Enterprise Announces Closing of First Tranche of Private Placement

Enterprise Energy Resources Ltd. (the "Company") (TSX VENTURE:EER) - 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Enterprise Energy Resources Ltd. is pleased to announce that it closed the first
tranche of its previously announced non-brokered private placement (the
"Financing"). The first tranche consisted of the sale of 17,270,014 units (the
"Units") at a price of $0.60 resulting in gross proceeds to the Company of
$10,362,010. The TSX Venture Exchange has conditionally approved the closing of
the Financing, subject to filing of the final documents.


Each Unit consists of one common share and one-half of one common share purchase
warrant. Each whole warrant entitles the holder to purchase an additional common
share at a price of $0.80 for a period of six months from closing and thereafter
at a price of $1.00 for an additional six months.


Securities issued under the Financing will be subject to a four month hold
period beginning upon their issuance. Next week the Company expects to close the
second tranche of the Financing raising up to an additional $500,000. The
Company expects the previously announced acquisition of Cerda Capital
Corporation will also close next week.


ENTERPRISE ENERGY RESOURCES LTD. 

This press release does not constitute an offer to purchase securities. The
securities to be offered in the offering have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold in the United States or to,
or for the benefit or account of, a U.S. person, except pursuant to an available
exemption from such registration requirements.


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 second
tranche of the Financing, the closing of the Cerda Capital Corporation
acquisition, 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, 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.


Shares Outstanding: 38,976,796