Enseco Energy Services Corp.

Enseco Energy Services Corp.

June 07, 2007 17:26 ET

Enseco Energy Services Corp. Announces Appointment of New Chief Executive Officer and Stock Option Grants

CALGARY, ALBERTA--(Marketwire - June 7, 2007) - Enseco Energy Services Corp. ("Enseco") (TSX VENTURE:ENS) announces that effective immediately, David Hawkins has been appointed by the Board as Enseco's President and Chief Executive Officer. Kelly Nichol has resigned as the President and Chief Executive Officer of Enseco to pursue other opportunities. Enseco would like to thank Mr. Nichol for his many contributions and is pleased to confirm that Mr. Nichol will remain as a director of Enseco.

Enseco also announces that it has granted an aggregate of 190,000 options to certain officers and a director of Enseco at a price of $1.80. The options are exercisable at the rate of one third each year commening on June 7, 2008 and each of the next two years thereafter and expire in five years.

Enseco is an emerging supplier of energy related services operating throughout the Western Canadian Sedimentary Basin with operational centres in Red Deer, Whitecourt, Edmonton, Beaverlodge, Grande Prairie, and Fort St. John, as well as corporate and sales offices located in Calgary. Enseco is led by an experienced management team currently offering well swabbing, production testing, cased hole logging, perforating and propellant stimulation services and directional drilling services with a focus on continued value creation through accretive acquisitions and organic growth.

This press release contains forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of Enseco to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for services provided by Enseco, industry competition and Enseco's ability to attract and retain both customers and key personnel.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Enseco Energy Services Corp.
    David A. Hawkins
    President and CEO
    (403) 806-0088