EnQuest Energy Services Corp.
TSX VENTURE : ENQ

EnQuest Energy Services Corp.

February 12, 2010 16:10 ET

EnQuest Signs Letter of Intent to Sell Assets

CALGARY, ALBERTA--(Marketwire - Feb. 12, 2010) - ENQUEST ENERGY SERVICES CORP. ("EnQuest" or "the Corporation") (TSX VENTURE:ENQ) announces that it has signed a Letter of Intent with a US based corporation to sell assets.

The Letter of Intent addresses the sale of substantially all of the assets of Speedy Heavy Hauling, Inc. The transaction contemplated by the Letter of Intent is subject to, among other things, the completion of due diligence and the obtaining by the purchaser of financing approval. Shareholders are advised that any transaction will require shareholder approval and may be subject to regulatory approval.

The Corporation is continuing to pursue the sale of other assets of the Corporation. EnQuest also continues its program of cost reductions in an effort to bring about profitability.

EnQuest has operations through-out the United States and Canada. The common shares of EnQuest are listed on the TSX Venture Exchange and trade under the symbol "ENQ".

Contact Information

  • EnQuest Energy Services Corp.
    W.T. David Murray
    Chief Executive Officer
    (970) 241-3420
    (970) 242-5078 (FAX)
    wtdmurray@enquestenegy.com
    or
    EnQuest Energy Services Corp.
    Mark P. Voorhies
    Senior Vice President
    (970) 241-3420
    (970) 242-5078 (FAX)
    mvoorhies@enquestenergy.com
    or
    EnQuest Energy Services Corp.
    Geoff Kritzinger, CA
    Senior Vice President & CFO
    (970) 241-3420
    (970 242-5078 (FAX)
    gkritzinger@enquestenergy.com