Enseco Energy Services Corp.

Enseco Energy Services Corp.

March 17, 2008 20:03 ET

Enseco Energy Services Corp. Announces Stock Option Grants

CALGARY, ALBERTA--(Marketwire - March 17, 2008) - Enseco Energy Services Corp. ("Enseco") (TSX VENTURE:ENS) announces stock option grants to officers and employees.

Enseco announces that it has granted an aggregate of 745,000 options to certain officers, employees and a director of Enseco of which 440,000 were granted to officers and the director at a price of $0.45. The options vest over three years at the rate of one third each year commencing on March 17, 2009 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
    Enseco Energy Services Corp.
    Aly Khan Musani
    Senior Vice President and CFO
    (403) 806-0088