XPL Canadian Energy Exploration Inc.

Canadian Energy Exploration Inc. ("Canadian Energy" or the "Company") (TSX
VENTURE:XPL) announces financial and operating results for the third quarter
ended September 30, 2010 and an update of current activities. The reviewed but
unaudited financial statements as at and for the third quarter ended September
30, 2010, together with the notes thereto; and management's discussion and
analysis of financial condition and results of operations as at and for the
third quarter ended September 30, 2010 can be accessed electronically on the
System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com




Third Quarter Highlights

--  Average gas production during the third quarter 2010 was slightly
    higherat 21 Boe per day; inclusive of an average LPG production during
    the third quarter 2010 of1.0 Boe per day. 
    
--  Petroleum and natural gas sales gross revenue was $40,148, and net loss
    was $500,534. 
    
--  Alberta and Saskatchewan Crown land sale acquisitions totalled 321.50
    hectares (803.75 acres) for $99,082. 

Operational Update

--  In addition to our new President and Chief Executive Officer, and Vice
    President, Exploration, we hired 6 consultants focused on pursuing our
    light oil plays in both Alberta and Saskatchewan. 
    
--  The Company raised $7,000,000 in gross proceeds from a private placement
    which closed November 23, 2010. 
    
--  The Company is operationally focused in SE Saskatchewan and has spudded
    its first exploratory well there as part of a three well exploratory
    commitment seeking light, sweet oil through conventional vertical
    drilling applications. 
    



Canadian Energy is an oil and gas company engaged in the exploration for, and
the acquisition, development and production of, oil and natural gas reserves
primarily in Western Canada. Canadian Energy has 70,976,731 common shares
outstanding (basic) and 77,386,731 on a fully diluted basis as at today's date.


In this Press Release the calculation of barrels of oil equivalent (Boe) is
calculated at a conversion rate of six thousand cubic feet (Mcf) of natural gas
for one barrel (Bbl) of oil based on an energy equivalency conversion method.
Boe's may be misleading particularly if used in isolation. A Boe conversion
ratio of 6 Mcf: 1Bbl is based on an energy equivalency conversion method
primarily applicable to the burner tip and does not represent a value
equivalency at the wellhead.


Forward Looking Statements: 

This press release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements"), including statements
regarding Canadian Energy's business, such as the review of strategic
alternatives and establishing a portfolio base, which by their nature are
forward-looking statements and which are subject to numerous risks and
uncertainties, some of which are beyond Canadian Energy's control, including the
impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, operational risks in exploration and development,
competition from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and the ability to
access sufficient capital from internal and external sources. Although Canadian
Energy believes that the expectations in our forward-looking statements are
reasonable, our forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be inaccurate. Those
factors and assumptions are based upon currently available information. Such
statements are subject to known and unknown risks, uncertainties and other
factors that could influence actual results or events and cause actual results
or events to differ materially from those stated, anticipated or implied in the
forward looking information. As such, readers are cautioned not to place undue
reliance on the forward looking information, as no assurance can be provided as
to future results, levels of activity or achievements. The forward-looking
statements contained in this document are made as of the date of this document
and, except as required by applicable law, Canadian Energy does not undertake
any obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking statements contained in this document
are expressly qualified by this cautionary statement.


About Canadian Energy Exploration Inc. 

Canadian Energy Exploration Inc. is a junior oil and gas company engaged in the
exploration for and development and production of natural gas and oil reserves.
The Company's common shares are listed to trade on the TSX Venture Exchange
under the symbol "XPL".

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