Enseco Energy Services Corp. (TSX VENTURE:ENS) ("Enseco" or the "Company") is
pleased to announce that it has received notice from the underwriters that its
previously announced private placement (the "Offering") has been fully
subscribed and the underwriters are exercising their full option to purchase an
additional $3,000,000 (15,000,000 units) of the Offering (the "Underwriters
Option"). Each unit consists of one common share and one half (1/2) of a
warrant. Each whole warrant entitles the holder to purchase one additional
common share at a price of $0.25 for a period of one year. With the exercise of
the Underwriters' Option, the total gross proceeds to the Company from the
Offering will be $8,000,000. The Offering is being led by Desjardins Securities
Inc. and includes FirstEnergy Capital Corp., Wellington West Capital Markets
Inc. and Acumen Capital Finance Partners Limited and is scheduled to close on or
about February 10, 2010. The net proceeds of the Offering will be used to fund
the previously announced acquisition of the directional drilling kits and
related assets of a private energy services company with significant operations
in the United States and for general corporate purposes. 


Enseco is also pleased to announce that it has entered into an agreement to sell
its remaining wireline units for an aggregate purchase price of $1.15 million.
The sale is expected to close on February 12, 2010 and will result in the
discontinuation of the Company's wireline operations. This is the third step in
the Company's new business strategy to expand its North American resource play
services. The first step was the acquisition of Focus Directional Drilling
("Focus") on December 1, 2009 (the "Focus Acquisition"). The Focus Acquisition
increased Enseco's inventory of directional drilling kits from 6 to 24 and
provided Enseco with positive cash flow operations and a solid foundation for
future growth. Focus generated revenues of approximately $17.2 million,
estimated gross margin of $5.9 million and $4.0 million in earnings before
interest, taxes, depreciation and amortization ("EBITDA"), for the twelve months
ended September 30, 2009. As at September 30, 2009, Focus had estimated working
capital, excluding the current portion of long term debt of approximately $1.2
million, property and equipment with a book value of approximately $5.2 million,
estimated assets of $8.6 million and total debt of approximately $3.0 million.  


The second step in the Company's efforts to expand its North American resource
play services was the recently announced acquisition of the directional drilling
kits and related assets of a private energy services company (the "Private
Company") with significant operations in the United States (the "Announced
Acquisition"), which is expected to close on February 12, 2010. The Announced
Acquisition will include 10 directional drilling kits, 70 motors and other
related equipment that are currently operating in west Texas, the Rocky
Mountains and the Marcellus shale regions of the United States. The Private
Company generated revenues of approximately $10.5 million and $2.0 million in
EBITDA (including non-recurring management expenses) for the year ended December
31, 2009. Enseco's obligation to complete the Announced Acquisition is subject
to various conditions, including receipt of regulatory approval, completion of
the Offering and the satisfactory completion of due diligence. 


Enseco expects to realize significant annual cost savings and other synergies
from these acquisitions. Consolidated revenues of Enseco after completion of the
acquisitions is expected to be approximately $55.0 million for the twelve months
ended September 30, 2009 and combined EBITDA (after adjusting for expected cost
savings and synergies) of approximately $7.3 million.


Enseco is a growing supplier of energy related services operating throughout
western Canada and the United States, with operational centres in Red Deer,
Edmonton, Beaverlodge, Fort St. John, Midale (Saskatchewan), Minot (North
Dakota) and Gillette (Wyoming) as well as a corporate and sales office located
in Calgary and a corporate sales office in Houston. Enseco is led by an
experienced management team offering directional drilling, well swabbing and
production testing services with a focus on continued value creation through
accretive acquisitions and organic growth.


FORWARD-LOOKING STATEMENTS

Certain information and statements contained in this press release constitute
forward-looking information. Specifically this press release contains
forward-looking statements relating to the closing date of the Offering, the
sale of the wireline assets and the Announced Acquisition, the underwriter's
intention to exercise the Underwriters' Option, the effect of the Focus
Acquisition and the Announced Acquisition on Enseco's business including
anticipated cost savings and other synergies, the use of proceeds of the
Offering and Enseco's ongoing focus and business plans. The forward-looking
statements contained in this press release speak only as of the date of this
press release and are expressly qualified by this cautionary statement. These
forward-looking statements are based on certain key assumptions regarding, among
other things, the benefits to be achieved from the Focus Acquisition and the
Announced Acquisition, the timing of closing of the sale of the wireline assets
and the Announced Acquisition, the satisfaction of closing conditions, including
receipt of regulatory approval, completion of the Offering and the completion of
satisfactory due diligence. Furthermore, these forward-looking statements are
subject to a variety of risks and uncertainties and other factors that could
cause actual events or outcomes to differ materially from those anticipated or
implied by such forward-looking statements. Such factors include, but are not
limited to general economic conditions in Canada and the United States, industry
conditions, changes in laws and regulations and changes in how they are
interpreted and enforced, increased competition, volatility of commodity prices,
and the inability satisfy the closing conditions, including receipt of
regulatory approval and the completion of the Offering. Readers are cautioned
that the assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be imprecise and,
as such, undue reliance should not be placed on forward-looking statements.
Enseco's actual results, performance or achievement could differ materially from
those expressed in, or implied by, these forward-looking statements, or if any
of them do so, what benefits that Enseco will derive therefrom. Enseco disclaims
any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.


NON-GAAP MEASURES

This press release refers to earnings before interest, taxes, depreciation and
amortization (EBITDA). EBITDA is a measure used by the Company that is not a
standard measure under Canadian generally accepted accounting principles
("GAAP"). The Company's method of calculating EBITDA may differ from methods
used by other issuers. Therefore, the Company's use of EBITDA may not be
comparable to similar measures presented by other issuers. EBITDA refers to net
earnings (loss) determined in accordance with GAAP, before depreciation and
amortization, net of gain or loss on disposal of capital assets, interest
expense and income tax expense. EBITDA is used by management of Enseco to
determine the ability of an issuer to generate cash from operations. Management
believes EBITDA is a useful supplemental measure from which to determine a
company's ability to generate cash available for debt service, working capital,
capital expenditures, income taxes and dividends.