Enhanced Oil Resources Inc. provides drilling update. Tests 6 mmcfpd from granite wash zone



    Listed: TSX Venture Exchange (Symbol: EOR)

    HOUSTON, March 4 /CNW/ - Enhanced Oil Resources Inc. (the "Company") is
pleased to provide the following drilling update to shareholders.
    Further to our last report to shareholders dated February 26th, 2008 the
Company has now completed testing of the Granite Wash/fractured basement
interval at the 10-2-30 well located within the Company's St Johns Helium and
CO(2) Field located in Apache County, Arizona and Catron County, New Mexico.
    As previously reported the Company had been testing the 10-2-30 well at a
stabilized rate of 3.1 million cubic feet per day of dry CO(2) gas, with no
water and a flowing tubing pressure that was consistently above 390 psi. The
production during the initial test period was restricted by the size of the
test unit and a larger test unit was brought in to determine if the well could
be produced at a higher rate. The well has now been tested at various
increasing rates and achieved a stabilized rate of 6 million cubic feet per
day (mmcfpd) with a flowing tubing pressure of 171 psi. The data achieved from
this latest test period indicates that the well could produce at even higher
rates if the flowing tubing pressure was further reduced. The Company will
model the test data to determine the optimal rate at which this well could be
produced.
    Following the drilling and casing of the 10-2-30 well the Forster rig was
then moved 50ft to drill the Amos Wash twin well (10-2-30 No.2) to test the
potential pay seen in the original well. That well is now at a depth of
1,150ft and is drilling towards the next casing point expected at 1,700ft.
    As also reported in our last update the Animas Rig 504 was re-drilling
the 12-34-29X well to evaluate the Amos Wash and Granite Wash intervals in the
northwest end of the field. The well has now been drilled to a depth of
2,150ft and casing has been run to the top of the Granite Wash reservoir. The
rig has now been switched over to air drilling and is currently drilling
towards a total depth of 2,217 ft to evaluate the Granite Wash and fractured
basement zones found productive elsewhere in the field. Electric logs run
through the Amos Wash interval have indicated net potential pay of 96ft (162ft
gross pay) and this is consistent with pay counts seen in offsetting wells.
    The Company also reports that the Patterson rig is on location at the
12-31-30 well and has reached the casing point of 2,091 ft at the top of the
Granite Wash interval. Following the completion of electric logs the well will
be cased at the top of the Granite Wash and the rig will be switched over to
air drilling to drill out and evaluate the Granite Wash and fractured basement
reservoirs.
    EOR Inc.'s President and CEO Mr. Barry Lasker reports "The Company is
very pleased with the latest results from the 10-2-30 Granite Wash well. The
increase in production, if repeatable, will have a profound effect on the
number of wells required to get the field to its initial planned pipeline
capacity of 350 mmcfpd and may lead to a substantial decrease on capital
required to develop the field. The results also confirm that we are on the
right track to improving the well performance by drilling with air and using a
bigger casing design than has previously been used in the field. My
congratulations go to our drilling team for a great result."

    Enhanced Oil Resources Inc. is an enhanced oil recovery (EOR) company
that controls approximately 235,000 acres of land within the St Johns
Helium/CO(2) field in Arizona and New Mexico where the Company is developing
the largest undeveloped resource of helium and carbon dioxide gases in North
America. Independent engineering firms have estimated that the St Johns field
contains a potential recoverable resource of 30 billion cubic feet of Helium
and 5 trillion cubic feet of CO(2). Development of the project could result in
the Company becoming one of North America's largest Helium and CO(2) suppliers
and EOR producers. The Company's strategic focus for CO(2) delivery and EOR
production is the Permian Basin where significant potential exists for
enhanced oil recovery from mature, depleted oil fields.

    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.enhancedoilres.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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