Enterprise Oil Limited

Enterprise Oil Limited

April 06, 2006 13:22 ET

Enterprise Oil Announces Second Quarter Sales Revenue

ST. ALBERT, ALBERTA--(CCNMatthews - April 6, 2006) - Leonard D. Jaroszuk, President and CEO of Enterprise Oil Limited (TSX VENTURE:EON), is pleased to announce record second quarter sales revenue of approximately $14,000,000 for the three month period ending March 31st 2006. The increase in sales revenue from the first quarter to the second quarter was the result of strategic additions of equipment and manpower.

The company's subsidiary A.G. Grant Construction in Slave Lake, Alberta has completed its winter work program and clean-up tasks are underway in time for spring breakup. Crews will be preparing for spring and summer work programs located in the Southwest and North Slave Lake regions.

Management is excited about the addition of Trevor King Oilfield Services which closed April 1st 2006. The six months remaining in Enterprise's fiscal year will benefit greatly by the addition of this new business unit.

Negotiations for a third acquisition target are progressing with a potential closing date in early summer 2006.

Management expects to report its interim statements for the second quarter ending March 31st 2006 by May 10th 2006.

Enterprise Oil Limited is committed to growing its asset and revenue base through organic growth and a comprehensive acquisition strategy. Mr. Jaroszuk invites the investment community and all shareholders to visit the company's website at www.enterpriseoil.ca.


Leonard D. Jaroszuk

Forward Looking Statements

This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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

Contact Information

  • Enterprise Oil Limited
    Leonard D. Jaroszuk
    (780) 418-4400 or Toll Free: 888-303-3361
    Enterprise Oil Limited
    #2, 64 Riel Drive
    St. Albert, AB. T8N 5B3
    (780) 418-4400 or Toll Free: 888-303-3361
    (780) 418-1941 (FAX)
    Email: contact@EnterpriseOil.ca
    Website: www.EnterpriseOil.ca