CALGARY, Aug. 22, 2011 /PRNewswire/ - Canadian Energy Exploration Inc. ("Canadian Energy" or the "Company") (TSXV:XPL) is pleased to announce that it has set the date for the Annual and Special Meeting (the "Meeting") of its shareholders, to be held in Calgary, Alberta on Thursday, September 15, 2011. The Information Circular for the meeting, which will be mailed to shareholders on August 22, 2011, proposes a three person Board of Directors, including Lawrence B. Buzan and John C. McGilvary, both of whom are currently directors of the Company.
In addition, the Company is proposing the election of Keith Chase as a director. Mr. Chase is currently the Chief Executive Officer of Chase Resources Inc. and the Chief Financial Officer of Kanduit Electric Ltd. Mr. Chase has over 30 years of petroleum industry experience.
Lawrence Buzan, the President and Chief Executive Officer of the Company, commented, "We are very pleased that Keith Chase has agreed to stand for election as a director of the Company at our upcoming Meeting. Mr. Chase has extensive experience in the oil and gas industry, and we are confident that his counsel will be significant to Canadian Energy's future development. We are also grateful to William S. Sudhaus, John D. Wright, Chris J. Bloomer and George Tsafalas, who will not be standing for re-election at the Company's upcoming Meeting, for their considerable past service to the Company. We wish them all well in their future endeavors."
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.