Enseco Energy Services Corp.

Enseco Energy Services Corp.

November 18, 2009 19:20 ET

Enseco Energy Services Corp. Announces Closing of Its Previously Announced Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 18, 2009) - Enseco Energy Services Corp. ("Enseco" or the "Company") (TSX VENTURE:ENS) is pleased to announce the closing of its previously announced private placement ("Private Placement") of 8,500,000 common shares ("Common Shares") of Enseco to Dewar Lake Ranch Inc. ("Dewar Lake"), a company controlled by Lane Roberts, the Company's new President and Chief Executive Officer.

The Common Shares issued pursuant to the Private Placement represent approximately 15.76% of the currently issued and outstanding Common Shares of Enseco. Subsequent to the Private Placement Mr. Roberts holds, directly or indirectly, 8,500,000 Common Shares representing approximately 15.76% of the issued and outstanding Common Shares. Mr. Roberts acquired the Common Shares for investment purposes and may, from time to time, as market opportunities exist or develop, increase or decrease his beneficial ownership of the Common Shares as permitted by applicable securities laws.

Enseco is an supplier of energy related services operating throughout Western Canada and the United States, with operational centres in Red Deer, Whitecourt, Edmonton, Beaverlodge, Grande Prairie, Fort St. John, Midale, Saskatchewan and Minot, North Dakota, Montana, Wyoming as well as a corporate and sales office located in Calgary. Enseco is led by an experienced management team currently offering well swabbing, production testing, open hole logging, and directional drilling services with a focus on continued value creation through accretive acquisitions and organic growth.

Neither the TSX Venture Exchange nor its Regulation Service 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

  • Enseco Energy Services Corp.
    Lane Roberts
    President and CEO
    (403) 806-0088