M. Scott Ratushny

September 02, 2009 14:02 ET

M. Scott Ratushny Acquires $500,000 Principal Amount of 14% Convertible Secured Subordinated Debentures of Enseco Energy Services Corp.

CALGARY, ALBERTA--(Marketwire - Sept. 2, 2009) - M. Scott Ratushny ("Mr. Ratushny") announces that he has acquired $500,000 principal amount of 14% convertible secured subordinated debentures (the "Debentures") of Enseco Energy Services Corp. ("Enseco") pursuant to a private placement offering that closed on August 31, 2009 (the "Private Placement"). The Debentures acquired by Mr. Ratushny represent approximately 30.96% of the $1,615,000 principal amount of the Debentures issued.

Subsequent to the Private Placement, Mr. Ratushny has ownership or control, directly or indirectly, of 17.03% of the common shares of Enseco ("Common Shares"), assuming the full conversion of securities held by Mr. Ratushny that are currently convertible into Common Shares.

Mr. Ratushny acquired the $500,000 principal amount of Debentures for investment purposes. Mr. Ratushny may in the future take such actions in respect of his shareholdings in Enseco as he may deem appropriate in light of the circumstances then existing, including the purchase of additional Common Shares, Debentures or other securities of Enseco through open market purchases or privately negotiated transactions, or the sale of all or a portion of his holdings in the open market or in privately negotiated transactions to one or more purchasers.

A copy of Mr. Ratushny's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Mr. Ratushny.

Contact Information

  • M. Scott Ratushny
    (403) 216-2705
    (403) 290-0587 (FAX)