Canadian Superior Energy Inc. said Thursday that the consolidation of its deepwater “Mayflower” exploration license (EL 2406) and its shallow water “Mariner” exploration license (EL 2409) has been approved by the Government of Canada and the Province of Nova Scotia. The ruling allows Canadian Superior to apply a $10 million Mayflower work deposit to drilling the next Mariner well. The Mariner Project lands are located nine kilometres northeast of Sable Island, offshore Nova Scotia, encompassing an offshore area of 101,800 acres (100% Canadian Superior), and directly offsets five significant discoveries near Sable Island, including the ExxonMobil Venture natural gas field. Also, upon consolidation, the exploration term for Canadian Superior’s 100% deepwater “Mayflower” license (EL 2406) will be extended for two additional years, from the current expiry date of Dec. 31, 2006 to Dec. 31, 2008; and, thereafter, 50% of the license area will be extended for an additional two years to Dec. 31, 2010. Canadian Superior’s Mayflower deepwater project exploration license covers 712,000 acres and mapping to date indicates the presence of five sizeable deepwater prospects.

©Copyright 2005Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.