Canadian Energy Exploration Inc. Announces Results of Annual and Special Meeting

CALGARY, Sept. 15, 2011 /CNW/ - Canadian Energy Exploration Inc. ("Canadian Energy" or the "Company") (TSXV: XPL) is pleased to announce that it held its annual and special meeting of shareholders on September 15, 2011 and the shareholders of the Company approved all the resolutions presented at the meeting, including:

  • The re-election of Messrs. Lawrence B. Buzan and John McGilvary as directors of the Company and the election of Mr. Keith Chase as a new independent director of the Company for the forthcoming year;

  • The receiving of the Company's audited consolidated financial statements for the year ended December 31, 2010 together with the auditor's report thereon;

  • The appointment of KPMG LLP, Chartered Accountants, as auditors of the Company (including authorizing the Directors to fix the auditors' remuneration); and

  • The ratification and approval of the amended and restated Stock Option Plan of the Company.

The board and management of Canadian Energy would like to thank all of the shareholders of the Company who took the time to attend, or vote by proxy at the meeting.  All materials associated with our meeting are available under Canadian Energy's profile on SEDAR at www.sedar.com.

As previously announced by the Company (see press release dated August 22, 2011) William S. Sudhaus, John D. Wright, Chris J. Bloomer and George Tsafalas did not stand for re-election at the meeting.  The Company also announces that George Tsafalas has resigned as Chief Financial Officer of the Company and Lawrence B. Buzan will assume the interim role as Chief Financial Officer until a replacement is appointed.

About Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. is a junior oil and gas company engaged in the exploration for and development and production of oil and natural gas reserves in Western Canada.  The Company's common shares trade on the TSX Venture Exchange under the symbol "XPL".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Canadian Energy expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Canadian Energy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Canadian Energy's management on the date the statements are made. Canadian Energy undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.


SOURCE Canadian Energy Exploration Inc.

For further information:

Canadian Energy Exploration Inc.  
Larry Buzan, President and  
Chief Executive Officer

P: (403) 229-2800
E-mail: buzan@cdnenergy.com

Profil de l'entreprise

Canadian Energy Exploration Inc.

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