UNITED STATES            ---------------------
                       SECURITIES AND EXCHANGE COMMISSION       OMB APPROVAL
                             WASHINGTON, D.C. 10549        ---------------------
                                                           OMB Number: 3235-0145
                                                           Expires: December
                                                           31, 2005
                                                           Estimated average
                                                           burden hours per
                                                           response......11
                                                           ---------------------

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 5)*

                          Canadian Superior Energy Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    136644101
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2007
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[_]  Rule 13d-1(b)

[X]  Rule 13d-1(c)

[_]  Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


                               Page 1 of 10 pages



Cusip No.  136644101

--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     1346049 Ontario Limited
     I.R.S. Identification No. - Not applicable
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [X]
     (b)  [_]
--------------------------------------------------------------------------------
3.   SEC Use Only

--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization.
     Ontario, Canada
--------------------------------------------------------------------------------
                   5.   Sole Voting Power
                        12,933,913
Number of          -------------------------------------------------------------
Shares             6.   Shared Voting Power
Beneficially            0
Owned              -------------------------------------------------------------
by Each            7.   Sole Dispositive Power
Reporting               12,933,913
Person With:       -------------------------------------------------------------
                   8.   Shared Dispositive Power
                        0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person
     12,933,913*
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
     Instructions)         [_]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9).
     9.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)
     HC
--------------------------------------------------------------------------------

----------

*  See Item 4 below.


                               Page 2 of 10 pages



--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Trapeze Asset Management Inc.
     I.R.S. Identification No. - Not applicable
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [X]
     (b)  [_]
--------------------------------------------------------------------------------
3.   SEC Use Only

--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization.
     Ontario, Canada
--------------------------------------------------------------------------------
                   5.   Sole Voting Power
                        9,631,329
Number of          -------------------------------------------------------------
Shares             6.   Shared Voting Power
Beneficially            0
Owned              -------------------------------------------------------------
by Each            7.   Sole Dispositive Power
Reporting               9,631,329
Person With:       -------------------------------------------------------------
                   8.   Shared Dispositive Power
                        0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person
     12,933,913*
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
     Instructions)         [_]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9).
     9.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)
     IA
--------------------------------------------------------------------------------

----------

* See Item 4 below.


                               Page 3 of 10 pages



--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Trapeze Capital Corp.
     I.R.S. Identification No. - Not applicable
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [X]
     (b)  [_]
--------------------------------------------------------------------------------
3.   SEC Use Only

--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization.
     Ontario, Canada
--------------------------------------------------------------------------------
                   5.   Sole Voting Power
                        3,182,684
Number of          -------------------------------------------------------------
Shares             6.   Shared Voting Power
Beneficially            0
Owned              -------------------------------------------------------------
by Each            7.   Sole Dispositive Power
Reporting               3,182,684
Person With:       -------------------------------------------------------------
                   8.   Shared Dispositive Power
                        0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person
     12,933,913*
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
     Instructions)         [_]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9).
     9.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)
     BD
--------------------------------------------------------------------------------

----------

*  See Item 4 below.


                               Page 4 of 10 pages



--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Randall Abramson
     I.R.S. Identification No. - Not applicable
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [X]
     (b)  [_]
--------------------------------------------------------------------------------
3.   SEC Use Only

--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization.
     Canadian
--------------------------------------------------------------------------------
                   5.   Sole Voting Power
                        12,933,913
Number of          -------------------------------------------------------------
Shares             6.   Shared Voting Power
Beneficially            0
Owned              -------------------------------------------------------------
by Each            7.   Sole Dispositive Power
Reporting               12,933,913
Person With:       -------------------------------------------------------------
                   8.   Shared Dispositive Power
                        0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person
     12,933,913*
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
     Instructions)         [_]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9).
     9.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)
     HC
--------------------------------------------------------------------------------

----------

*  See Item 4 below.


                               Page 5 of 10 pages



ITEM 1.

     (a)  NAME OF ISSUER:

          Canadian Superior Energy Inc.

     (b)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

          400 3rd Avenue SW
          Suite 3300
          Calgary, Alberta CN T2P 4H2

ITEM 2.

