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
The appointment of KPMG LLP, Chartered Accountants, as auditors of the
Company (including authorizing the Directors to fix the auditors'
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
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.
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