Canada Energy Partners Inc. approved the appointment of Messrs. Benjamin Jones, John Proust, Kyle R. Burnett, John R. Howard Jr., and Pat S. Bolin to the board of directors of the company at the annual and special general meeting of shareholders held on October 28, 2009. The company appointed John Proust as chairman; Benjamin Jones as president and chief executive officer; Eduard Epshtein as chief financial officer; and Eileen Au as corporate secretary.

Canada Energy Partners Inc. reported unaudited earnings results for the first quarter ended July 31, 2009. For the quarter, the company reported Loss before other items of CAD 555,495 compared to CAD 2,518,863 a year ago. Net loss and comprehensive loss was CAD 552,063 or CAD 0.01 per basic and diluted share compared to CAD 2,439,502 or CAD 0.03 per basic and diluted share a year ago. Cash used in operating activities was CAD 283,999 compared to CAD 657,287 a year ago. Oil and gas interest amounted to CAD 1,434,535 compared to CAD 2,956,173 a year ago.

Canada Energy Partners Inc. announced that drilling has commenced on the second Montney well on its Peace River Project in northeast British Columbia. The location of this well is 4.5 miles north of its first Montney well on the Project. The Company owns a 50% working interest in the Deep Rights, but the Company's Joint Venture Partner is paying 100% of the drilling and completion costs. The drilling should take 4-5 weeks. Canada Energy is party to a Joint Venture where a Joint Venture Partner pays 100% of drilling and completion costs on the first 4 committed deep wells on the Peace River Project (1 drilled) and 1 option well. The JV Partner is required to drill this well and two additional wells, one of which must be horizontal, before August 1, 2010. The Company owns an interest in 65 gross sections (42,207 acres) and 35 net sections (22,666 acres) of deep rights in northeast British Columbia.