Enhanced Oil Resources announces private placement



    Listed: TSX Venture Exchange (Symbol: EOR)

    HOUSTON, June 28 /CNW/ - Enhanced Oil Resources Inc. (the "Company") is
pleased to announce that it has engaged Union Securities Ltd. (the "Agent") as
agent in connection with a private placement of up to $15,000,000 (CDN)
comprised of Units (12,096,774 Units) at $1.24 per Unit (the "Offering"). Each
Unit is comprised of 1 common share and one-half of one non-transferable
common share purchase warrant, each whole warrant entitling the holder to
purchase an additional common share at $1.80 per Warrant for a period of
24 months from Closing. The Company also proposes to grant the Agent the
option (the "Over-Allotment Option") to purchase up to $5,000,000 (CDN) in
additional Units.
    The Agent with regard to its services is entitled to receive (a) a
non-refundable work fee of CDN$15,000 plus a cash commission equal to 8% of
the aggregate gross proceeds of the Units sold pursuant to the Offering and
the Over-Allotment Option including in respect of any Units purchased by the
Agent as principal; and (b) Agent's Compensation Options equal to 10% of the
aggregate number of Units sold pursuant to the Offering and the Over-Allotment
Option, where each Agent's Compensation Option entitles the Agent to purchase
one Unit of the Company at $1.24 (CDN) per Unit for a period of 24 months from
the applicable Closing Date.
    The first tranche (2,391,000 Units) of the Offering closed in Toronto on
June 28, 2007.

    ON BEHALF OF THE BOARD OF DIRECTORS

    "signed"
    Barry D Lasker, CEO

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    %SEDAR: 00004538E




For further information:

For further information: visit our Website at www.ridgewaypetroleum.com,
or Retail Investors please call Don Currie on 1-888-990-3551

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Enhanced Oil Resources Inc.

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