MRO Millrock Resources Inc

ENTREC Corporation ("ENTREC" or the "Company") (TSX VENTURE:ENT), a leading
provider of heavy lift and heavy haul services, today approved a $46 million
capital expenditure program for 2014. The program consists of growth capital
expenditures of $34 million and $12 million in maintenance capital expenditures.
ENTREC is also pleased to announce the appointment of Mr. John M. Stevens as its
President and CEO. Mr. Stevens previously served as President and COO and will
now replace Rod Marlin as CEO who has transitioned to the role of Executive
Chairman.


"This is a very natural transition for ENTREC," said Rod Marlin, ENTREC's
Executive Chairman. "In John's previous role, he led our Company through a
transformational period of growth and is well deserving of his new
responsibilities as Chief Executive to take our Company to the next level."


2014 Capital Expenditure Program

"Our 2014 growth capital expenditures will be specifically focused on growing
our mobile crane capabilities," said Mr. Stevens. "We believe continued
investment in this area will increase our access to the recurring onsite
maintenance, repair and operation ("MRO") support work in the Alberta oil sands
region, as well as to the significant industrial construction work occurring in
both the oil sands and in Northwest BC. 


ENTREC's 2014 capital expenditure program consists of the following components: 



Growth capital expenditures - cranes                         $    27 million
Growth capital expenditures - heavy haul transportation            5 million
Other growth capital expenditures                                  2 million
Maintenance capital expenditures                                  12 million
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Total                                                             46 million



Included in ENTREC's 2014 growth capital expenditures are the purchase of $6.5
million of crane rental units. These units carry favourable purchase options,
which allow the Company to apply much of its previous rental payments against
the purchase price. ENTREC's maintenance capital expenditures reflect its
capital maintenance program. The program is designed to keep the Company's fleet
efficient and profitable by replacing an equipment item when it becomes
cost-prohibitive to operate due to high maintenance and operating costs.


ENTREC intends to fund its 2014 capital expenditure program from its credit
facilities, finance leases and cash from operating activities. The Company also
expects to have the flexibility to increase its capital expenditure program
throughout 2014 should customer demand warrant. The Company does not believe it
will need to raise any additional equity to fund its 2014 capital expenditure
program. 


2013 Capital Expenditures

During the year ended December 31, 2013, ENTREC expects to report capital
expenditures of approximately $59 million (subject to final year-end
adjustments), consisting of $53 million in growth capital expenditures and $6
million in maintenance capital expenditures. Crane equipment purchases accounted
for approximately $36 million of the capital expenditures, with the remainder
directed to tractors and heavy haul trailers, as well as to other support
equipment. At December 31, 2013, ENTREC's total net debt was approximately $131
million (subject to final year-end adjustments). 


2014 Revenue Guidance

Based on current expectations for future business activity, and assuming no
business acquisitions are completed, ENTREC estimates revenue for the year
ending December 31, 2014 could range between $250 and $270 million. This
compares to estimated revenue of approximately $213 million for the year ended
December 31, 2013. ENTREC expects revenue levels to trend upward throughout 2014
as project work begins to ramp up and utilization levels increase. Any business
acquisitions completed in fiscal 2014 could increase this revenue estimate.
ENTREC's 2013 revenue results remain subject to final year-end billing and
accounting adjustments, and as a result, may be different from current
expectations. 


"Our outlook for 2014 and 2015 remains very positive," said Mr. Stevens.
"Despite the lower demand levels we have seen in recent months, quoting activity
in our key markets continues to be strong for work commencing in 2014." 


ENTREC estimates its overall adjusted EBITDA margin for fiscal 2014 could
approximate 25%. Consistent with the upward trend in revenue, ENTREC believes
its adjusted EBITDA margin will also increase as the year progresses. 


Oil sands demand is expected to ramp up beginning in the first quarter of 2014
and continue to gain momentum as the year progresses. Large heavy haul
transportation contracts awarded to ENTREC in the first half of 2013 should
commence in the first and second quarters of 2014 and continue through 2017. In
addition, ENTREC is working with oil sands customers on several large crane and
heavy haul transportation projects that will commence at different times
throughout the 2014 year. Certain of these projects will extend through to 2017.



Consistent with its strategy, ENTREC is also successfully expanding the amount
of long-term maintenance, repair and operation (MRO) contract work it performs
in the Alberta oil sands region. ENTREC was recently awarded a 5-year MRO
contract with an oil sands customer, which commenced in December 2013 and could
generate up to $15 million in annual revenue. 


Northwest B.C. continues to be a busy area for ENTREC. The Company is currently
working on various mining, hydro-electric, pipeline, and oil and natural gas
projects in the region and is providing crane and transportation services to
support a multi-billion-dollar revitalization of an aluminum smelter in Kitimat,
B.C. ENTREC will continue to expand its service capabilities in this important
region throughout 2014 in preparation for the planned development of LNG
facilities and is currently in the process of expanding its operations into
Prince Rupert, B.C. These projects, along with ancillary infrastructure
developments, are expected to require extensive crane and heavy haul
transportation services. 


With the acquisition of GT's Crane and Transportation Services Inc. in 2013,
ENTREC now has a leading market position in northeast B.C. and northwest
Alberta. ENTREC believes this will be a busy area for the Company in 2014 as it
supports oil and natural gas projects in the region. The Company has also
recently expanded its operations into Fort St. John, B.C. to better serve
customers in this region.


About ENTREC

ENTREC is a leading provider of heavy lift and heavy haul services with
offerings encompassing crane services, heavy haul transportation, engineering,
logistics and support. ENTREC provides these services to the oil and natural
gas, construction, petrochemical, mining and power generation industries.
ENTREC's common shares trade on the TSX Venture Exchange under the trading
symbol "ENT". 


