--  2013 first quarter revenue increased by 121% to $51.7 million 
--  Adjusted EBITDA margin increased to 25.7% from 23.8% in 2012 
--  2013 guidance reiterated: full-year revenue expected to exceed $215
    million 
--  Conference call tomorrow, May 15, 2013 



ENTREC Corporation (TSX VENTURE:ENT) ("ENTREC" or the "Company"), a leading
provider of heavy lift and heavy haul services, today announced financial
results for the three months ended March 31, 2013. 




----------------------------------------------------------------------------
Three Months Ended                                                          
$ thousands, except per share amounts and margin        March 31   March 31 
 percent                                                    2013       2012 
----------------------------------------------------------------------------
                                                                            
Revenue                                                   51,703     23,437 
                                                                            
Gross profit                                              17,952      8,105 
Gross margin                                                34.7%      34.6%
                                                                            
Adjusted EBITDA(1)                                        13,262      5,574 
Adjusted EBITDA margin(1)                                   25.7%      23.8%
 Per share(1)                                               0.14       0.12 
                                                                            
Adjusted net income(1)                                     5,485      2,669 
 Per share(1)                                               0.06       0.06 
                                                                            
Net income                                                 5,400      2,530 
 Per share - basic                                          0.06       0.06 
 Per share - diluted                                        0.05       0.06 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Note: (1) See "Non-IFRS Financial Measures" section of the Company's        
          Management Discussion & Analysis for the three months ended March 
          31, 2013.                                                         



"Strong revenue growth combined with a higher adjusted EBITDA margin contributed
to a strong first quarter for ENTREC," said John M. Stevens, ENTREC's President
and COO. 


For the three months ended March 31, 2013, revenue more than doubled to $51.7
million, from $23.4 million in the first quarter of 2012. The 121% revenue
improvement reflects the positive impact of business acquisitions completed over
the past year and continued strong demand from key markets. 


"We experienced strong demand for both our crane and heavy haul transportation
services in the Alberta oil sands region and across Northern B.C. during the
first quarter," added Mr. Stevens. "Offsetting this performance was lower demand
for our services in the conventional oil and natural gas markets we serve, which
had a slower start in 2013." 


From a seasonal perspective, several of ENTREC's heavy haul transportation
projects also got off to a slower start than anticipated in January due to an
extended Christmas season slow-down and poor weather conditions in January.
However, as projects commenced and weather conditions improved, utilization
rates significantly improved through the remainder of the first quarter. 


Adjusted EBITDA increased to $13.3 million during the first quarter of 2013, up
significantly from $5.6 million in Q1 2012. Higher revenue, combined with an
increased adjusted EBITDA margin, were the key factors in the improvement. As a
percentage of revenue, adjusted EBITDA margin increased to 25.7%, from 23.8% in
the first quarter of 2012. ENTREC's 2012 expansion into higher-margin crane
services, together with economies of scale in general and administrative
expenses achieved as a result of ENTREC's recent growth, contributed to the
higher adjusted EBITDA margin. 


First quarter adjusted net income more than doubled to $5.5 million, from $2.7
million in Q1 2012 as a result of the increased revenue and higher adjusted
EBITDA margin.


Adjusted earnings per share of $0.06 were consistent with Q1 2012 results, as
higher adjusted net income was offset by a higher number of common shares
outstanding as at March 31, 2013. This included the recent issuance of
18,672,000 common shares at a price of $1.75 per share, for gross proceeds of
$32.7 million in February 2013. Net proceeds of the offering were temporarily
utilized to reduce outstanding debt and strengthen ENTREC's balance sheet. The
Company plans to utilize its additional financial capacity to complete future
growth capital expenditures and accretive business acquisitions, which could in
turn, grow earnings per share. 


First quarter net income, reported in accordance with IFRS, grew to $5.4
million, from $2.5 million in the first quarter of last year. Net income
includes the after-tax effect of acquisition-related intangible asset
amortization, interest accretion on convertible debentures and gains (loss) on
the revaluation of the embedded derivative component of convertible debentures;
all of which are components excluded from the calculation of adjusted net
income.


