Canada Energy Partners Inc. announced that it has negotiated and signed two separate Letters of Intent, one with a private oil company based in the UK and the second with a private, domestic oil producer based in Gabon, West Africa. The first Letter of Intent provides for the Company to acquire a 1.69% interest in a 166.7 KM2 prospective licensed property. Within the licensed property there are 7 identified assets, of which 4 are onshore and 3 offshore in shallow water.

The second Letter of Intent provides for the Company to acquire a 38.31% interest in the of the 7 identified assets. Ultimately, the Company will acquire a total of 40% interest in the onshore asset.