Enhanced Oil Resources Inc. Signs Multi-Well Contract With Forster Drilling Corporation



    Listed: TSX Venture Exchange (Symbol: EOR)

    HOUSTON, Nov. 29 /CNW/ - Enhanced Oil Resources Inc. (the "Company")
today announced that it has entered into a multi-well contract with Forster
Drilling Corp. to drill an additional 10 wells in the Company's St. Johns
Helium/CO2 field located in Apache County, Arizona and Catron County, New
Mexico.
    The drilling of these additional wells will focus on finalizing reserves
quantification and production characteristics at St. Johns and will enable the
Company to proceed with detailed discussions with pipeline operators and third
party gas purchasers. This well program is an extension to the earlier
drilling program that focused on proving up additional flank production and
lease protection.
    It is anticipated that the Forster rig will be on location around the
middle of December, 2007. The Forster drilling program will be operated under
the direction of the Company's newly hired drilling team and will focus on
drilling information gained earlier this year.

    Enhanced Oil Resources Inc. is a development stage, enhanced oil recovery
(EOR), company that controls approximately 235,000 acres of land within the
St. Johns Helium/CO2 field in Arizona and New Mexico where the Company is
developing what is thought to be the largest undeveloped resource of helium
and carbon dioxide gases in North America. Independent engineering firms have
estimated that the St. Johns field contains approximately 15 trillion cubic
feet of in place resources, with a potential recoverable resource of 5
trillion cubic feet. Development of the project could result in the Company
becoming one of North America's largest CO2 suppliers and EOR producers. The
Company's strategic focus for CO2 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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