Canada Energy Partners : Announces Resignation of Director

December 3, 2019 - Vancouver, British Columbia - Canada Energy Partners Inc.'s (TSX-V: CE.H) (the 'Company' or 'Canada Energy') wishes to advise that Jonathan Bahnuik has resigned as a director of the Company effective immediately.

The Company thanks Mr. Bahnuik for his contributions during his tenure with Canada Energy and wishes him well in his future endeavours.

As previously announced on November 13, 2019, the Company is in a difficult financial position and there is no assurance that the Company can continue to be commercially viable.

On behalf of the Board of Directors of
Canada Energy Partners Inc.

'Benjamin Jones'

Benjamin Jones
President & CEO

For more information, please contact:-

CANADA ENERGY PARTNERS INC.
343 3rd Street, Suite 412
Baton Rouge, LA
70801-1309 USA
Main Phone: [phone] / Fax: [phone]
Email: [email protected]

www.canadaenergypartners.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words or statements that certain events or conditions 'may' or 'will' occur, including, without limitation, estimated revenues.

Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation, regulatory approvals, mechanical integrity of the water disposal well, receptivity of the disposal zone, variability of operating costs, risks associated with oil and gas production and exploration, retention of and ability to attract company personnel, volatility of commodity prices, currency and interest rate fluctuations, environmental risk, inability to access sufficient capital from internal and external sources and changes in legislation, including income tax, environmental and regulatory matters.

This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by law.