Enterprise Oil Limited
TSX VENTURE : EON

Enterprise Oil Limited

September 07, 2005 18:02 ET

Enterprise Oil Proposes Private Placement

EDMONTON, ALBERTA--(CCNMatthews - Sept. 7, 2005) - Enterprise Oil Limited (TSX VENTURE:EON) (the "Corporation") announces that it proposes to carry out a private placement of 2,000,000 Units at a price of $0.25 per Unit, for total proceeds of $500,000. Each Unit is to consist of One Common Share and One Share Purchase Warrant; each Warrant shall have a term of one year and an exercise price of $0.35 per share. The proceeds of this placement will be used for working capital purposes. It is anticipated that no commissions or finders' fees will be paid respecting this placement. This proposed private placement is subject to receipt of subscription funds and approval of the TSX Venture Exchange.



ENTERPRISE OIL LIMITED

Per:
-----------------------
LEONARD D. JAROSZUK



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

Contact Information

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