In the First Report Of The Monitor dated March 12, 2009 , the Monitor Hardie & Kelly Inc. reveal the current progress made by Scotia Waterous to sell Canadian Superior Energy's holdings in Block 5(c):

13. Scotia Waterous advises the Monitor they have mobilized their global resources to attempt to meet the stringent time frames established by CSEI in light of the current circumstances. They are in the process of preparing a written report for the Monitor summarizing their progress to date but they have verbally advised as follows:

a) Data rooms have been established in Calgary, Houston and London;

b) Dozens of companies world wide have been contacted to make them aware of the opportunity; and,

c) Numerous parties have subsequently executed confidentiality agreements, visited the data rooms and have been given presentations;

14. We are advised by Scotia Waterous, that to date, they are encouraged by the initial feedback from interested parties. As of the date of this report a dead line for the receipt of non-binding bids has not been finalized but Scotia Waterous advises the deadline will be in advance of March 29, 2009."

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Best Wishes; Scott