SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the month of,
|
January
|
|
2010
|
Commission
File Number
|
001-31395
|
|
|
|
Canadian
Superior Energy Inc.
|
(Translation
of registrant’s name into English)
|
|
Suite
3200, 500 - 4th Avenue, SW, Calgary, Alberta, Canada T2P
2V6
|
(Address
of principal executive offices)
|
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40F:
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______________
DOCUMENTS
INCLUDED AS PART OF THIS REPORT
Document
|
|
Description
|
|
|
|
1.
|
|
News
release, dated December 14, 2009.
|
2.
|
|
News
release, dated December 18, 2009.
|
3.
|
|
News
release, dated December 21, 2009.
|
4.
|
|
News
release, dated December 29, 2009.
|
Document
1
For
Immediate Release
|
December
14, 2009
|
CANADIAN SUPERIOR ENERGY
INC. RESPONDS TO CLASS ACTION LAWSUIT COMMENCED IN THE UNITED
STATES
CALGARY,
ALBERTA--(Marketwire – November 13, 2009) - Canadian Superior Energy Inc.
("Canadian Superior" or the "Company") (TSX:SNG)(NYSE Amex LLC:SNG) announced today that it
has been notified of a class action lawsuit commenced in the United States
District Court for the Southern District of New York. The lawsuit purports to be
brought on behalf of purchasers of the common stock of Canadian Superior between
January 14, 2008 and February 17, 2009. The complaint alleges that certain
former executives of Canadian Superior violated the Securities Exchange Act of
1934 by failing to disclose information concerning its prospects in Trinidad and
Tobago. The complaint also names a current officer of Canadian Superior as a
defendant. Canadian Superior has not been named a defendant in the case as it
sought protection under Canadian bankruptcy and reorganization laws and has
since reorganized. Canadian Superior intends to take any necessary steps to
protect its interests in this matter.
Statements
contained in this news release relating to future results, events and
expectations are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. These
forward-looking statements involve known and unknown risks, uncertainties,
scheduling, re-scheduling and other factors which may cause the actual results,
performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses,
schedules or achievements of the Corporation, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such statements. Such factors include, among
others, those described in the Corporation's annual reports on Form 40-F or Form
20-F on file with the U.S. Securities and Exchange Commission.
FOR
FURTHER INFORMATION PLEASE CONTACT:
Canadian
Superior Energy Inc.
Suite
3200, 500 - 4th Avenue S.W.
Calgary,
Alberta, Canada T2P 2V6
Investor
Relations
Phone:
(403) 294-1411
Fax:
(403) 216-2374
www.cansup.com
Document
2
For
Immediate Release
|
December
18, 2009
|
Canadian
Superior Energy Inc. Announces
Non-Brokered
Financing of up to CDN$50 Million
CALGARY,
ALBERTA--(Marketwire – December 18, 2009) – Canadian Superior Energy Inc.
("Canadian Superior" or the "Company") (TSX: SNG) (NYSE Amex LLC: SNG) is
pleased to announce that it intends to raise up to CDN$50,000,000 through a
non-brokered private placement issue (the "Private Placement") of up to
96,153,846 common shares ("Common Shares") at CDN$0.52 per Common Share which is
the Market Price as of December 16, 2009. Market Price has the
meaning ascribed thereto in the TSX Company Manual.
Treherne
Resources Ltd. (“Treherne”), a private company controlled by Mr. Clay Riddell,
has subscribed for CDN$20,000,000 of the Private Placement (the “Treherne
Subscription”). The Company has offered a position on its Board of
Directors to Mr. Riddell, or another Treherne representative, subject to
approval of such representative by the Company’s Board of Directors, upon the
closing of the Private Placement and the Treherne Subscription. The
new director will be announced after closing of the Private Placement and the
Treherne Subscription.
The
Common Shares issued pursuant to the Private Placement are subject to a four
month plus one day hold from the date of closing of the Private Placement in
accordance with applicable Canadian securities legislation. Closing
of the Private Placement is expected to occur on or about January 14, 2010 and
is subject to receipt of all necessary regulatory approvals and other customary
conditions.
Proceeds
from the Private Placement will be used for the Company’s exploration and
development activities in its domestic and international operations and for
general corporate purposes. Jennings Capital Inc. is acting as
financial advisor to the Company.
Canadian
Superior Energy Inc. is a Calgary, Alberta, Canada based diversified global
energy company engaged in the exploration and production of oil and natural gas
and in the development of a liquefied natural gas (“LNG”)
project. Its operations are located offshore Trinidad and Tobago,
Western Canada, North Africa, offshore Eastern Canada, and offshore Eastern
United States. See Canadian Superior’s website at www.cansup.com
to review further detail on Canadian Superior’s operations.
This
news release contains forward-looking information, including
the expectation of successful future results. Actual results could
differ materially due to changes in project schedules, commercial negotiations,
changes in energy pricing, unforeseen technical or the inability to raise
additional capital, therefore there can be no assurance that any of the
foregoing actions by the Company will be completed as
contemplated. Forward-looking information contained in this news
release is as of the date of this news release. The Company assumes
no obligation to update and/or revise this forward-looking information except as
required by law.
