Bordeaux Energy Inc. TSX VENTURE : BDO

November 07, 2008 17:20 ET

Bordeaux Energy Inc. Proceeds With Name Change and Share Consolidation and Appoints New CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Bordeaux Energy Inc. (TSX VENTURE:BDO) (the "Company") announces that effective as of the opening of trading on Monday November 10, 2008, the Company will complete its name change to "Enterprise Energy Resources Ltd.", commence trading under the symbol "EER" and consolidate its common share capital on the basis of one post-consolidation common share for every thirty pre-consolidation common shares held.

The name change and share consolidation were approved by shareholders at the Company's Annual and Special Meeting on Thursday, August 28, 2008. Prior to the consolidation, the Company had 151,279,112 common shares outstanding, and the Company will have approximately 5,042,637 common shares outstanding post-consolidation. The consolidation has been accepted by the TSX Venture Exchange.

Letters of transmittal with respect to the consolidation were mailed out to all registered shareholders with the Annual and Special Meeting material. All registered shareholders of the Company will be required to send their certificates representing pre-consolidation common shares with a properly executed letter of transmittal to the Company's transfer agent, Equity Transfer & Trust Company in Toronto, Ontario ("Equity Transfer") (Shareholder Services 1-416-361-0152 or toll free 1-866-393-4891 or investor@equitytransfer.com). Additional copies of the letter of transmittal can be obtained through Equity Transfer. All shareholders who duly complete letters of transmittal and submitted their pre-consolidation common share certificates to Equity Transfer 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 down to the nearest whole number and no cash consideration will be paid in respect of fractional shares.

The Company is also pleased to announce the appointment of Danny Lee as Chief Financial Officer of the Company. Mr. Lee is a Chartered Accountant with over 10 years of experience in the resource sector, and he is the CFO of LNG Energy Ltd., an oil and gas exploration company with interests in Papua New Guinea. Previously, Mr. Lee served as CFO of Transeuro Energy Corp. which has operations in Papua New Guinea, Ukraine, Armenia and Canada. The Company also announces that Kathleen Butt has resigned as the Company's Chief Financial Officer. The Company thanks Ms. Butt for her contributions to the Company.

Forward-Looking Statements:

Certain statements contained in this press release are not based on historical facts and may constitute forward-looking statements or forward-looking information within the meaning of applicable law. These statements appear in a number of different places herein and can be identified by words such as "will", "anticipates", "expects", "intends", or other comparable words. Forward-looking statements and information include statements regarding the completion of the name change and share consolidation and other statements, and are subject to risk, uncertainties, and other factors, that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements or information. See the Company's filings with the Canadian securities commissions for additional information on risks and uncertainties relating to the forward-looking statements and information. Many of these factors are beyond the control of the Company. Consequently, all forward-looking statements and information made herein, are qualified by this cautionary statement. The Company disclaims any intention or obligation to revise or update such statements or information except as may be required by law.

This release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The Common Shares and the other securities referred to herein have not been registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States absent registration or an applicable exemption from registration.

BORDEAUX ENERGY INC.

Geoffrey Carrington, President & CEO

Shares Outstanding: 151,279,112

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.