Canada Energy Partners Announces Year-End Reserve & Resource Update With Significant Increase in Montney Resource

Canada Energy Partners (the "Company") (TSX VENTURE:CE) is pleased to announce
its year-end reserve and resource update, effective April 30, 2013. GLJ
Petroleum Consultants evaluated the Company's Montney reserves and resources and
Netherland Sewell and Associates evaluated the Peace River CBM Project's
reserves and resources. The Company received an increase in its Contingent
Resources of 173 BCFe associated with its Monias Property.


The Company's reserves are summarized below. The year-over-year reserves are
essentially unchanged from last year. 7.1% of the Company's Montney lands have
booked reserves.




                                                                            
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         Canada Energy Ptnrs             CE Net       Undisc CF        PV10%
               Reserves                 BCFe(i)            C$MM         C$MM
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                                 CE Montney                                 
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Proved                                      8.9         $  12.6      $   2.2
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Proved + Probable                          25.0         $  49.1      $  12.5
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Proved + Probable + Possible               31.9         $  76.1      $  22.6
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                             CE Peace River CBM                             
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Proved                                      0.4         $   0.6      $   0.4
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Proved + Probable                          23.5         $  77.8      $  30.8
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Proved + Probable + Possible              102.5         $ 277.6      $  81.4
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CE Reserve Totals =                       134.4         $ 353.7      $ 104.0
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(i)6:1 Gas/Oil ratio                                                        



The Company's resources are summarized below. Offset drilling adjacent to the
Company's Monias property has resulted in attribution of 173 BCFe of Contingent
Resources to the Monias property, with a liquids component of 14 barrels per
million cubic feet. The Company had no Contingent Resources on this property
last year. Montney Contingent Resources are ascribed to only 10.5% of the
Company's Montney lands and are all attributable to the Monias property.




                                                                            
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         Canada Energy Ptnrs             CE Net       Undisc CF        PV10%
              Resources                 BCFe(i)            C$MM         C$MM
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                                 CE Montney                                 
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Best Estimate Contingent Resources        173.1       $   417.4      $  76.1
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                             CE Peace River CBM                             
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Best Estimate Contingent Resources        394.1       $ 1,218.0      $ 294.9
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CE Contingent Resource Totals =           567.2       $ 1,635.4      $ 371.0
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(i)6:1 Gas/Oil ratio                                                        



Netherland Sewell also provided a year-end update on the Peace River CBM
Project. Their assessment was essentially unchanged from their prior assessments
at 102.5 BCF of proved, probable, possible reserves and 394.1 BCF of Best
Estimate Contingent Resources net to CE for the CBM Project. These resources are
uneconomic at current gas prices and development of these resources will be
contingent on higher realized gas prices or drilling/completion technology
advances.


As shown on the map below, Shell is intensively developing the Montney
immediately adjacent to the Company's Monias lands and seeing exceptional
results. Shell's permitting activity indicates they are stacking laterals 3 to 5
deep in the Upper Montney which would imply 12-20 wells per section. GLJ's
analysis indicates an average estimated ultimate recovery per well ("EUR"), on a
proved and probable basis, of 4.5 BCFe per well with +/-14 barrels of natural
gas liquids per million cubic feet. The Company has 5 net sections at Monias
which could yield 60-100 drilling locations.


To view the Monias Area Activity map, please visit the following link:
http://media3.marketwire.com/docs/ActivityMap6-18-13.pdf.


As momentum builds toward LNG exports out of the west coast of British Columbia,
the Montney Trend of northeast British Columbia continues to be a focal point of
M&A activity in Western Canada as demonstrated by $15.9 billion of land
transactions in the last 44 months, as summarized in the following table.


To view the Raw Acreage Valuation table, please visit the following link:
http://media3.marketwire.com/docs/Table3CE.pdf.


Definitions: 

"Proved reserves" are those quantities of petroleum, which by analysis of
geosciences and engineering data, can be estimated with reasonable certainty to
be commercially recoverable, from a given date forward, from known reservoirs
and under defined economic conditions, operating methods, and government
regulations.


"Probable reserves" are those additional Reserves which analysis of geosciences
and engineering data indicate are less likely to be recovered than Proved
Reserves but more certain to be recovered than Possible Reserves.


"Possible reserves" are those additional reserves which analysis of geoscience
and engineering data indicate are less likely to be recovered than probable
reserves. 


"Contingent resources" are defined as those quantities of oil and gas estimated
on a given date to be potentially recoverable from known accumulations but are
not currently economic due to one or more contingencies. There is no certainty
that it will be commercially viable to produce any portion of the resources
described in the evaluation. The primary contingency which prevents the
classification of the Company's Montney contingent resources at Peace River as
reserves is the current early stage of development of the property. Additional
drilling, completion, and testing data is generally required before the Company
can commit to their future development. The contingencies that result in the
classification of the Gething CBM as a contingent resource include, but are not
limited to: permeability to gas, gas saturation and/or content, an appropriate
and successful field development plan, corporate commitment, and economic
factors.  


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

John Proust, Chairman

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canada Energy Partners Inc.
Attention: John Proust
Chairman
Direct Phone: [phone]
[e-mail]


Canada Energy Partners Inc.
Attention: Ben Jones
President and CEO
Direct Phone: [phone]
[e-mail]


Canada Energy Partners Inc.
1500 - 885 West Georgia St.
Vancouver, BC V6C 3E8
Main Phone: [phone]
[phone] (FAX)
www.canadaenergypartners.com