Statements
contained in this news release relating to future results, events and
expectations are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements involve known
and unknown risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates, projections,
resource potential and/or reserves, interpretations, prognoses, schedules or
achievements of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such statements. Such factors include, among others, those described in the
Company’s annual reports on Form 40-F or Form 20-F on file with the U.S.
Securities and Exchange Commission.
For
Further Information Please Contact:
Canadian
Superior Energy Inc.
Suite
3200, 500 - 4th Avenue S.W.
Calgary,
Alberta, Canada T2P 2V6
Investor
Relations
Phone:
(403) 294-1411
Fax:
(403) 216-2374
www.cansup.com
Document
3
For
Immediate Release
|
December
21, 2009
|
Canadian
Superior Energy Inc. Provides Operational and Financial Update
CALGARY,
ALBERTA--(Marketwire – December 21, 2009) – Canadian Superior Energy Inc.
("Canadian Superior" or the "Company") (TSX: SNG) (NYSE Amex LLC: SNG) today
provided an update to its shareholders.
“Since
the Company’s restructuring concluded in September, we have been increasing
production levels and moving forward on a number of different fronts,” said
Marvin Chronister, Canadian Superior’s Chairman of the Board, and “Today’s
report on our activities demonstrates a renewed commitment to keeping Canadian
Superior’s shareholders informed on the progress their company is
making.”
OPERATIONAL
UPDATE
Western
Canada
|
·
|
Daily
average production for the week ending December 2, 2009 is approximately
3,112 boe/d, an increase of approximately 410 boe/d or 13% from the third
quarter 2009 daily average production. Canadian Superior has been focused
on spending its remaining flow-through expenditure commitments during the
fourth quarter 2009. Subject to any operational disruptions, management
expects that the entire flow-through expenditure commitment will be
satisfied by year end. The Company currently has five rigs operating in
Alberta, drilling exploration wells for both oil and natural gas
targets.
|
Trinidad
and Tobago
|
·
|
Geophysical,
petrophysical and geological work is being done to advance the appraisal
strategy on Block 5c. Operator BG is considering the location and timing
of the first appraisal well of the Bounty discovery. Commercial
discussions with BG and the Ministry of Energy are ongoing in relation to
monetization options for Block 5c’s natural gas
discoveries.
|
Libya/Tunisia
|
·
|
Canadian
Superior is in discussion with potential rig operators and expects to
commence drilling its first well on the 7th of November Block by August
2010. This appraisal well will seek to prove the extension of the Tunisia
Zarat oil field into the 7th of November
Block.
|
Liberty
Liquefied Natural Gas (LNG) Project
|
·
|
Canadian
Superior is on track to file, by the third quarter 2010, US Federal and
State permit applications required for construction of the Liberty LNG
import project and natural gas pipeline. The Company believes
market conditions for importing LNG into the New York metropolitan area
remain favourable and the Liberty LNG Project’s choice of environmentally
favourable technology continues to receive strong local
support. The Liberty LNG Project anticipates first gas imports
into the region by year-end 2013.
|
Nova
Scotia
|
·
|
In
consideration of today's industry environment and market conditions,
Canadian Superior has allowed the Mayflower and Marauder (Exploration
Licenses 2406 and 2415) to lapse in favour of focusing on Trinidad and
other areas of greater oil prospectivity. Canadian Superior has decided to
extend the Mariner Block (Exploration License 2409) until at least
December 31, 2010.
|
FINANCIAL
UPDATE
Production
Hedge
|
·
|
In
December 2009, the Company entered into a financial hedge whereby a
Canadian chartered bank will buy 5500 GJ/day from Canadian Superior for
the period January 1, 2010 to December 31, 2010 at $5.50 CAD/GJ against
the AECO monthly average index. In entering into the hedge, the Company
seeks to limit and reduce the risk of cash flow uncertainty that it is
exposed to during the course of normal
operations.
|
Non-Brokered
Financing
|
·
|
On
December 18, 2009 the Company announced that it intends to raise up to
CDN$50,000,000 through a non-brokered private placement issue (the
"Private Placement") of up to 96,153,846 common shares at CDN$0.52 per
Common Share which is the Market Price as of December 16, 2009. (Market
Price has the meaning ascribed thereto in the TSX Company Manual.)
Treherne Resources Ltd., a private company controlled by Mr. Clay Riddell,
has subscribed for CDN$20,000,000 of the Private Placement. Closing of the
Private Placement is expected to occur on or about January 14, 2010 and is
subject to receipt of all necessary regulatory approvals and other
customary conditions. Proceeds from the Private Placement will be used for
the Company's exploration and development activities in its domestic and
international operations and for general corporate purposes. For
additional details, please refer to the full press release dated December
18, 2009 at www.cansup.com.
|
Mr.
