Canadian Superior Energy Inc.
FORM 51-102 F4
BUSINESS ACQUISITION REPORT
Item 1 Identity of Reporting Issuer
1.1 Name and Address of Reporting Issuer
Canadian Superior Energy Inc. (“ Canadian Superior” or the “ Corporation ”)
3200, 500 – 4th Avenue S.W.
Calgary, AB T2P 2V6
1.2 Executive Officer
For further information, contact Robb Thompson, Chief Financial Officer of Canadian Superior
(telephone (403) 503-7944).
Item 2 Details of Acquisition
2.1 Nature of Business Acquired
On March 26, 2008 Canadian Superior completed a plan of arrangement under the Canada Business
Corporations Act (the “ Arrangement ”) involving Canadian Superior, Seeker Petroleum Ltd. (“
Seeker ”) and shareholders and optionholders of Seeker, pursuant to which Canadian Superior acquired
all of the issued and outstanding common shares of Seeker and Seeker became a wholly-owned
subsidiary of Canadian Superior.
Seeker is a privately held corporation incorporated under the laws of Canada with its principal and head
office located in Calgary, Alberta. Seeker is engaged in petroleum and natural gas exploration,
development and production in Western Canada.
2.2 Date of Acquisition
March 26, 2008
Pursuant to the Arrangement, previous shareholders of Seeker received, for each outstanding common
share of Seeker held by them, $0.85 cash or 0.2285 Canadian Superior common shares issued from
treasury, subject to a maximum cash component of $14.2 million and maximum share component of
7,651,866 Canadian Superior common shares. In addition, Canadian Superior paid approximately $8.0
million to settle the outstanding amount of Seekers revolving credit facility which was financed through
advances from Canadian Superior’s revolving credit facility.