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DEEP RIGHTS OPERATOR RECEIVES DRILLING PERMIT TO DRILL MULTIPLE FORMATIONS AND COMENCES TEST ON EXISTING WELL FOR GAS PRODUCTIVITY

February 20, 2007

Vancouver – Canada Energy Partners Inc. (“Canada Energy or the Corporation”) is pleased to announce that Triumph Pacific Oil & Gas Corporation (“Triumph”), the Operator of the deep conventional gas rights on the lands covered by the Peace River Project has received a drilling permit for a Triassic test well.  This well will be testing multiple formations below the coal-bearing shallow formation.  Location construction has begun and it is expected that drilling operations will commence before the end of February 2007 and that the well will take 30-40 days to drill.  Canada Energy will participate in the drilling of this well.

Further, as announced in the Corporation’s December 5, 2006, press release, log evaluation of a well recently drilled by the shallow rights Operator of the Peace River CBM Project, Hudson’s Hope Gas Ltd. (a subsidiary of GeoMet Inc. – NASDAQ: GMET), to assess potential water disposal zones has yielded indications of gas productivity below the Gething formation in an undisclosed formation.  Canada Energy is participating in the testing of a deep rights zone in this existing well.  The testing of a deep rights zone is considered an economical method of evaluating the potential of a prospective zone.  The test will also be testing a potential water disposal zone for the Peace River CBM Project.

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

“John Proust”

Director

Canada Energy Partners Inc.
1500 – 885 West Georgia Street,
Vancouver, BC V6C 3E8 Canada
Telephone: 604-909-1154 Fax: 604-488-0319

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

Forward-looking statements: This document may contain statements about expected or anticipated future events and financial results 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 its future plans.  Actual results may differ materially from those projected by management.  For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Act of 1995.

 


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