Chronister continued “We anticipate that the financial flexibility provided by
the $50 million private placement combined with solid progress in developing our
global portfolio of assets, positions Canadian Superior to turn the
corner.”
Canadian Superior
Energy Inc. is a Calgary, Alberta, Canada based diversified global energy
company engaged in the exploration and production of oil and natural gas and in
the development of a liquefied natural gas (“LNG”) project. Its
operations are located offshore Trinidad and Tobago, Western Canada,
North Africa, offshore Eastern Canada, and offshore Eastern United
States. See Canadian Superior’s website at www.cansup.com
to review further detail on Canadian Superior’s operations.
This news
release contains forward-looking information, including the expectation of
successful future results. Actual results could differ materially due
to changes in project schedules, commercial negotiations, changes in energy
pricing, unforeseen technical or the inability to raise additional capital,
therefore there can be no assurance that any of the foregoing actions by the
Company will be completed as contemplated. Forward-looking
information contained in this news release is as of the date of this news
release. The Company assumes no obligation to update and/or revise
this forward-looking information except as required by law.
Statements
contained in this news release relating to future results, events and
expectations are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements involve known
and unknown risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates, projections,
resource potential and/or reserves, interpretations, prognoses, schedules or
achievements of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such statements. Such factors include, among others, those described in the
Company’s annual reports on Form 40-F or Form 20-F on file with the U.S.
Securities and Exchange Commission.
For
further information please contact:
Canadian
Superior Energy Inc.
Suite
3200, 500 - 4th Avenue S.W.
Calgary,
Alberta, Canada T2P 2V6
Investor
Relations
Phone:
(403) 294-1411
Fax:
(403) 216-2374
www.cansup.com
Document
4
For
Immediate Release
|
December
29, 2009
|
Canadian
Superior Energy Inc. Announces Restructuring of Series A Preferred
Stock
|
CALGARY,
ALBERTA--(Marketwire – December 29, 2009) – Canadian Superior Energy Inc.
("Canadian Superior" or the "Company") (TSX: SNG) (NYSE Amex LLC: SNG) announced
that it has agreed with West Coast Asset Management, Inc. (“West Coast”) to
amend the terms and conditions of the First Preferred Shares, Series A
(“Preferred Stock”) owned by West Coast Opportunity Fund, LLC, in the aggregate
principal amount of USD$15,000,000. Pursuant to the terms of the
proposed agreement, the Redemption Date has been extended from December 31, 2010
to December 31, 2011, the conversion price has been reduced from USD $2.50 to
USD $0.60 and West Coast will be granted 2,500,000 common share purchase
warrants exercisable at a price of USD $0.65 for each common share. The Company
can force conversion of the Preferred Stock at anytime in the future if its
common shares close at a price of at least a 100% premium to the conversion
price on a major US exchange for 20 out of any 30 consecutive trading days while
the common shares underlying the Preferred Stock are registered. The Chairman of the Board, Marvin Chronister, commented
“This transaction strengthens the balance sheet and reduces the short term
financing constraints on Canadian Superior”. Closing of the transaction is
subject to the receipt of all required approvals including approval of the
Toronto Stock Exchange and the NYSE Amex LLC.
Canadian
Superior Energy Inc. is a Calgary, Alberta, Canada based diversified global
energy company engaged in the exploration and production of oil and natural gas
and in the development of a liquefied natural gas (“LNG”)
project. Its operations are located offshore Trinidad and Tobago,
Western Canada, North Africa, offshore Eastern Canada, and offshore Eastern
United States. See Canadian Superior’s website at www.cansup.com
to review further detail on Canadian Superior’s operations.
This
news release contains forward-looking information, including the expectation of
successful future results. Actual results could differ materially due
to changes in project schedules, commercial negotiations, changes in energy
pricing, unforeseen technical or the inability to raise additional capital,
therefore there can be no assurance that any of the foregoing actions by the
Company will be completed as contemplated. Forward-looking
information contained in this news release is as of the date of this news
release. The Company assumes no obligation to update and/or revise
this forward-looking information except as required by law.
Statements
contained in this news release relating to future results, events and
expectations are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements involve known
and unknown risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates, projections,
resource potential and/or reserves, interpretations, prognoses, schedules or
achievements of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such statements. Such factors include, among others, those described in the
Company’s annual reports on Form 40-F or Form 20-F on file with the U.S.
Securities and Exchange Commission.
For
Further Information Please Contact:
Canadian
Superior Energy Inc.
Suite
3200, 500 - 4th Avenue S.W.
Calgary,
Alberta, Canada T2P 2V6
Investor
Relations
Phone:
(403) 294-1411
Fax:
(403) 216-2374
www.cansup.com
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
CANADIAN
SUPERIOR ENERGY INC.
|
|
(Registrant)
|
|
|
Date:
|
|
January
15, 2010
|
|
By:
|
/s/
Robb Thompson
|
|
Name:
|
Robb
Thompson
|
|
Title:
|
Chief
Financial Officer
|