Canadian Superior has signed an Assignment and Transfer Agreement with BG Tunisia Limited and ENSCO Offshore International Company related to the ENSCO 105 drilling rig.

The ENSCO 105 is a 'jackup' rig (independent leg cantilever) built in 2002 and rated for water depths up to 375 feet and drilling depths down to 30,000 feet. This rig has been in the Mediterranean for the last few years on contract with BG. It is anticipated that Canadian Superior will take operational possession of the rig sometime in the 4th quarter of 2010 for the drilling of the Zarat North appraisal well on the 7th of November Block, offshore Tunisia / Libya.

The well will be drilled to approximately 3000 meters to test the El Gueria Formation. It is anticipated the well will take 45 days to drill and evaluate with a possible testing program to follow.

Canadian Superior is the operator of the 7th of November Block. Under a Participation Agreement, Canadian Superior holds a direct 50% interest in the Block and holds the remaining 50% interest in trust for a third party which is also obligated to pay 50% of project costs.

Tags: Canadian Superior Energy Inc.