Canadian Superior Energy's CCAA stay period extended to Sept. 15

By Caroline Salls

Pittsburgh, July 24 - Canadian Superior Energy Inc. has secured an extension of its Companies' Creditors Arrangement Act stay to Sept. 15 from the Court of Queen's Bench of Alberta, according to a company news release.

The company said the extension will allow it to continue to prepare a plan of arrangement for its creditors.

Canadian Superior said the strategic alternatives it is considering include a previously announced sale of an undivided 45% interest in its Block 5(c) asset in Trinidad and Tobago to BG International Ltd. and recapitalization proposals.

Canadian Superior is a Calgary, Alta.-based company with an emphasis on exploring for and producing crude oil and natural gas in western Canada, Nova Scotia and Trinidad and Tobago.

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