Filed by Canadian Superior Energy Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Canada Southern Petroleum Ltd.
Commission File No.: 333-135127
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For Immediate Release
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July 11, 2006 |
CANADIAN SUPERIOR RESPONDS TO CANADA SOUTHERNS REVISED SHAREHOLDER
CIRCULAR ALLEGATION OF CANADIAN SUPERIORS FAILURE TO MEET
CALGARY,
ALBERTA (CCNMatthews June 29, 2006) Canadian Superior Energy Inc. (Canadian
Superior) (TSX:SNG) (AMEX:SNG) of Calgary, Alberta, Canada announced today that Canada Southern
Petroleum Ltd. (Canada Southern) (NASDAQ:CSPLF/TSX:CSW) in its revised July 5, 2006 directors
circular states that Canadian Superior has declined to make a presentation to Canada Southern and
its financial advisors with respect to its properties and the value of Canadian Superiors offer
to take over Canada Southern and the Directors of Canada Southern have previously stated that they
have carefully reviewed and considered Canadian Superiors offer to take over Canada
Southern. In Canadian Superiors opinion these statements are completely untrue.
On June 2, 2006 and on June 22, 2006 Canadian Superior offered to make a technical presentation to
Canada Southerns Board and the Companys geological and geophysical staff, and on June 22, 2006 by
writing Canadian Superior advised Canada Southern that such presentation could be attended by one
of Canada Southerns financial advisors. This proposal was made in response to the President of
Canada Southern indicating to Canadian Superior at a technical overview provided to him and Canada
Southerns legal counsel on June 2, 2006 by Canadian Superior at Canadian Superiors office that
Canada Southern would require Canada Southerns in-house technical staff to review Canadian
Superiors inventory of projects and assets to properly place a value on Canadian Superiors offer,
when Canadian Superior indicated it was going to make a cash and share bid for Canada Southern.
Canada Southerns President and legal counsel asked Canadian Superior to put Canadian Superiors
offer in writing to Canada Southern which was done within 48 hours of the meeting.
Canadian Superior continues and remains ready and willing at any time to provide Canada Southern
with the technical presentation as previously requested by Canada Southern. Canadian Superior is
also of the opinion that the Board of Directors of Canada Southern have a legal and fiduciary
obligation to properly, carefully and fully evaluate our offer to purchase Canada Southern.
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production
company with operations in Western Canada, offshore Trinidad and Tobago and offshore Nova Scotia.
See Canadian Superiors website at www.cansup.com to review Canadian Superiors Western
Canadian Operations, Trinidad and Tobago holdings and the Companys offshore Nova Scotia interests.
This news release contains forward-looking information on future production, project start-ups and
future capital spending. Actual results or estimated results could differ materially due to
changes in project schedules, operating performance, demand for oil and gas, commercial
negotiations or other technical and economic factors or services.
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 and other factors which may cause the
actual results, performance 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 Corporations annual
report on Form 40-F on file with the U.S. Securities and Exchange Commission and the Corporations
Offer to Purchase Canada Southern Petroleum Ltd. and Circular which has been filed as part of a
Schedule TO on file with the U.S. Securities and Exchange Commission
FOR FURTHER INFORMATION RELATED TO CANADIAN SUPERIOR ENERGY INC. AND/OR THIS NEWS RELEASE, PLEASE
CONTACT;
Canadian Superior Energy Inc.
Suite 3300, 400 3rd Avenue S.W.
Calgary, Alberta
Canada T2P 4H2
Investor Relations
Phone: (403) 294-1411
Fax: (403) 216-2374
www.cansup.com