Enseco Energy Services Corp. Announces Effective Date for Previously Announced Share Consolidation, Operational Update and Op...

Enseco Energy Services Corp. ("Enseco" or the "Company") (TSX VENTURE:ENS) is
pleased to announce that the previously announced consolidation (the
"Consolidation") of the Company's issued and outstanding common shares, on the
basis of ten (10) pre-consolidated shares for one (1) post-consolidated share,
as more particularly described in the Company's information circular - proxy
statement dated April 4, 2011, will be effective as of the opening of trading on
October 20, 2011. The Consolidation was approved by the Company's shareholders
on May 9, 2011 and has been accepted by the TSX Venture Exchange. Enseco will
not be changing its name in conjunction with the Consolidation and the Company's
shares will continue to trade under the symbol "ENS" on a post-consolidation
basis under the new CUSIP 29358F707/ISIN CA29358F7074. 


Enseco believes that the Consolidation will benefit the Company on a go forward
basis by: (i) generating greater investor interest, (ii) increasing liquidity
for shareholders, and (iii) enabling the Company to be better able to respond to
the demands of the capital markets. The Company currently has 196,519,433 common
shares outstanding, which after giving effect to the proposed consolidation,
would result in the Company having approximately 19,651,987 (after giving effect
to rounding for fractional entitlements) common shares outstanding.  


Letters of transmittal with respect to the Consolidation will be mailed to all
registered shareholders on or about October 20, 2011. All registered
shareholders of the Company will be required to send their certificates
representing their pre-Consolidation common shares with a properly executed
letter of transmittal to the Company's transfer agent, Olympia Trust Company
("Olympia") in Calgary, Alberta (Corporate Actions, Suite 2300, 125 - 9th Avenue
S.E., Calgary, Alberta, T2G 0P6. Additional copies of the letter of transmittal
can be obtained through Olympia at the above-noted address or Toll Free
1-888-353-3138 or by email to [e-mail]. All
shareholders who duly complete letters of transmittal and submit their
pre-Consolidation common share certificates through Olympia will receive
post-Consolidation common share certificates. No certificates representing
fractional post-Consolidation common shares will be issued pursuant to the
Consolidation. All fractional shares resulting from the Consolidation will be
rounded up to the nearest whole number and no cash consideration will be paid in
respect of fractional shares.  


Operational Update 

Enseco has recently focused its business into horizontal oil plays by divesting
of its non-core business lines and expanding its Directional Drilling and
Production Testing Frac Flowback business units in Western Canada, North Dakota
and the USA Rocky Mountain regions. High demand for its services in these areas
have the Company well placed for continued growth and profitability.  


Enseco is pleased to announce it has experienced new milestones in revenues and
EBITDAS throughout the quarter. US revenues have increased by over 60% to
approximately $6.4 million from the same quarterly period in the prior year of
$4.0 million.  


Enseco experienced record revenues in August and then again in September
averaging $8.0 million in each month, an increase of 50% over the same months in
the prior year which averaged $5.3 million in revenue. 


Additionally, improved performance in MWD operations have significantly reduced
the downtime for tools and the need for MWD rental kits. Operational efficiency
between February 2011 and September 2011 has improved over 80%.


Option Grants and Correction of September 29, 2011 Press Release 

The Company would like to issue a correction to the press release dated
September 29, 2011. The stock option grant announced in that press release was
premature and no stock options were granted at that time.  


Enseco announces that its Board of Directors has approved the grant of an
aggregate of 690,000 stock options (on a post-Consolidation basis) to various
officers, employees and consultants of the Company. The options will have an
exercise price equal to the closing market price, on a post-Consolidation basis,
of the Company's common shares on October 19, 2011, being the closing market
price, on a post-Consolidation basis, of the common shares immediately prior to
the Consolidation. The options will vest at the rate of one third per year
commencing on the grant date and will expire five years thereafter. Executive
officers of the Company will receive an aggregate of 140,000 (on a
post-Consolidation basis) of the options granted. 


ABOUT ENSECO ENERGY SERVICES CORP. 

Enseco is a premier supplier of directional drilling and production testing
services operating throughout the Western Canadian Sedimentary Basin and select
markets in the United States, with operations in the Bakken, Cardium, Viking,
Montney and Green River resource plays as well as a corporate and sales office
located in Calgary. Enseco is led by an experienced management team with a focus
on continued value creation through accretive acquisitions and organic growth. 


Lane Roberts, President and CEO 

Blair Layton, CFO

FORWARD-LOOKING STATEMENTS 

Certain information and statements contained in this press release constitute
forward-looking information, including, but not limited to statements
concerning: the benefits of the Consolidation, the effective date thereof, the
grant of the Options and the exercise price therefor. Although management of the
Company believes that the expectations reflected in such forward looking
statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. Accordingly, readers should not place undue reliance
upon any of the forward-looking information set out in this press release.
Readers should review the cautionary statement respecting forward-looking
information that appears below. All of the forward looking statements of the
Company contained in this press release are expressly qualified, in their
entirety, by this cautionary statement. 


Forward-looking statements are based upon the opinions, expectations and
estimates of management as 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 outcomes to differ materially from those anticipated or implied
by such forward-looking statements. These factors include, but are not limited
to, such things as a failure to obtain required regulatory approvals,
fluctuations in prevailing commodity prices or currency and interest rates, the
competitive environment to which the various business divisions are, or may be,
exposed in all aspects of their business, the ability of the Company's various
business divisions to access equipment (including parts) and new technologies
and to maintain relationships with key suppliers, inherent risks associated with
the conduct of the businesses in which the Company's business divisions operate.
The various risks to which Enseco is exposed are described in additional detail
in the Company's Annual Information Form under the heading "Risk Factors" which
is available on SEDAR at www.sedar.com. 


With respect to forward-looking statements contained in this press release,
Enseco has made assumptions regarding commodity prices and royalty regimes,
availability of skilled labour, timing and amount of capital expenditures,
future foreign exchange rates, interest rates, the impact of increasing
competition, conditions in general economic and financial markets, effects of
regulation by governmental agencies, and future operating costs. 


Management has included the above summary of assumptions and risks related to
forward-looking information provided in this press release in order to provide
shareholders with a more complete perspective on Enseco's future operations and
such information may not be appropriate for other purposes. Enseco's actual
results, performance or achievement could differ materially from those expressed
in, or implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what benefits that
the Enseco will derive there from. Readers are cautioned that the foregoing
lists of factors are not exhaustive. These forward-looking statements are made
as of the date of in this press release and Enseco disclaims any obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or results or otherwise, other than as required by
applicable securities laws. 


Non-IFRS Measure 

EBITDAS means earnings before interest, taxes, depreciation and amortization,
and stock-based compensation and is equal to earnings before income taxes from
continuing operations plus interest on debt, other charges and interest expense,
depreciation and amortization, stock-based compensation, unrealized foreign
exchange loss, and loss on sale of equipment. EBITDAS is in not a recognized
measure under IFRS. Management believes that in addition to net losses, EBITDAS
is a useful supplemental measure as it provides an indication of the results
generated by the Company's primary business activities prior to consideration of
how those activities are financed, amortized or how the results are taxed in
various jurisdictions as well as the cash generated by the Company's primary
business activities. Readers should be cautioned, however, that EBITDAS should
not be construed as an alternative to net losses determined in accordance with
IFRS as an indicator of Enseco's performance. Enseco's method of calculating
EBITDAS may differ from other organizations and, accordingly, EBITDAS may not be
comparable to measures used by other organizations