Canadian Energy Exploration Inc. (the "Company") (TSX VENTURE:XPL) is pleased to
announce that it has closed its previously announced private placement and has
issued 8,333,335 common shares ("Common Shares") at a subscription price of
$0.15 per share and 1,250,000 Common Shares on a "flow-through share" basis
("Flow-Through Share") at a subscription price of $0.20 per share for aggregate
gross proceeds of (Cdn) $1,500,000.


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 corporate purposes. All securities
issued in connection with the private placement are subject to a hold period
which expires on July 11, 2010.


In connection with the private placement certain registered dealers and finder's
were paid a cash commission representing 6.5% of the gross proceeds raised and
were issued 625,894 compensation warrants exercisable into one (1) Common Share
at an exercise price of $0.15 per share until September 10, 2010 and 20,000
compensation warrants exercisable into one (1) Common Share at an exercise price
of $0.20 per share until September 10, 2010.


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".


Certain statements and information contained in this press release, including
but not limited to statements regarding the use of proceeds 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 filing on the
System for Electronic Document Analysis and Retrieval (SEDAR).
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