Enseco Energy Services Corp. Announces Entering Into A Forbearance Agreement

CALGARY, ALBERTA -- (Marketwired) -- 05/01/15 -- ENSECO ENERGY SERVICES CORP (TSX VENTURE: ENS) ("Enseco" or the "Company") announces that it has entered into a Forbearance Agreement (the "Agreement") with its lender pursuant to which, among other things, the Company's lender has agreed to forbear from taking steps to demand repayment of the amounts owing under the credit agreements between the Company and the Lender to enable the Company to obtain alternate financing on or before until May 31, 2015. Such date could be extended by the Lender at its discretion. Enseco is actively pursuing other financing and expects to satisfy its Lender's time requirements.

A copy of the Forbearance Agreement has been filed and is available under the Company's profile on www.sedar.com.

Enseco is a premier supplier of directional drilling, production testing and frac flowback services operating throughout the Western Canadian Sedimentary Basin and select markets in the United States. The corporate office is located in Calgary and sales offices are located in both Calgary and Denver. Enseco is led by an experienced management team with a focus on continued value creation through accretive acquisitions and organic growth.

Forward Looking Statements

This press release contains forward looking statements. These statements relate to future events or the Company's future performance. All information and statements contained herein that are not clearly historical in nature constitute forward looking statements, and the words "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "propose", "predict", "potential", "continue", or the negative of these terms or other comparable terminology are generally intended to identify forward looking statements. These statements involve known or unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Undue reliance should not be placed on these forward looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. In particular, this press release contains forward-looking statements relating, to potential extension of the forbearance period and the Company's plans to seek alternative financing.

Management has included forward-looking information in this press release in order to provide security holders with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes. These forward-looking statements are based on certain assumptions and are subject to a number of risks including the risk that the Company's lender's do not extend the forbearance period and demand repayment of all indebtedness owing under the credit agreements or seek to realize on its security and that the Company is unable to successfully complete its refinancing efforts. Investors are cautioned that such information, although considered reasonable by the Company, may prove to be incorrect.

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 Enseco will derive therefrom.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Enseco Energy Services Corp.
Kent Devlin
CEO
403-806-0088
[email protected]

Enseco Energy Services Corp.
Blair Layton
CFO
403-806-0088
[email protected]

Source: Enseco Energy Services Corp.

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