a price
of $0.20 per Flow-Through Share for aggregate gross proceeds of up to
$1,500,000. Officers and directors of the Company may subscribe under the
Offering for proceeds up to $500,000.


The gross proceeds from the sale of the Flow-Through Shares will be used to
incur Canadian Exploration Expenses ("CEE") for the purposes of the Income Tax
Act (Canada) and such CEE will be renounced for the 2010 taxation year. The net
proceeds from the sale of the Common Shares will be used to fund the Company's
ongoing capital program and for general working capital purposes. All securities
issued in connection with the Offering will be subject to a four month hold
period. The Offering is scheduled to close on or about February 26, 2010 and is
subject to the completion of formal documentation and regulatory approval,
including the conditional approval of the TSX Venture Exchange. The Company may
pay commissions to brokers or others that assist it in the completion of this
placement.


The Company further announces the following appointments; Eric Leslie as Chief
Operating Officer and Director of the Company and Robert Thomson as Vice
President Exploration of the Company. Mr. Leslie's career in the oil & gas
industry commenced in 1978. Over the past 5 years Mr. Leslie has served as a
senior officer and director of a number of private and public oil & gas
exploration companies. Mr. Thomson is a Professional Geologist with over 23
years experience in the oil & gas industry. Since beginning his career in 1986,
Mr. Thomson has worked on a wide variety of Canadian and international
exploration and development projects with both major and junior oil & gas
companies based in Calgary. The Company's management team is in the process of
vetting and conducting due diligence on a number of drilling and production
acquisition opportunities. Mr. George Tsafalas, Chief Financial Officer and
Director of the Company stated "We are pleased with the new additions to our
management team and are looking forward to completing our proposed private
placement. The stage is now set for us to build the foundation from which we
will be growing the Company."


On June 16, 2009, one of the two predecessor companies to the Company, entered
into a farmout agreement in the Karr Area of Alberta ("the Farmout Agreement")
with a major oil & gas company ("Major"). The Company has delivered notice to
the Major advising that the Company has forfeited its previously paid $50,000
deposit under the Farmout Agreement and that the Company will not be pursuing
earning an interest in the Farmout Agreement. 


About Canadian Energy Exploration Inc.

Canadian Energy Exploration is a junior oil and gas company engaged in the
exploration for and development and production of natural gas and oil reserves.
The Company's Common Shares are listed to trade on the TSX Venture Exchange
under the symbol "XPL".


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities of the Company in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The securities to be offered have
not been and will not be registered under the United States Securities Act of
1933, as amended, or any state securities laws and may not be offered or sold
within the United States or to or for the account or benefit of a U.S. Person
absent registration or an applicable exemption from the registration
requirements of such Act or laws. Certain statements and information contained
in this press release, including but not limited to statements regarding the
expected closing date and the amount and use of proceeds and drilling and
production opportunities contain forward-looking statements. All statements
other than statements of historical fact may be forward looking statements.
These statements, by their nature, are subject to numerous risks and
uncertainties, some of which are beyond the Company's control including the
effect of general economic conditions, industry conditions, changes in
regulatory and taxation regimes, volatility of commodity prices, escalation of
operating and capital costs, currency fluctuations, the availability of
services, imprecision of reserve estimates, geological, technical, drilling an
processing problems, environmental risks, weather, the lack of availability of
qualified personnel or management, stock market volatility, the ability to
access sufficient capital from internal and external sources and competition
from other industry participants for, among other things, capital, services,
acquisitions of reserves, undeveloped lands and skilled personnel that may cause
actual results or events to differ materially from those anticipated in the
forward looking statements. Such forward-looking statements although considered
reasonable by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated in the
statements made and should not unduly be relied on. These statements speak only
as of the date of this press release. The Company does not intend and does not
assume any obligation to update these forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable law. The Company's business is subject to various risks that are
discussed in its filings on the System for Electronic Document Analysis and
Retrieval (SEDAR).

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