Enterprise Energy Resources Ltd.
TSX VENTURE : EER

Enterprise Energy Resources Ltd.

November 04, 2009 08:00 ET

Enterprise Energy Resources Ltd.: Sale of Bordeaux Alaska Holdings, Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2009) - Enterprise Energy Resources Ltd. ("EER") (TSX VENTURE:EER) announces that it has entered into an agreement with Savant Alaska, LLC to sell all the shares of its wholly owned subsidiary, Bordeaux Alaska Holdings, Inc. for US$700,000. The transaction is expected to close on or about November 30, 2009.

The sale is subject to approval by the TSX Venture Exchange and other customary closing conditions.

ENTERPRISE ENERGY RESOURCES LTD.

Geoffrey Carrington, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to those with respect to the closing of the sale, uncertainties and other factors which may cause the actual results, performance or achievements of EER to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although EER has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Shares Outstanding: 5,040,116

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information