Enterprise Oilfield Group, Inc.

Enterprise Oilfield Group, Inc.

January 19, 2010 13:24 ET

Enterprise Oilfield Group, Inc. Retains Contact Financial for Investor Communications Services

ST. ALBERT, ALBERTA--(Marketwire - Jan. 19, 2010) - Enterprise Oilfield Group, Inc ("Enterprise" or the "Company") (TSX:E) has engaged Contact Financial to develop and execute a comprehensive marketing and investor communications plan called the "Fast Focus" program to help raise awareness of the Company over a 3-month renewable term.

"We chose Enterprise as our latest "Fast Focus" client because the company in our opinion represents a perfect barometer for the recovery in the Alberta oil patch. Increasing demand for the Company's pipeline construction services from stronger oil and gas prices and the resurgence of the oil and gas industry in Alberta," says Keir Reynolds, vice president of Contact Financial.

Contact Financial is a Vancouver-based strategic marketing and communication firm that will increase Enterprise's exposure to industry stakeholders and investors. Contact Financial will be responsible for providing advice to the Company with respect to corporate development, producing and distributing effective marketing communication tools, and increasing investor awareness. For more information please visit www.contactfinancial.com.

Enterprise Oilfield Group, Inc. is a construction services company operating in the energy, utility and transportation infrastructure industry. The Company's focus is primarily underground construction and maintenance and above ground plants and facilities. The Company's strategy is to acquire complementary service companies in Western Canada, consolidating capital, management and human resources to support continued growth.

Under the renewable agreement, Contact Financial will receive a fee of $18,000 for an initial term of three months and $5,000 per month, on a month-to-month basis, thereafter. Contact Financial will further receive 300,000 incentive stock options exercisable for two years from date of signing to purchase common shares of the Company that will vest over a period of 12 months. Contact Financial is at arm's length to Enterprise Oilfield Group, Inc.

Forward Looking Statements

Certain statements contained in this release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on current beliefs or assumptions as to the outcome and timing of future events. Actual future results may differ materially. In particular, statements with respect to commodity prices and anticipated demand for the services of the Company contain forward looking information. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Contact Information

  • Enterprise Oilfield Group, Inc
    Leonard D. Jaroszuk
    President & CEO
    (780) 418-4400 or Toll Free: 1-888-303-3361
    Enterprise Oilfield Group, Inc
    Desmon O'Kell
    Vice President, Corp. Development
    (780) 418-4400 or Toll Free: 1-888-303-3361
    Contact Financial Corp.
    Keir Reynolds
    Vice President