Enterprise Announces Terms of Previously Announced Financing

(NOT FOR DISTRIBUTION TO THE 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 it has settled the terms of its previously announced private
placement financing. The Company has arranged a non-brokered private placement
of up to 16,666,666 units of the Company (the "Units") at a price of $0.30 per
Unit for gross proceeds of up to $5,000,000. Each Unit will consist of one
common share and one-half of one common share purchase warrant (each whole such
warrant, a "Warrant"). Each Warrant will entitle the holder to purchase an
additional common share at a price of $0.45 for a period of 24 months from the
closing date. 


Closing of the private placement is anticipated to occur on or before February
14, 2011 and is subject to regulatory approval. Securities issued under the
financing will be subject to a four month hold period beginning upon their
issuance.


The proceeds of the private placement will be used to fund the investment by the
Company's wholly owned subsidiary, EERL Energy Limited Partnership, in Chimney
Sweep Oil and Gas (US) L.L.L.P.


Separately, the Company advises that it has been named as one of more than 30
defendants in a legal proceeding initiated in Ontario by Teskey Construction Co.
Ltd. and others. The legal proceeding relates to an explosion at a propane
facility in Toronto in 2008. The claim alleges that Ontario Hose Specialities
Ltd. ("OHSL") manufactured certain hoses used in the propane facility, and that
the Company may be a successor to OHSL. Until 2006 OHSL was the operating
subsidiary of the Company and in 2006 the Company disposed of all of the shares
of OHSL. The Company believes the claim against the Company is without merit and
as the Company is not a successor to OHSL, it appears that the wrong defendant
has been named. The Company is reviewing the steps available to have itself
removed as soon as possible as a defendant in the claim.


ENTERPRISE ENERGY RESOURCES LTD. 

Geoff Carrington, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release constitute "forward-looking
statements". Such forward-looking statements include, without limitation,
statements evaluating the proposed financing and statements reflecting our
expectation in terms of the results of the litigation. There can be no assurance
that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Company's expectations include operational risks, the effects of general
economic conditions, changing foreign exchange rates and actions by government
authorities, uncertainties associated with legal proceedings. The Company's
forward-looking statements reflect the beliefs, opinions and projections on the
date the statements are made. The Company assumes no obligation to update
forward-looking information should circumstances or management's estimates or
opinions change, except as required by law.


Shares Outstanding: 5,040,116