St. Albert, Alberta — (Newsfile Corp. – March 9, 2023) – Enterprise Group, Inc. (TSX: E and OTCQB: ETOLF) (the “Company” or “Enterprise“).

Enterprise Shareholders and Interested Investors;

It was a good year for Enterprise and our shareholders. Over one year, the Company’s share price rose 40 plus percent, from 26 to 46 cents, a new high. For comparison, S&P lost 19.4%, the Nasdaq gained 8.7%, and the Dow was down almost 9%.

FY2022 earnings will be released once the year-end audit is complete.

For the latest management thoughts, click on Enterprise’s Youtube channel.

The Corporate presentation is here.

On March 1, 2023, the oil and gas sector will reach CDN$ 40 billion, an 11% increase over 2022. A Bank of Montreal report states; Alberta’s share of investment is expected to be $28 billion this year, representing approximately 70 percent of Canada’s total. CAPP says that investment growth is mainly driven by conventional and oil sands sectors.

“A report issued by BMO Capital markets showed Canadian oil and natural gas producers have invested an average of $1.2 billion annually since 2012 into research and development, much of that focused on reducing emissions,” it said. “The report estimates in 2022 that investment rose to $1.4 billion and could exceed $2 billion by 2025.”

CAPP contends Canada’s upstream oil and natural gas industry is the largest investor in environmental protection, providing $3 billion annually toward initiatives such as biodiversity habitat protection, air quality management and water protection.

“The year 2023 may be one of the most pivotal moments in time for Canada’s oil and natural gas industry,” Baiton said. “With an emerging liquefied natural gas export industry, the expected completion of the Trans Mountain pipeline expansion and billions of dollars in emissions reduction investments waiting to be unlocked, Canada is positioned to play a much larger role in providing responsibly produced energy resources to the world.”

Salient 2022 Developments

  • Enterprise also moved into 2023 with an up-listing to the US OTCQB, which gives the massive American investor market direct trade investment to our shares.
  • Enterprise also secured several new clients in 2022, including several Tier One names.
  • The reality of energy production growth represents several things. First, we will still need a growing supply of fossil fuels globally as Green Tech develops.
  • Second, resource companies and suppliers such as Enterprise Group will need to continue, with its peers, to create the most benign (and ever more relevant) GHG mitigation production technologies and processes.
  • Oil and Gas CAPEX spending growth over the following years also bodes exceptionally well for the oil and gas service sector. From resource technology company Schlumberger:

It is essential to paint the backdrop in the oil and Gas sector to fully understand the compelling potential for Enterprise and our shareholders: both internationally and locally, especially in the area of the Blueberry First Nations detailed below.

Global Picture: Growth in Production and Capex in the Resource sector;

“Looking ahead, we believe the macro backdrop and market fundamentals underpin a strong multi-year upcycle for energy and remain very compelling in oil and gas and low-carbon energy resources. First, oil and gas demand is forecast by the International Energy Agency (IEA) to grow by 1.9 million barrels per day in 2023 despite concerns about a potential economic slowdown in certain regions. (Schlumberger Q4 2022 Worldwide Update on O&G Activity).

In parallel, markets remain very tightly supplied. Second, energy security is prompting a sense of urgency to make further investments to ensure capacity expansion and diversity of supply. And third, the secular trends of digital and decarbonization are set to accelerate with significant digital technology advancements, good government policy support, and increased spending on low-carbon initiatives and resources. “

“The oil and gas CAPEX market size was around USD 502 billion in 2020, and it is anticipated to reach around USD 942 billion in 2027, registering a CAGR of around 8.1% during the forecast period 2022-2027…Hence, to meet the strong global demand for crude oil and natural gas, more investment is required for exploration and production activities, which in turn promulgates the CAPEX in the oil and gas industry. (

While many industry forecasts on Capex, oil price etc., are purported with the international markets in mind, that will also translate into significant growth in the Canadian market.

Canadian Natural Resources Ltd, ConocoPhillips, EQT Corp, EOG Resources Inc, and Antero Resources Corp are the top 5 oil & gas exploration & production companies in North America in 2021 by reserves. In aggregate, the top 10 oil & gas exploration & production companies had reserves of 36,506 million barrels of oil equivalent (MMboe),

Enterprise’s subsidiary Evolution Power Projects is reinventing how mobile power is provided on-site. This approach is in the interest of developing efficiencies, streamlining rental management, supporting critical services, and promoting natural gas alternatives. Our ‘Concept to Completion Approach’ assists our customers in evaluating their overall power demand and offers innovative, low-carbon, environmentally responsible options.

Our base case is that the market begins to tighten as the Chinese demand returns during the first half of this year. And as we move towards the middle of the year, we expect OPEC to start to bring some of that production capacity back online to accommodate the more robust demand growth. But the key difference here is that they are not confronted with competition if they don’t return it online.

