2009-06-04-2009-06-02

To buy 45% stake in offshore block featuring 3 producing wells.

Centrica Plc, London, (London: CNA) plans to acquire a 45% interest in Block 5(c) off the southeastern coast of Trinidad from Canadian Superior Energy Inc., Calgary, (Toronto, Amex: SNG) for US$142.5 million in cash. The deal is subject to the Canadian courts and Trinidad and Tobago government. Canadian Superior is currently under bankruptcy protection through the Companies' Creditors Arrangement Act and is restructuring. Block 5(c) currently features three producing wells. The most recent completion, Endeavour, featured a flow rate of 56.4 million cubic feet of gas per day on March 1. Canadian Superior's board reports,, "The sale of 45% of Block 5(c) is a critical component of the company's restructuring. Scotia Waterous, which was engaged by the company to assist on the sale, undertook an extensive international marketing process in soliciting offers for up to 45 per cent working interest in Block 5(c)."