Stock Profile: Enserco Energy Service formerly Bonus Resource Services Symbol: ERC (TSE)

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Stats as of 5/11/01

• H/L Ratio: 1.81 • RS: 84.0 • Shares: 104,111,424 • P/E: 12.05 • Price: $4.70

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In 1994 Enserco's predecessor, Bonus Resource Services, entered the oilfield services business to consolidate a fragmented industry and offer superior service in doing so. The company has grown steadily since and today is the second largest service rig company in Western Canada with a fleet of over 200 rigs.

It is also the fourth largest drilling company with 26 drill rigs after merging with Tetonka Drilling (now H&R Drilling) in November 2000. And the company has a third line of oil service related business with Abandonrite Enviro Services, an abandonment consultency. Bonus also maintains a small operation in Australia.

With the oil business in a boom phase, Bonus announced on May 8, 2001 that it plans to increase capital spending for the year to $75 million. The expansion is to be financed primarily out of cash flow with the possibility of some limited debt. Two rigs under construction and three more planned as of mid-May will bring its drilling fleet up to 31. Also in the works, a coil tubing unit and two swab rigs.

A record first quarter of 2001 saw a substantial increase in revenues and profits as the company continues to forge ahead.

On May 15, 2001, shares were consolidated on a one for four basis and the company was renamed Enserco Energy Service.

Quarterly Earnings per Share

Annual Earnings per Share