For
the month of,
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May
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2009
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Commission
File Number
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001-31395
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||
Canadian
Superior Energy Inc.
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|||
(Translation
of registrant’s name into English)
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Suite
3200, 500 - 4th Avenue, SW, Calgary, Alberta, Canada T2P
2V6
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(Address
of principal executive offices)
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Form
20-F
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Form
40-F
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X
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Yes
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No
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X
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Document
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Description
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1.
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Material
Change Report, dated May 7, 2009.
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2.
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Material
Change Report, dated March 19, 2009.
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3.
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Material
Change Report, dated March 19, 2009.
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4.
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Material
Change Report, dated March 19,
2009.
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Item
1.
|
Name
and Address of Company
|
|
Canadian
Superior Energy Inc. (“Canadian Superior” or the
“Corporation”)
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||
Suite
3200, 500-4th
Avenue SW
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||
Calgary,
AB T2P 2V6
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||
Item
2.
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Date
of Material Change
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|
April
27, 2009
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Item
3.
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News
Release
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A
press release reporting the material change, a copy of which is attached,
was issued by the Corporation at Calgary, Alberta through the services of
Marketwire on April 27, 2009.
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||
Item
4.
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Summary
of Material Change
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|
The
Board of Directors of Canadian Superior Energy Inc. announced the
departure of Mr. Greg Noval as Executive Chairman of the Company and Mr.
Mike Coolen as President and Chief Executive Officer of the
Company. It also announced that Mr. Jake Harp has been
appointed as Interim Chairman of the Board of Directors. The
Company will make further announcements as to its management structure as
it works toward a resolution of its Companies’ Creditors Arrangement Act
application.
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||
Item
5.
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Full
Description of Material Change
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|
The
full details of the material change are more fully described in the
attached press release.
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Item
6.
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Reliance
on subsection 7.1(2) or (3) of National Instrument
51-102
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|
Not
Applicable.
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||
Item
7.
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Omitted
Information
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|
None.
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||
Item
8.
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Executive
Officer
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|
The
name and business number of an Officer who is knowledgeable about the
material change and this report is Robb Thompson, Chief Financial Officer
(403) 503-7944.
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||
Item
9.
|
Date
of Report
|
|
May
7, 2009
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For
Immediate Release
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April
27, 2009
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Carscallen
Leitch LLP
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Jennings
Capital Inc.
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1500,
407– 2nd
Street S.W.
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2600,
520 - 5th
Ave. SW
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Calgary,
Alberta, Canada T2P 2Y3
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Calgary,
Alberta T2P 3R7
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Attention:
Stan Carscallen
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Attention:
David McGorman
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Phone:
(403) 298-8451
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Phone:
(403) 262-0900
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Fax:
(403) 540-2648
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Fax:
(403) 292-0979
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carscallen@cllawyers.com
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david.mcgorman@jenningscapital.com
|
Item
1.
|
Name
and Address of Company
|
||
Canadian
Superior Energy Inc. (“Canadian
Superior”)
|
|||
Suite
3200, 500-4th
Avenue SW
|
|||
Calgary,
AB T2P 2V6
|
|||
Item
2.
|
Date
of Material Change
|
||
March
6, 2009
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|||
Item
3.
|
News
Release
|
||
A
news release announcing the material change was issued through the
facilities of Marketwire on March 6, 2009.
|
|||
Item
4.
|
Summary
of Material Change
|
||
Canadian
Superior successfully applied for an order under the Companies’ Creditors
Arrangement Act (Canada)
(“CCAA”).
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|||
Item
5.
|
Full
Description of Material Change
|
||
5.1
|
Full
Description of Material Change
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||
Canadian
Superior’s application to the Court of Queen’s Bench of Alberta for an
Order under the CCAA was successful, allowing Canadian Superior to prepare
a plan of arrangement for its creditors, and staying all claims and
actions against Canadian Superior and its assets. The Order was
made under section 11 of the CCAA and it is in effect until March 25,
2009, at which time the matter will be reviewed by the
Court.
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While
the Order is in effect, Canadian Superior will work with a court-appointed
Monitor and it will continue to implement a plan of arrangement for its
creditors, which includes its initiative to sell an undivided 25% or
larger interest in its “Intrepid” Block 5(c) in Trinidad and Tobago. A
successful sale of the Trinidad asset should allow Canadian Superior to
re-structure in an organized manner and re-emerge from CCAA in due
course.
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|||
5.2
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Disclosure
for Restructuring Transactions
|
||
Not
applicable.
|
|||
Item
6.
|
Reliance
on subsection 7.1(2) or (3) of National Instrument
51-102
|
||
Not
Applicable.
|
|||
Item
7.
|
Omitted
Information
|
||
Not
Applicable.
|
|||
Item
8.
|
Executive
Officer
|
||
The
name and business telephone number of an executive officer of Canadian
Superior who is knowledgeable about the material change and this report is
Mr. Michael Coolen, President and Chief Executive Officer, telephone (403)
294-1411.