Impact of Rental Equipment and Non-Recurring Fees on Adjusted EBITDA

To help meet demand for its services, ENTREC continues to use short-term rental
equipment to complement its owned fleet of cranes and trailers. While these
rentals provide greater financial flexibility, they generate lower economic
returns due to the rental costs involved. If equipment rental costs were
excluded from the Company's first quarter results, adjusted EBITDA would have
increased by a further $1.2 million to $14.5 million during the first quarter of
2013 (an increase of $0.4 million to $6.0 million during the same period in
2012). 


Most of the equipment ENTREC rents come with purchase options, including a
provision that allows the Company to apply much of its previous rental payments
against the purchase price. During the first quarter of 2013, ENTREC bought-out
$4.0 million of rental equipment as part of its capital expenditure program.
When warranted in the future, the Company will continue to access rental
equipment to meet short-term customer demand, while taking advantage of the
flexibility to acquire the equipment should long-term demand justify doing so. 


ENTREC's first quarter results also include $0.2 million in non-recurring
professional fees and other integration and rebranding costs (three months ended
March 31, 2012 - $0.1 million), which, if excluded, would have further increased
adjusted EBITDA during each of the periods reported.


Outlook Strong for 2013 and 2014

"Our outlook for 2013 and 2014 continues to be very positive," said Mr. Stevens.
"With the tremendous expansion in our business over the past year, we are well
positioned to capture a large share of the growing industrial development
occurring throughout Western Canada; most notably in Alberta's oil sands region
and throughout Northern B.C. Quoting activity continues to increase on a
year-over-year basis as customers become more aware of our enhanced scale and
operating capabilities. During the first quarter, we were granted heavy haul
transportation contracts extending into 2014 and 2015 that we would not have had
the scale of operations to execute even 12 months ago. We are also being awarded
integrated crane and heavy haul services projects as we cross-sell our crane and
heavy haul transportation services to both existing and new customers. Several
of our key customers have also expanded their existing master service agreements
with us to include crane services." 


Capital spending on projects in the Alberta oil sands region and across Western
Canada remains steady, resulting in high demand for crane and heavy haul
transportation services. ENTREC is also benefiting from the growing industrial
development occurring in Northern B.C., which includes ongoing mining,
hydro-electric, pipeline, and oil and natural gas projects as well as the
anticipated development of liquefied natural gas (LNG) facilities in Northwest
B.C. The Company is also currently providing crane services to support a
multi-billion-dollar revitalization of an aluminum smelter in Kitimat, B.C.


"Based on expected schedules for future projects, we believe demand for our
crane and heavy haul transportation services will continue to grow sequentially
through 2014 and 2015, and exceed the demand we are anticipating in 2013," added
Mr. Stevens. 


ENTREC expects demand from conventional oil and natural gas markets will
continue to fluctuate with industry exploration and production levels.
Approximately 20% of the Company's consolidated revenue is derived from the
conventional oil and natural gas sector, with the greatest exposure in ENTREC's
operations in Northwest Alberta, Northeast B.C. and North Dakota. During periods
of slower activity, ENTREC relocates equipment to support activity and customer
demand in other regions.


Moving into the second quarter of 2013, activity levels in some geographic
regions have been negatively affected by a wet spring and associated road
restrictions that limit access to certain sites. These access restrictions have
begun to subside and activity levels are beginning to return to normal levels. 


ENTREC today reiterated its previous revenue guidance for 2013. Based on current
expectations and assuming no further business acquisitions are completed, ENTREC
estimates revenue for the year ending December 31, 2013 could exceed $215
million. Future business acquisitions completed in fiscal 2013 could further
increase this revenue estimate.


2013 Capital Expenditure Program

In January 2013, ENTREC approved a 2013 capital expenditure program of $50
million. The program consists of $41 million in growth capital expenditures to
expand the Company's equipment fleet, as well as $9 million in maintenance
capital expenditures. A large portion of the 2013 capital expenditure program
will focus on continued expansion of ENTREC's capability and market share in
crane services. As part of this strategy, ENTREC exercised the purchase option
on $4.0 million of its rental crane units during the first quarter of 2013.
Crane services are highly complementary to heavy haul transportation as they
allow customers to meet both their heavy haul and lifting needs through one
vendor. Crane services also increase access to recurring onsite maintenance,
repair and operations (MRO) support work in the Alberta oil sands region, as
well as to the significant industrial construction work occurring in the oil
sands and in Northwest B.C. 