If you went back five years ago, ten years ago, if they cut production and prices went up significantly, another producer could bring on that supply and undercut their market share. Due to the underinvestment across the industry, that capability is severely limited in the current environment.” (Jeffrey Currie, Global Head, Commodities Research, Goldman Sachs Research)

“Based on these factors, global upstream spending projections continue to trend positively. Activity growth is expected to be broad-based, marked by an acceleration in international basins. Higher service pricing and tighter service sector capacity will amplify these positive activity dynamics. The impact of loosening COVID-19 restrictions and an earlier than expected reopening of China could support further upside potential over 2023.” (Schlumberger)

As noted initially, the growth in oil and gas exploration, demand and production will remain the same. The myriad uses in fuel and manufacturing—coupled with a significant increase in future CAPEX– bodes well for the sector.

And particularly companies such as Enterprise, noted by the slightly larger Oil services company, Schlumberger.




Significant Local Business Opportunities: Blueberry First Nations

The BC government breached the Treaty Rights of the Blueberry River First Nations, says a new provincial court ruling that could have sweeping implications for oil, gas, forestry and hydroelectric development in the northeastern part of the province.” (The Narwhal)

In 2015 Blueberry First Nations filed a court action against the BC Government. After some failures, the indigenous group was successful with a June 29, 2021, judgement.

“The justice ruled that the province must stop authorizing activities that breach the promises included in the Treaty but noted she’s (the Judge) prepared to suspend this declaration for six months “while the parties expeditiously negotiate changes to the regulatory regime that recognize and respect Treaty 8 Rights.” (The Narwhal)

“As part of the agreement, 195 forestry and oil and gas projects, authorized prior to the court decision and where activities have not yet started, will proceed. Twenty approved authorizations related to development activities in areas of high cultural importance will not proceed without further negotiation and agreement from Blueberry. The Province has provided notification to the respective permit holders.” (BC Government)

Judgement Results.

  • The Treaty 8 Nations in BC are Blueberry River, Doig River, Fort Nelson, Halfway River, McLeod Lake, Prophet River, Saulteau and West Moberly First Nations. Blueberry River entered into the treaty in 1900.
  • The Province is reimbursing Blueberry’s legal costs and disbursements.
  • Lorne Brownsey has been appointed as the Province’s lead negotiator, and Bob Chamberlin as a special adviser to support the involvement of other Treaty 8 Nations, local governments and industry. Ratcliff LLP, as legal counsel, is assisting Blueberry River First Nations in the negotiations.

Here is the text of the complete Supreme Court of BC judgement.

This decision has been characterized as analogous to the Yukon Gold Rush. While likely overstated, the potential for oil and gas production is immense.

Deep Gas Stats

  • To date, about 607 billion cubic metres (21.6 trillion cubic feet [Tcf]) of marketable natural gas remain to be discovered.
  • BC’s foothills and more profound plays allow for substantial further gas reserves.
  • Up to 23.1 million cubic metres (145 million barrels) of recoverable oil either remain undiscovered or will be recovered using improved recovery techniques.
  • The productiveness of a primary undeveloped resource (estimated to be a total of 60 Tcf) in the Northeast is being evaluated by several producers. (Market Herald)

With a stellar reputation, personal relationships with virtually all the resource companies in Western Canada and a stated plan to work with clients to reduce and eventually eliminate GHG emissions, Enterprise is in an excellent and virtually peerless position to benefit from The Blueberry/BC.

As we have seen, service companies such as Enterprise tend to benefit as the oil and gas resource sector improves. Improvement is underway. Enterprise’s 18 years of experience in the area puts it in a unique position to get the first call from customers, both new and repeat.







Enterprise subsidiary companies:

Hart Oilfield Rentals  One-Stop Site Infrastructure Services servicing Alberta

Westar Oilfield Rentals  One-Stop Site Infrastructure Services servicing NE British Columbia

Artic Therm Int’l  Flameless Heat/Clean Breathable air

Evolution Power Projects  Designing Micro Power Grids Fueled by Natural Gas

When our shareholders and investors dive into our advances, they will note the following;

  1. Enterprise’s client base constantly grows, including several Tier Onecompanies added in 2022.
  2. Uninterrupted annual Cash Flow; a portion used to buyback market shares
  3. Response to Evolution Power Projects exceeded corporate expectations.
  4. Offer clients technologies to increase GHG reduction.
  5. Blueberry First Nations opens a vast opportunity to add significant business.

In conclusion, I sincerely thank our shareholders and hope to welcome many new investors in 2023. Your management will work tirelessly to earn your faith in Enterprise Group.

About Enterprise Group, Inc.

Enterprise Group, Inc consolidates services, including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company’s website, Corporate filings can be found on

For questions or additional information, please contact:

Leonard Jaroszuk: President & CEO, or

Desmond O’Kell: Senior Vice-President


Forward-Looking Information

This news release may contain certain forward-looking information, as defined under applicable Canadian securities legislation, that is not based on historical fact, including without limitation statements containing the words “believes,” “anticipates,” “plans,” “intends,” “will,” “should,” “expects,” “continue,” “estimate,” “forecasts” and other similar expressions. In particular, this news release includes forward-looking information relating to the Company’s intention to purchase Shares pursuant to the normal course issuer bid, the number of Shares to be purchased, the timing of such purchases and the impact of such purchases on the value of the remaining Shares. Actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. There is no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors, including those discussed in the Company’s Annual Information Form and most recent MD&A, which are incorporated herein by reference and are available through SEDAR at The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.