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CANADA ENERGY COMPLETES NON-BROKERED FINANCING

December 17, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2007) - Canada Energy Partners Inc. (the "Company") (TSX VENTURE:CE) is pleased to report the completion of its previously announced non-brokered financing. Pursuant to the terms of the financing, the Company raised gross proceeds of $5,121,673 by issuing a total of 8,828,532 common shares including 6,635,454 CEE flow-through shares at a price of $0.60 per share, 1,211,540 CDE flow-through shares at a price of $0.52 per share and 981,538 common shares at a price of $0.52 per share. The Company will pay finders' fees consisting of aggregate cash commissions of $323,927 plus the issuance of an aggregate of 559,018 finders' warrants exercisable at a price of $0.60 per share until December 14, 2008. All securities are subject to a hold period of four months.

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

John Proust, Director

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.

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

CONTACT INFORMATION:

Canada Energy Partners Inc.
John Proust
Director
(604) 909-1154
Fax: (604) 488-0319
Website: www.canadaenergypartners.com

 


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