EnQuest Announces Sale and Contract Expiration
September 09 2009 - 4:05PM
Marketwired Canada
ENQUEST ENERGY SERVICES CORP. ("EnQuest" or "the Corporation") (TSX VENTURE:ENQ)
- The Corporation announced today that the Board of Directors of EnQuest is
continuing to review its strategic alternatives for optimizing shareholder value
with the objectives of reducing corporate debt and focusing its resources on
areas of oil and gas activity in the USA.
In keeping with these objectives, a contract has been signed with Ritchie Bros.
Auctioneers (Canada) Ltd. to dispose of certain non-core assets at the Grande
Prairie, Alberta auction set for September 21 and 22, 2009. EnQuest will
continue to evaluate the sale of certain assets and/or operations on a case by
case basis. EnQuest cautions shareholders that no specific timetable has been
set as it relates to any dispositions. Any subsequent transactions may be
subject to regulatory and/or shareholder approval and there is no assurance that
the review conducted by the Board will result in any specific transactions being
completed.
The Company also announced that its financial advisory contract with Lightyear
Capital, Inc. has expired.
EnQuest has operations throughout the United States and Canada. The common
shares of EnQuest are listed on the TSX Venture Exchange and trade under the
symbol "ENQ".
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