     (a)  NAMES OF PERSONS FILING:

          This joint filing statement is being filed by 1346049 Ontario Limited
          ("Holdco"); Trapeze Asset Management Inc. ("TAMI"); Trapeze Capital
          Corp. ("TCC"); Randall Abramson ("Abramson"); and the group the
          above-named persons comprise. Holdco, TAMI, TCC, Abramson and the
          group they comprise are each sometimes referred to as a Reporting
          Person and, collectively, referred to as Reporting Persons. Holdco is
          a parent holding company for its operating subsidiaries, TCC and TAMI.
          TAMI is a Canadian investment adviser and is also registered as an
          investment adviser under the Investment Advisers Act of 1940, as
          amended. TCC is a Canadian investment dealer. Abramson serves as
          Director, Chief Executive Officer, President, Secretary and Treasurer
          of Holdco; Director, President, Chief Executive Officer, Secretary,
          Treasurer and Portfolio Manager of TAMI; and Director, President,
          Portfolio Manager and Compliance Officer of TCC. Holdco owns 100% of
          the outstanding voting stock of each of TCC and TAMI. Abramson owns
          82% of the outstanding capital stock of Holdco.

     (b)  ADDRESS OF PRINCIPAL BUSINESS OFFICE:

          The business address for each of the Reporting Persons is 22 St. Clair
          Avenue East, 18th Floor, Toronto, Ontario, Canada M4T 2S3.

     (c)  CITIZENSHIP:

          See Item 4 of the cover sheet for each Reporting Person.

     (d)  TITLE OF CLASS OF SECURITIES:

          Common Stock, no par value

     (e)  CUSIP NUMBER:

          136644101


                               Page 6 of 10 pages



ITEM 3. NA

ITEM 4. OWNERSHIP

     (a)-(c) The responses of the Reporting Persons to items 5 through 11 on the
     cover pages are incorporated herein by reference. Since Abramson, Holdco,
     TAMI and TCC comprise a "group" within the meaning of Section 13(d)(3) of
     the Exchange Act of 1934, as amended, each Reporting Person is reporting
     beneficial ownership in accordance with Exchange Act Rule 13d-5(a). As of
     the close of business on December 31, 2007, the Reporting Persons'
     beneficial ownership of Common Stock was 12,933,913 shares. Of this amount,
     119,900 shares of Common Stock were held by Abramson directly (including
     5,500 shares owned by Abramson's spouse); nil shares of Common Stock were
     held by Holdco directly; 3,182,684 shares of Common Stock were owned by
     advisory clients of TCC and held in accounts managed by TCC and 9,631,329
     shares of Common Stock were owned by advisory clients of TAMI and held in
     accounts managed by TAMI.

     Abramson exercises sole voting and dispositive power over shares held by
     each of the Reporting Persons. Holdco exercises sole voting and dispositive
     power over shares held by each of the Reporting Persons. TAMI exercises
     sole voting and dispositive power over the shares held in discretionary
     investment accounts managed by it. TCC exercises sole voting and
     dispositive power over the shares held in discretionary investment accounts
     managed by it. The Reporting Persons disclaim beneficial ownership in
     shares of Common Stock owned by the directors and officers of the Reporting
     Persons (except to the extent that shares are held in discretionary
     investment accounts managed by TAMI and TCC).

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

     If this statement is being filed to report the fact that as of the date
     hereof the reporting person has ceased to be the beneficial owner of more
     than five percent of the class of securities, check the following [_].


                               Page 7 of 10 pages



ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

     The clients of TAMI and TCC have the right to receive or the power to
     direct the receipt of dividends from, or the proceeds from the sale of, a
     portion of the shares beneficially owned by the Reporting Persons. No
     individual clients' holdings of such shares are more than five percent of
     the Issuer's total outstanding Common Stock.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

     See Items 2(a) and 4 above.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

     A group has filed this schedule pursuant to Rule 13d-1(c). See Exhibit 1,
     which states the identity of each member of the group.

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

          NA

ITEM 10. CERTIFICATION

     (a)  NA

     (b)  By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were not acquired and are not
          held for the purpose of or with the effect of changing or influencing
          the control of the issuer of the securities and were not acquired and
          are not held in connection with or as a participant in any transaction
          having that purpose or effect.


                               Page 8 of 10 pages



                                    SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date: February 6, 2008

                                         1346049 ONTARIO LIMITED


                                         By: /s/ Randall Abramson
                                         ------------------------
                                         Randall Abramson
                                         Chief Executive Officer


                                         TRAPEZE ASSET MANAGEMENT INC.


                                         By: /s/ Randall Abramson
                                         ------------------------
                                         Randall Abramson
                                         Chief Executive Officer


                                         TRAPEZE CAPITAL CORP.


                                         By: /s/ Randall Abramson
                                         ------------------------
                                         Randall Abramson
                                         President


                                         /s/ Randall Abramson
                                         ------------------------
                                         Randall Abramson



                               Page 9 of 10 pages



EXHIBIT 1

The members of the group filing this Schedule 13G are:

1.   1346049 Ontario Limited
2.   Trapeze Asset Management Inc.
3.   Trapeze Capital Corp.
4.   Randall Abramson


                              Page 10 of 10 pages