Enterprise Acquires 50% of Chimney Sweep Oil and Gas in the Oil Producing Williston Basin of North Dakota

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Enterprise Energy Resources Ltd. (the "Company") (TSX VENTURE:EER) is pleased to
announce that its wholly owned subsidiary, EERL Energy Limited Partnership
("EERL"), has entered into an agreement (the "Investment Agreement") with
Chimney Sweep Oil and Gas (US) L.L.L.P. (the "Partnership" or "Chimney Sweep")
pursuant to which it has agreed to acquire a 50% interest in the Partnership
(the "Transaction").


The Partnership currently holds approximately 1,600 net acres of oil and gas
leases in North Dakota (southern Williston Basin) in an area which has produced
more than 85 million barrels of light oil from multiple zones. The area has
recently enjoyed some new oil discoveries due to advances in seismic technology
and a better understanding of the geology. Previous wells in the area, drilled
in the mid-1990's, have been highly prolific with some having initial production
rates up to almost 2,000 barrels of light oil per day and reserves of more than
4 million barrels of oil per well. One of the more recent discoveries, drilled
in 2009, produced at a sustained rate of 400 barrels of light oil per day, with
no water. The Partnership owns approximately 110 square km of 3-D seismic which
covers the majority of its acreage and the main play fairway from which most of
the light oil has been produced and plans to acquire additional acreage in the
area and drill one or more wells during 2011. This 3-D seismic was entirely
reprocessed by the Partnership in late 2010.


As consideration for its 50% interest in the Partnership, EERL will make an
investment equal to US$2,495,147 plus 50% of certain approved expenses of the
Partnership for the period from November 1, 2010 to the date of closing which is
expected to occur on or about February 28, 2011.


The Company currently has approximately CDN $1.7 million in working capital. As
a condition to the Transaction, a financing (the "Financing") must be completed
by the Company to raise not less than $5 million. Proceeds from the Financing
will be used to fund the investment by EERL in the Partnership and the planned
2011 work program.


The Transaction is subject to approval by the TSX Venture Exchange, the
completion of the Financing and other customary closing conditions.


ENTERPRISE ENERGY RESOURCES LTD. 

Geoffrey A. Carrington, President & CEO

Shares Outstanding: 5,040,116

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information
presented constitutes "forward looking statements". Such forward-looking
statements, including but not limited to those with respect to the closing of
the Transaction, as well as uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Although the Company has attempted
to identify important factors that could cause actual results to differ
materially, including the successful completion of the Financing and other
conditions precedent to the closing of the Transaction, there may be other
factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements.