Palo Alto Investors, LLC Comments on Canadian Superior Annual and Special Meeting

• Press Release
• Source: Palo Alto Investors, LLC
• On 10:43 am EDT, Thursday September 10, 2009

PALO ALTO, Calif.--(BUSINESS WIRE)--Palo Alto Investors, LLC (“Palo Alto”) today expressed its ongoing support of Canadian Superior Energy Inc. (TSX, NYSE: SNG - News News) and its new strengthened Board of Directors. New Directors Kerry R. Brittain, Marvin M. Chronister, Dr. James Funk, Dr. William Roach, and Gregory G. Turnbull were elected at today’s annual and special meeting of shareholders, along with the re-election of existing Director Richard Watkins. Palo Alto played a key role in helping reconstitute the Board to ensure a strong, independent group of Directors that are well positioned to work on behalf of shareholders.

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David Anderson, Head of Energy Research at Palo Alto commented: “We believe in Canadian Superior and are excited about the prospects for the Company as a result of the leadership from this new Board. We are firm believers in the meaningful value that can be created through excellent corporate governance and are confident that this Board has the knowledge, relevant experience and independent judgement to manage the Company’s assets for the benefit of all shareholders.” Palo Alto has been working since September 2008 to encourage changes at the Board and management level that would eliminate issues which Palo Alto believes have impeded the full realization of shareholder value.

“We believe there is tremendous upside to be generated with these assets under the management and direction of the right people, and a ripe opportunity for the Company to create significant value going forward,” said Mr. Anderson. “The oil and gas business is at a crossroads, and the best companies will be led by those who can evaluate competing opportunities, set appropriate strategies, properly allocate capital, engender market confidence through transparency, and execute on the plans they lay out. We have confidence that this new Board can do exactly that, and we look forward to an era of excellence from the new Canadian Superior.”

About Palo Alto Investors

Since its inception in 1989, Palo Alto Investors, LLC (“Palo Alto”) has focused exclusively on overlooked, misunderstood and undervalued segments of the equity markets. Palo Alto is committed to providing world class money management services to high net worth and institutional investors. Located in Palo Alto, Calif., Palo Alto employs 20 professionals and manages over $1 billion in assets. The firm is independently owned with significant Partner ownership interest.

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Mary Beth Kissane, 212-590-0536
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