During the three months ended March 31, 2013, ENTREC made capital expenditures
of $15.6 million, consisting of $14.3 million in growth capital expenditures and
$1.3 million in maintenance capital expenditures. Approximately $10 million of
the capital expenditures in the first quarter were invested in crane equipment,
with the remainder directed to tractors and heavy haul trailers, as well as
support equipment. 


A complete set of ENTREC's most recent financial statements and Management's
Discussion and Analysis will be filed on SEDAR (www.sedar.com) and posted on the
Company's website (www.entrec.com).


First Quarter Conference Call

ENTREC will host a conference call and webcast to discuss its 2013 first quarter
financial results tomorrow, May 15, 2013 at 9:00 am (MDT) (11:00 am Eastern).
The call can be accessed by dialing toll-free: 1-866-226-1793 or 416-340-2218
(GTA and International). 


A replay will be available approximately two hours after the completion of the
call through Wednesday, May 22, 2013 by dialing 905-694-9451 / 1-800-408-3053,
passcode: 1863954.


The conference call will also be available via webcast within the Investors
section of ENTREC's website at: www.entrec.com.


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". 




--------------------------------------------------------------------------- 
Consolidated Statements of Financial Position          March 31 December 31 
As at                                                      2013        2012 
(thousands of Canadian dollars)                               $           $ 
--------------------------------------------------------------------------- 
                                                                            
ASSETS                                                                      
Current assets                                                              
 Cash                                                       869       2,511 
 Trade and other receivables                             48,557      41,789 
 Inventory                                                1,865       1,968 
 Prepaid expenses and deposits                            1,455       1,936 
----------------------------------------------------------------------------
                                                         52,746      48,204 
Non-current assets                                                          
 Long-term deposits                                         523         523 
 Deposits on business acquisitions                            -       4,273 
 Property, plant and equipment                          148,884     134,761 
 Intangible assets                                       24,164      23,868 
 Goodwill                                                56,462      53,575 
 Deferred income taxes                                      261         165 
----------------------------------------------------------------------------
                                                                            
Total assets                                            283,040     265,369 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current liabilities                                                         
 Trade and other payables                                17,464      16,781 
 Income taxes payable                                     2,540       2,703 
 Acquisition consideration payable                          575       2,320 
 Current portion of long-term debt                       12,632      14,226 
 Current portion of obligations under finance lease       1,054       1,298 
----------------------------------------------------------------------------
                                                         34,265      37,328 
Non-current liabilities                                                     
 Long-term debt                                          47,701      64,281 
 Obligations under finance lease                          3,014       4,914 
 Convertible debentures                                  22,804      23,426 
 Deferred income taxes                                   19,702      19,428 
----------------------------------------------------------------------------
Total liabilities                                       127,486     149,377 
----------------------------------------------------------------------------
                                                                            
Shareholders' equity                                                        
 Share capital                                          129,303      94,880 
 Contributed surplus                                      8,074       8,429 
 Retained earnings                                       18,119      12,719 
 Accumulated other comprehensive income (loss)               58         (36)
----------------------------------------------------------------------------
Total shareholders' equity                              155,554     115,992 
----------------------------------------------------------------------------
                                                                            
Total liabilities and shareholders' equity              283,040     265,369 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Consolidated Statements of Income                                           
Three Months Ended                                    March 31     March 31 
(thousands of Canadian dollars, except per share          2013         2012 
 amounts)                                                    $            $ 
----------------------------------------------------------------------------
                                                                            
Revenue                                                 51,703       23,437 
Direct costs                                            33,751       15,332 
----------------------------------------------------------------------------
                                                                            
Gross profit                                            17,952        8,105 
----------------------------------------------------------------------------
                                                                            
Operating expenses                                                          
General and administrative expenses                      4,690        2,531 
Depreciation of property, plant and equipment            3,869        1,268 
Amortization of intangible assets                          765          206 
Share-based compensation                                   456          171 
Loss on disposal of property, plant and equipment           14            9 
Gain on change in fair value of embedded                                    
 derivative                                               (886)           - 
----------------------------------------------------------------------------
                                                         8,908        4,185 
----------------------------------------------------------------------------
                                                                            
