EnQuest Energy Services Corp.

EnQuest Energy Services Corp.

June 02, 2009 07:00 ET

EnQuest Energy Services Corp. Releases First Quarter Financial Statements

CALGARY, ALBERTA--(Marketwire - June 1, 2009) - ENQUEST ENERGY SERVICES CORP. ("EnQuest" or the "Company") (TSX VENTURE:ENQ) - EnQuest announces the filing of its unaudited interim consolidated financial statements and management discussion and analysis ("MD&A") for the three months ended March 31, 2009 today. All figures are stated in USDs. Additional information relating to the Company is available on SEDAR at www.sedar.com.

EnQuest's CEO David Murray stated: "Uncertainty in the commodity and credit markets reflected themselves in the company's first quarter results. However, recent stability in commodity prices and an aggressive cost reduction program started in the first quarter and continued into the second quarter are expected to restore profitability in the Company."

The conditions required to revoke cease trade orders previously issued by each of the Alberta, British Columbia and Ontario Securities Commissions, as well as a trading halt by the TSX Venture Exchange, have now been satisfied such that the company expects its securities to be trading by June 3, 2009.

EnQuest provides energy services throughout North America in the following primary business segments: transportation services, rig moving, crane services, specialized heavy hauling, oilfield equipment rentals, retailer of new and refurbished Oil Country Tubular Goods, and pipe storage.

EnQuest provides services from Alaska to the Gulf of Mexico, with strategic locations in Alberta, Montana, Colorado, New Mexico, California, Texas, Arkansas, and Wyoming.

Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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