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|||
Item
9.
|
Date
of Report
|
||
March
19,
2009
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For
Immediate Release
|
March
6, 2009
|
Item
1.
|
Name
and Address of Company
|
||
Canadian
Superior Energy Inc. (“Canadian
Superior”)
|
|||
Suite
3200, 500-4th
Avenue SW
|
|||
Calgary,
AB T2P 2V6
|
|||
Item
2.
|
Date
of Material Change
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||
February
17, 2009
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|||
Item
3.
|
News
Release
|
||
A
news release announcing the material change was issued through the
facilities of Marketwire on February 17, 2009.
|
|||
Item
4.
|
Summary
of Material Change
|
||
Canadian
Superior received a demand letter from Canadian Western Bank (the “Bank”)
for repayment of all amounts outstanding under Canadian Superior’s $45
million credit facility with the Bank.
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|||
Item
5.
|
Full
Description of Material Change
|
||
5.1
|
Full
Description of Material Change
|
||
Canadian
Superior received a demand letter from the Bank for repayment of all
amounts outstanding under Canadian Superior’s $45 million credit facility
with the Bank by February 23, 2009. Canadian Superior held discussions
with the Bank to extend the time for repayment in order to provide for the
orderly and timely repayment of the full credit facility. Since
the original demand, the date for repayment was extended to March 12, 2009
and the facility was reduced with the payment of approximately $9 million
to the Bank by Canadian Superior. In addition, on March 6,
2009, Canadian Superior successfully applied to the Court of Queen’s Bench
of Alberta for an Order under the Companies’ Creditors
Arrangement Act (Canada) (“CCAA”) allowing Canadian
Superior to prepare a plan of arrangement for its creditors and staying
all claims and actions against Canadian Superior and its
assets. The Order was made under section 11 of the CCAA and is
in effect until March 25, 2009, at which time the matter will be reviewed
by the Court.
|
|||
5.3
|
Disclosure
for Restructuring Transactions
|
||
Not
applicable.
|
|||
Item
6.
|
Reliance
on subsection 7.1(2) or (3) of National Instrument
51-102
|
||
Not
Applicable.
|
|||
Item
7.
|
Omitted
Information
|
||
Not
Applicable.
|
|||
Item
8.
|
Executive
Officer
|
||
The
name and business telephone number of an executive officer of Canadian
Superior who is knowledgeable about the material change and this report is
Mr. Michael Coolen, President and Chief Executive Officer, telephone (403)
294-1411.
|
|||
Item
9.
|
Date
of Report
|
||
March
19,
2009
|
For
Immediate Release
|
February
17, 2009
|
Item
1.
|
Name
and Address of Company
|
||
Canadian
Superior Energy Inc. (“Canadian Superior)
|
|||
Suite
3200, 500-4th
Avenue SW
|
|||
Calgary,
AB T2P 2V6
|
|||
Item
2.
|
Date
of Material Change
|
||
February
12, 2009
|
|||
Item
3.
|
News
Release
|
||
A
news release announcing the material change was issued through the
facilities of Marketwire on February 12, 2009.
|
|||
Item
4.
|
Summary
of Material Change
|
||
On
February 12, 2009, an interim receiver of Canadian Superior’s
participating interest in “Intrepid” Block 5(c) was
appointed.
|
|||
Item
5.
|
Full
Description of Material Change
|
||
5.1
|
Full
Description of Material Change
|
||
On
February 12, 2009, upon the application of BG International Limited
(“BG”), a wholly
owned subsidiary of the BG Group plc, an interim Receiver of Canadian
Superior’s participating interest in “Intrepid” Block 5(c) was appointed.
Pursuant to the Court Order, the Receiver, in conjunction with BG, will
operate the property and conduct the flow testing of the “Endeavour” well
which Canadian Superior believes will validate its operations to
date. The Court Order allows the Receiver to charge Canadian
Superior interest in Block 5(c) with an amount up to U.S. $47 million to
pay for Canadian Superior’s share of the costs under the joint operating
agreement with BG. Canadian Superior will continue with the
monetization of its interest in Block 5(c) as previously announced and the
proceeds from any sale will be applied to its share of the costs charged
against Block 5(c) and to discharge the Receiver.
|
|||
5.4
|
Disclosure
for Restructuring Transactions
|
||
Not
applicable.
|
|||
Item
6.
|
Reliance
on subsection 7.1(2) or (3) of National Instrument
51-102
|
||
Not
Applicable.
|
|||
Item
7.
|
Omitted
Information
|
||
Not
Applicable.
|
|||
Item
8.
|
Executive
Officer
|
||
The
name and business telephone number of an executive officer of Canadian
Superior who is knowledgeable about the material change and this report is
Mr. Michael Coolen, President and Chief Executive Officer, telephone (403)
294-1411.
|
|||
Item
9.
|
Date
of Report
|
||
March
19,
2009
|
For
Immediate Release
|
February
12, 2009
|
CANADIAN
SUPERIOR ENERGY INC.
|
||||||
(Registrant)
|
||||||
Date:
|
May
26, 2009
|
By:
|
/s/
Robb Thompson
|
|||
Name:
|
Robb
Thompson
|
|||||
Title:
|
Chief
Financial Officer
|