Income before finance items and income taxes             9,044        3,920 
----------------------------------------------------------------------------
                                                                            
Finance items                                                               
 Finance costs                                           1,711          474 
 Finance income                                              -          (10)
----------------------------------------------------------------------------
                                                         1,711          464 
----------------------------------------------------------------------------
                                                                            
Income before income taxes                               7,333        3,456 
----------------------------------------------------------------------------
                                                                            
Income taxes                                                                
 Current                                                 1,273            - 
 Deferred                                                  660          926 
----------------------------------------------------------------------------
                                                         1,933          926 
----------------------------------------------------------------------------
                                                                            
Net income                                               5,400        2,530 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Earnings per share - basic                                0.06         0.06 
Earnings per share - diluted                              0.05         0.06 
----------------------------------------------------------------------------
----------------------------------------------------------------------------



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, and share-based
compensation. 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 margin is calculated as adjusted
EBITDA divided by revenue. Adjusted EBITDA per share is calculated as adjusted
EBITDA divided by the basic weighted average number of shares outstanding during
the period.


Adjusted net income is calculated excluding the after-tax amortization of
acquisition-related intangible assets, notional interest accretion expense
arising from convertible debentures, and the gain (loss) on change in fair value
of the embedded derivative related to such convertible debentures. These
exclusions represent non-cash charges the Company does not consider indicative
of ongoing business performance. ENTREC also believes the elimination of
amortization of acquisition-related intangible assets provides management and
investors an improved view of its business results by providing a degree of
comparability to internally developed intangible assets for which the related
costs are expensed as incurred. Adjusted earnings per share is calculated as
adjusted net income divided by the basic weighted average number of shares
outstanding during the applicable period. 


Please see ENTREC's Management Discussion & Analysis for the three months ended
March 31, 2013 for reconciliations of adjusted EBITDA and adjusted net income to
net income, the most directly comparable financial measure calculated and
presented in accordance with IFRS.


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 utilize the additional financial capacity
provided by its recent equity financing to complete future growth capital
expenditures and accretive business acquisitions, which could in turn, grow
earnings per share; ENTREC's belief that it is well positioned to capture a
large share of the growing industrial development occurring throughout Western
Canada and most notably in Alberta's oil sands region and throughout Northern
B.C.; belief that based on expected schedules for future projects, demand for
crane and heavy haul transportation services will continue to grow sequentially
through 2014 and 2015 and exceed the demand we are anticipating in 2013;
anticipation of future development of LNG facilities in Northwest B.C. in the
coming years, as well as ongoing mining, hydro-electric, pipeline, and oil and
natural gas projects throughout these areas; and estimate ENTREC's revenue could
exceed $215 million for the year ending December 31, 2013. 


These forward-looking statements involve a number of significant assumptions.
Key assumptions utilized in developing forward-looking statements related to
ENTREC's future growth expectations include achieving its internal revenue, net
income and cash flow forecasts for 2013 and beyond. Achieving these forecasts is
largely dependent on a number of factors beyond ENTREC's control including all
of the risks discussed further under the "Business Risks" section in ENTREC's
Management Discussion and Analysis for the three months ended March 31, 2013 and
year ended December 31, 2012. 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 programs is dependent on its
ability to achieve debt financing terms acceptable to the lenders and ENTREC, as
well as meeting ENTREC's internal cash flow forecasts. 


ENTREC's ability to complete future accretive business acquisitions is dependent
on certain expectations and assumptions, including, among others: (i) ENTREC's
ability to identify such business acquisition opportunities; (ii) the results of
ENTREC's due diligence review of the businesses proposed to be acquired being
satisfactory; (iii) the ability of the parties to agree to the terms of a
definitive agreement, (iv) the ability of ENTREC to obtain the necessary
financing to complete any proposed business acquisition, (v) the ability of
ENTREC to receive the various approvals required, and (vi) the business
acquisition meeting or exceeding ENTREC's internal revenue, net earnings, and
cash flow forecasts for that business in the future. 


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.


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


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


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

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