Enterprise Oil to price C$10 million private placement

By Sheri Kasprzak

New York, Feb. 28 - Enterprise Oil Ltd. said it intends to raise up to C$10 million in a private placement.

The offering will include units of one share and one half-share warrant with each whole warrant exercisable for one year.

The pricing terms of the units have not been determined.

Paradigm Capital Inc. is the placement agent.

Proceeds will be used for the company's acquisition of a directional boring company and for general corporate purposes.

Based in St. Albert, Alta., Enterprise is an oil and natural gas pipeline construction company.

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