XPL Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. (the "Company) (TSX VENTURE:XPL) announces that
Mr. Keith Chase has resigned as a director of the Company. The Company wishes to
thank Mr. Chase for his contributions to the Company and wish him success in his
future endeavours. The Board of Directors of the Company consists of Lawrence B.
Buzan and John McGilvary and the Board intends to seek a new director to fill
the vacancy created by Mr. Chase's resignation. 


Hardy Area Update

The Company is pleased to announce it has received certain term extensions from
the Petroleum Tenure Branch for the Saskatchewan Ministry of Energy and
Resources based on surface access conditions.


A summary chart of the extensions is provided below.



----------------------------------------------------------------------------
Company Lands in the Hardy Area:                                            
----------------------------------------------------------------------------
                                                                            
Sections     Original Expiry    New Expiry                                  
----------------------------------------------------------------------------
8.0          August 31, 2012    October 31, 2012                            
23.25        June 30, 2012      August 31, 2012                             
6.0          March 31, 2016     No Change; Crown sale lands owned 100%      
2.75         Undetermined(i)    (i)Freehold Lands; 1-year expiry once earned
----------------------------------------------------------------------------
Total = 40 sections owned, earned or under option.                          



The Farmor under the previously announced Farmin has agreed to match the
government extensions referred to above. The extensions will allow the Company
to continue to retain the option to earn the remainder of the lands under the
previously agreed farmout terms. 


All lands will expire as per the listed expiry dates except any terms that are
extended by future drilling or production, if any. The Company continues to seek
joint venture partners to drill its Bakken opportunities and in particular its
licensed well CEEI Hardy HZ 4B12-4-4B5-33-4-21W2. (See December 12, 2011 press
release.)


About Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. is a junior oil and gas company engaged in the
exploration for and development and production of natural gas and oil reserves.
The Company has 135,497,209 common shares outstanding and it's common shares are
listed on the TSX Venture Exchange under the symbol "XPL".


Advisory

Certain statements and information contained in this press release contain
forward looking statements. Examples of such forward looking statements in this
press release include, but are not limited to the Company's intention to seek
additional directors, views regarding the option to earn additional option
lands, future drilling or production and seeking joint venture partners. 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 and
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 Annual Information Form and other filings available on the
System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Canadian Energy Exploration Inc. (TSXV:XPL)
Historical Stock Chart
From Oct 2024 to Nov 2024

Canadian Energy Exploration Inc. (TSXV:XPL)
Historical Stock Chart
From Nov 2023 to Nov 2024