Enseco Energy Services Corp.

Enseco Energy Services Corp.

October 31, 2006 15:52 ET

Enseco Energy Services Corp. Announces Officer Appointment and Private Placement

CALGARY, ALBERTA--(CCNMatthews - Oct. 31, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Enseco Energy Services Corp. ("Enseco") is pleased to announce the appointment of Kent Devlin as Vice President Operations. The following are brief descriptions of the key members of Enseco's management team:

Kelly M. Nichol, Director and President and Chief Executive Officer

Mr. Nichol is the original founder of Enseco, and holds the overall responsibility of direction and leadership of the corporation. Mr. Nichol has over 20 years of extensive exploration, production and service industry operations and management experience, including eight years operational experience internationally in various locations such as Qatar, United Arab Emirates, Azerbaijan, and Venezuela.

Mr. Nichol holds a bachelor's degree in applied petroleum engineering, and began his career in the early 1980s with Petro-Canada. He has worked with several top-tier exploration and production companies. Most recently, Mr. Nichol held the position of Vice-president Corporate Development/Chief Operating Officer and director of Big Eagle Limited Partnership.

Randy Nicholls, C.A. - Vice President Finance

Mr. Nicholls is a Chartered Accountant and holds a bachelor of commerce (Honours) degree from the University of Manitoba. He has held positions such as Controller for a privately owned group of manufacturing companies, and Audit and Business Advisory Services Manager with Arthur Andersen. Prior to joining Enseco, Mr. Nicholls was Corporate Controller for Parkland Income Fund, where he was responsible for public reporting and compliance, investor relations, treasury, and information technology.

Kent Devlin, P. Eng., MBA - Vice President Operations

Mr. Devlin has overall responsibility of Enseco's field operations. Prior to joining Enseco, Mr. Devlin has in excess of 20 years experience in the oil service industry all with Computalog, Precision and Weatherford. He has held numerous leadership and operations positions in Canada and the United States, primarily in the areas of wireline and directional drilling services. Mr. Devlin has held the position of Global Marketing Manager with Precision Drilling, and was most recently responsible for all of their sales, engineering, and technical support for drilling services in Canada.

Mr. Devlin is a professional engineer with a bachelor of science in mechanical engineering from the University of Manitoba, and an MBA from the University of Calgary. He is a member of the Society of Petroleum Engineers (SPE) and the Society of Petrophysicists and Well Log Analysts (SPWLA).

Rob Koller, CA, CBV - Vice President Business Development

Mr. Koller has overall responsibility of business development and acquisitions at Enseco. He was formerly a Senior Manager with Deloitte & Touche LLP, within the Financial Advisory Services department specializing in business valuation, damage quantification, and loss of income claims.

Mr. Koller is a Chartered Accountant and Chartered Business Valuator, and holds a bachelor of commerce (with great distinction) degree from the University of Saskatchewan.

Kim B. Jespersen - Manager, Environment, Health and Safety

Mr. Jespersen holds the overall responsibility of Enseco's Corporate Environmental, Health and Safety program. He has more than 26 years of extensive experience in exploration, production, operational, and municipal emergency medical service management.

Mr. Jespersen holds a professional designation with the Board of Canadian Registered Safety Professionals, and had a 25-year career with Petro-Canada starting in 1980. He supported various facets for Petro-Canada, including facilities, drilling, major sour gas plants, environmental health and safety, stakeholder and community affairs interaction (including First Nations), and oil sands. Most recently, Mr. Jespersen held the position of Manager - Environment, Health and Safety at Harvest Energy Trust.

Enseco is also pleased to announce it has engaged Sprott Securities Inc. to act as lead agent in connection with a marketed private placement (the "Private Placement") of subscription receipts ("Subscription Receipts") of Enseco on a "best efforts" basis. The number and price of the Subscription Receipts to be offered under the Private Placement will be determined by the agents and Enseco in the context of the market. Each Subscription Receipt will entitle the holder thereof to acquire either one-half or one common share of Enseco without payment of additional consideration on satisfaction of certain conditions. The closing of the Private Placement will be subject to certain conditions, including the completion of satisfactory due diligence by Sprott and obtaining necessary regulatory approvals.

This news release does not constitute an offer to sell or solicitation of an offer to buy any securities in the United States. The subscription receipts and common shares have not been and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Enseco Energy Services Corp.
    Kelly M. Nichol
    President and CEO
    (403) 514-8115 ext. 225
    Email: knichol@enseco.ca