<PAGE> PAGE 1
000 B000000 08/31/97
000 C000000 939801
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 OPPENHEIMER ENTERPRISE FUND
001 B000000 811-07265
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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018 000000 Y
019 A000000 Y
019 B000000 49
019 C000000 OPPENHEIMR
020 A000001 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
020 B000001 13-5674085
020 C000001 3
020 A000002 BEAR STEARNS & CO., INC.
020 B000002 13-3299429
020 C000002 3
020 A000003 CANTOR FITZGERALD & CO., INC.
020 B000003 95-1786286
020 C000003 2
020 A000004 BLAIR (WILLIAM) & CO.
020 B000004 36-2214610
020 C000004 2
020 A000005 VAN KASPER & CO.
020 B000005 94-2498482
020 C000005 2
020 A000006 FIRST BOSTON CORP. (THE)
020 B000006 13-5659485
020 C000006 1
020 A000007 DILLON, READ & CO., INC.
020 B000007 13-1939216
020 C000007 1
020 A000008 KLEINWORT BENSON NORTH AMERICA, INC.
020 B000008 13-2647786
020 C000008 1
<PAGE> PAGE 2
020 A000009 INSTINET CORP.
020 B000009 13-3443395
020 C000009 1
020 A000010 MORGAN STANLEY & CO., INC.
020 B000010 13-2655998
020 C000010 1
021 000000 16
022 A000001 MORGAN GUARANTY TRUST CO.
022 B000001 13-5123346
022 C000001 269100
022 D000001 0
022 A000002 PAINEWEBBER, INC.
022 B000002 13-2638166
022 C000002 236705
022 D000002 827
022 A000003 ZION FIRST NATIONAL BANK
022 B000003 87-0189025
022 C000003 209600
022 D000003 0
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 161780
022 D000004 1328
022 A000005 HAMBRECHT & QUIST, INC.
022 B000005 94-2856935
022 C000005 4783
022 D000005 7302
022 A000006 HERZOG, HEINE, GEDULD, INC.
022 B000006 13-1955436
022 C000006 3799
022 D000006 6574
022 A000007 BROWN (ALEX.) & SONS, INC.
022 B000007 52-1319768
022 C000007 2593
022 D000007 4717
022 A000008 MONTGOMERY SECURITIES
022 B000008 94-1701676
022 C000008 4088
022 D000008 3097
022 A000009 BLAIR (WILLIAM) & CO.
022 B000009 36-2214610
022 C000009 3765
022 D000009 3177
022 A000010 COWEN & CO.
022 B000010 13-5616116
022 C000010 4444
022 D000010 1245
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<ACCUMULATED-NII-PRIOR> (2,168)
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> OPPENHEIMER ENTERPRISE FUND - B
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<ACCUMULATED-NII-PRIOR> (2,168)
<ACCUMULATED-GAINS-PRIOR> 2,262,505
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<AVERAGE-NET-ASSETS> 20,410,000
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</TABLE>
<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER ENTERPRISE FUND:
In planning and performing our audit of the financial statements of Oppenheimer
Enterprise Fund for the year ended August 31, 1997, we considered its internal
control structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.
The management of Oppenheimer Enterprise Fund is responsible for establishing
and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considered to be material weaknesses as defined above as of
August 31, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission and should not be used for any other
purpose.
/s/KPMG PEAT MARWICK
KPMG PEAT MARWICK LLP
Denver, Colorado
September 22, 1997
<PAGE>
During the period ended August 31, 1997, the Fund adjusted the classification of
distributions to shareholders to reflect the differences between financial
statement amounts and distributions determined in accordance with income tax
regulations. Accordingly, during the period ended August 31, 1997, amounts have
been reclassified to reflect an increase in undistributed net investment income
of $962,205. Accumulated net realized gain on investments was decreased by the
same amount.
