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CANADA ENERGY PARTNERS INC. ANNOUNCES DRILLING OF SECOND MONTNEY WELL

 VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2008) - Canada Energy Partners Inc. ("Canada Energy" or the "Company") (TSX VENTURE:CE) is pleased to announce that drilling has commenced with its second Montney exploration well on its lands in northeast British Columbia. This well is located on the Company's Monias prospect and is the second of a minimum of six Montney exploration wells planned for the next 8 months on the Company's lands. These six committed wells and four additional option wells targeting Montney and other deep formations will be drilled by the Company's joint venture partners at no cost to the Company. In addition, the Operator of the deep rights on the Company's Monias prospect is currently shooting the 3D seismic program over the acreage.

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

John Proust, Director

Forward Looking Statements: This press release contains forward looking statements relating to expected or anticipated future events and operations, number of wells to be drilled, timing of projects and anticipated 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 companies' capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the companies that actual results achieved during the forecast period will be the same in whole or in part as that forecast.

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 or Direct: (604) 895-7445
Fax: (604) 488-0319
Email: info@canadaenergypartners.com

or

Canada Energy Partners Inc.
Ben Jones
Chief Executive Officer
Direct: (225) 928-9980
Email: info@canadaenergypartners.com
Website: www.canadaenergypartners.com

 


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