Enterprise Oil Limited

Enterprise Oil Limited

October 03, 2005 18:57 ET

Enterprise Oil Completes Private Placement

EDMONTON, ALBERTA--(CCNMatthews - Oct. 3, 2005) - Enterprise Oil Limited (TSX VENTURE:EON) (the "Corporation") announces that it has now completed the private placement of 2,000,000 Units at a price of $0.25 per Unit, for total proceeds of $500,000. Each Unit consists of One Common Share and One Share Purchase Warrant with a term of one year and an exercise price of $0.35 per share. The Common Shares and Warrants issued in this private placement are subject to a hold period expiring January 30, 2006. No finders fee's have been paid with respect to this placement. The proceeds of this placement are being used for working capital purposes.

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

Contact Information

  • Enterprise Oil Limited
    Leonard D. Jaroszuk
    (780) 915-5999