Enseco Energy Services Corp. ("Enseco" or the "Company") (TSX VENTURE:ENS) is
pleased to announce that it has closed its previously announced acquisition of
the assets (the "Directional Drilling Assets") of a private directional services
company (the "Private Company") with operations primarily in the United States
(the "Acquisition"). The payment for the Directional Drilling Assets consisted
of aggregate consideration of approximately $7.8 million consisting of: (i) the
payment of approximately $4.0 million in cash to settle payments owing to
certain secured creditors of the Private Company; (ii) the issuance of a
one-year $3.0 million 12% convertible secured subordinated debenture with a
conversion price of $0.30 per share, and a one year extension at the option of
the Company, with each of the interest rate and conversion price being subject
to adjustment in certain circumstances, including an event of default, to settle
outstanding payments to a secured creditor of the Private Company; and (iii) the
issuance of 4.1 million common shares ("Common Shares") of Enseco, at a deemed
issue price of $0.20 per share, to settle additional payments owing to secured
creditors of the Private Company. The Common Shares and the debenture to be
issued pursuant to the Acquisition will be subject to a four-month hold period.


Corporate Strategy

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 currently offering directional drilling services,
well swabbing, production testing, with a focus on continued value creation
through accretive acquisitions and organic growth. The Company, while continuing
to optimise its existing business lines, will be aggressively expanding its key
businesses both organically and through strategic acquisitions domestically and
internationally. 


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 Enseco's business following the
Acquisition 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 Acquisition and prevailing
commodity prices. 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 to realize benefits from the Acquisition. 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.