Enseco Energy Services Corp.

Enseco Energy Services Corp.

October 16, 2008 17:11 ET

Enseco Energy Services Corp. Announces Stock Option Grants

CALGARY, ALBERTA--(Marketwire - Oct. 16, 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 835,500 options to officers and employees of Enseco of which 275,000 were granted to officers at a price of $0.28. The options vest over three years at the rate of one third each year commencing on October 16, 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, Midale and Fort St. John; North Dakota with an operation center in Minot; as well as corporate and sales offices located in Calgary. Enseco is led by an experienced management team currently offering well swabbing, production testing, open hole logging, 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