Enterprise Oil Limited
TSX VENTURE : EON

Enterprise Oil Limited

November 11, 2005 09:00 ET

Enterprise Oil Announces Proposed Private Placement

EDMONTON, ALBERTA--(CCNMatthews - Nov. 11, 2005) - Enterprise Oil Limited (TSX VENTURE:EON) (the "Corporation") announces that it is proposing to carry out a private placement of up to 2,000,000 Units at a price of $0.50 per Unit for total proceeds of up to $1,000,000. Each Unit will consist of One Common Share and One Share Purchase Warrant, each Warrant having a term of one year and an exercise price of $0.75 per share. It is anticipated that the proceeds of this private placement will be used for general working capital purposes, and that no finder's fees will be paid. The private placement is subject to approval of the TSX Venture Exchange, and there is no assurance that this placement will be completed either in whole or in part.



ENTERPRISE OIL LIMITED


Per: ___________________________
LEONARD D. JAROSZUK


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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