Non-IFRS Financial Measures

Adjusted EBITDA is defined as earnings before interest, income taxes,
depreciation, amortization, loss (gain) on disposal of property, plant and
equipment, change in fair value of embedded derivative, share-based
compensation, and non-recurring business acquisition and integration costs. In
addition to net income, adjusted EBITDA is a useful measure as it provides an
indication of the financial results generated by ENTREC's principal business
activities prior to consideration of how these activities are financed or how
the results are taxed in various jurisdictions and before certain non-cash
expenses. Adjusted EBITDA also illustrates what ENTREC's EBITDA is, excluding
the effect of non-recurring business acquisition and integration costs. Adjusted
EBITDA margin is calculated as adjusted EBITDA divided by revenue. 


Forward-looking Statements

This press release contains forward-looking statements which reflect ENTREC's
current beliefs and are based on information currently available to ENTREC.
These statements require ENTREC to make assumptions it believes are reasonable
and are subject to inherent risks and uncertainties. Actual results and
developments may differ materially from the results and developments discussed
in the forward-looking statements as certain of these risks and uncertainties
are beyond ENTREC's control. 


Examples of such forward-looking statements in this press release relate to, but
are not limited to: ENTREC's plan to execute a 2014 capital expenditure program
of $46 million; expectation that ENTREC's 2014 capital expenditure program will
be funded from its credit facilities, finance leases and cash from operating
activities and that it will have the flexibility to increase its 2014 capital
expenditure program throughout 2014 should customer demand warrant; belief the
Company will not need to raise any additional equity to fund its 2014 capital
expenditure program; expectation the Company will incur capital expenditures of
approximately $59 million in 2013 and exit 2013 with total net debt of
approximately $131 million; estimate revenue could range between $250 million
and $270 million for the year ending December 31, 2014; estimate 2013 revenue
will approximate $213 million, subject to final year-end billing and accounting
adjustments; expectation revenue levels will trend upward throughout 2014 as
project work begins to ramp up and utilization levels increase; expectation that
oil sands demand will begin ramping up in the first and second quarters of 2014
and continue to gain momentum as the year progresses; estimate a recently
awarded MRO contract, which commenced in December 2013, could generate up to $15
million in incremental annual revenue; belief ENTREC will continue to expand its
service capabilities in northwest B.C. in 2014 as it anticipates the planned
development of LNG facilities; belief northwest Alberta and northeast B.C. will
be a busy area for ENTREC in 2014 as it supports oil and natural gas projects in
the region; and estimate ENTREC's overall adjusted EBITDA margin for fiscal 2014
could approximate 25% and increase as the year progresses.


ENTREC's forward-looking statements involve a number of significant assumptions.
Key assumptions utilized in developing forward-looking statements related to
ENTREC's growth, revenue, and adjusted EBITDA margin expectations include
achieving its internal revenue, net income and cash flow forecasts for 2014. Key
assumptions involved in preparing ENTREC's internal forecasts include, but are
not limited to, its expectations and estimates that: demand for crane and heavy
haul transportation services in western Canada increases from current levels in
2014; ENTREC will be able to retain key personnel and attract additional
high-quality personnel to support its planned revenue growth; construction
projects and production activity in the Alberta oil sands region and in northern
British Columbia continue at or above current levels; ENTREC is able to achieve
anticipated revenues on current and future MRO contracts; the planned
development of LNG facilities proceeds and certain customers choose to utilize
ENTREC's services; there are no significant unplanned increases in ENTREC's cost
structure, including those costs related to fuel and wages; market interest
rates remain similar to current rates and that additional debt financing remains
available to ENTREC on similar terms to its existing debt financing; there is no
prolonged period of inclement weather that impedes or delays the need for crane
and heavy haul transportation services; the competitive landscape in western
Canada for crane and heavy haul transportation services does not materially
change in 2014; and there is no material adverse change in overall economic
conditions.


Achieving these forecasts largely depends on a number of factors beyond ENTREC's
control including several of the risks discussed further under "Business Risks"
in ENTREC Management's Discussion & Analysis for the three and nine months ended
September 30, 2013. The business risks that are most likely to affect ENTREC's
ability to achieve its internal revenue, net income and cash flow forecasts for
2014 are the volatility of the oil and gas industry, its exposure to the Alberta
oil sands, workforce availability, weather and seasonality, availability of debt
and equity financing, competition, and business integration risks. These risk
factors are interdependent and the impact of any one risk or uncertainty on a
particular forward-looking statement is not determinable. 


ENTREC's ability to finance its capital expenditure program through its debt
facilities depends on its ability to achieve debt financing terms acceptable to
the lenders and ENTREC as well as meeting its internal cash flow forecasts. 


Consequently, all of the forward-looking statements made in this press release
are qualified by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the actual results
or developments will be realized or, even if substantially realized, that they
will have the expected consequences to, or effects on, ENTREC. These
forward-looking statements are made as of the date of this press release. Except
as required by applicable securities legislation, ENTREC assumes no obligation
to update publicly or revise any forward-looking statements to reflect
subsequent information, events, or circumstances.


Neither the TSX Venture Exchange nor its regulation services provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ENTREC Corporation
Rod Marlin
Executive Chairman
(780) 960-5647


ENTREC Corporation
John M. Stevens
President & CEO
(780) 960-5625


ENTREC Corporation
Jason Vandenberg
CFO
(780) 960-5630
www.entrec.com

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