EnQuest Energy Services Corp. Releases Annual 2008 Financial Statements

ENQUEST ENERGY SERVICES CORP. ("EnQuest" or the "Company") (TSX VENTURE:ENQ) -
EnQuest announces the filing of its audited financial statements and management
discussion and analysis for the year ended December 31, 2008 today. All figures
are stated in USDs. Please refer to the Company's consolidated financial
statements and MD&A for further information as listed on www.sedar.com.


EnQuest's CEO David Murray stated: "The fiscal year brought many challenges with
changes to the global economy, tightening credit markets, dymanic fluctuations
in the commodity markets and with the acquisition of Sikanni Services Ltd. The
Company has embarked upon an aggressive cost reduction program to achieve
profitability in the Company." 


EnQuest is subject to a cease trade order by each of the Alberta and Ontario
Securities Commissions as well as a trading halt by the TSX Venture Exchange for
failure to file its annual financial statements and management discussion and
analysis. Having filed the outstanding documentation, EnQuest will now apply for
a revocation of the cease trade orders and reinstatement of trading.


EnQuest intends to undertake a corporate reorganization in the next week,
whereby the assets of several Canadian subsidiaries, including Twilight Oilfield
Hauling Inc. and Irontree Transportation Corp. and the operating assets of
EnQuest shall be transferred to a new wholly-owned subsidiary of EnQuest.
EnQuest will be the owner of the assets of Northwell Oilfield Services Corp.
None of the assets of EnQuest or its subsidiaries will be transferred to a party
that is not a subsidiary of EnQuest.


EnQuest provides energy services throughout North America in the following
primary business segments: transportation services, rig moving, crane services,
specialized heavy hauling, oilfield equipment rentals, retailer of new and
refurbished Oil Country Tubular Goods, and pipe storage.


EnQuest provides services from Alaska to the Gulf of Mexico, with strategic
locations in Alberta, Montana, Colorado, New Mexico, California, Texas,
Arkansas, and Wyoming.


Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. The
Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.