Canadian Superior Energy shareholder wants to replace entire board

By Lisa Kerner

Charlotte, N.C., May 18 - Canadian Superior Energy Inc. shareholder Palo Alto Investors, LLC requested that the company call a special meeting and elect a new slate of nominees directors as the board of directors, according to a schedule 13D filed on Monday with the Securities and Exchange Commission.

Palo Alto is soliciting proxies for its slate of nominees at Canadian Superior's annual and special meeting of shareholders to be held on June 26.

The shareholder's slate includes:

• Dr. William Roach, president and chief executive officer of UTS Energy Inc.;

• Dr. James M. Funk, independent consultant and former senior vice president of Equitable Resources and president of Equitable Production Co.;

• Dr. Michael Enachescu, the Husky Energy Senior Fellow in Exploration Geophysics at Memorial University of Newfoundland;

• Robert J. Hassler, former executive with Conoco/ConocoPhillips;

• Kerry R. Brittain, former senior vice president, general counsel and corporate secretary for Harvest Natural Resources Inc;

• Randolph (Randy) C. Coley; retired from private law practice with King & Spalding LLP;

• Marvin M. Chronister, energy finance and operations consultant; and

• F. Gardner Parker, trust manager of Camden Property Trust.

Palo Alto beneficially owns 15,752,500 shares, or 9.3%, of the Calgary, Alta., crude oil and natural gas exploration and production company.

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