Essential Energy Services Ltd.
TSX : ESN

Essential Energy Services Ltd.

June 15, 2010 18:40 ET

Essential Energy Services Announces Acquisition of Nitrogen Assets

CALGARY, ALBERTA--(Marketwire - June 15, 2010) - Essential Energy Services Ltd. (TSX:ESN) ("Essential") is pleased to announce that it has acquired three nitrogen pumpers and related equipment for $1.7 million (the "Acquisition") from Nitro Pro Energy Services Inc., a private energy services company. The assets are relatively new and the purchase price represents a significant discount to replacement cost. The Acquisition increases Essential's fleet of nitrogen pumpers to ten. Essential also has six nitrogen bulkers. The acquired assets complement the coil tubing fleet and will be deployed to further grow Essential's operations in central and southern Alberta and in southeast Saskatchewan.

ABOUT ESSENTIAL

Essential Energy Services Ltd. is a growth-oriented corporation that provides oilfield services to oil and gas producers in western Canada for servicing producing wells and new drilling activity. Essential provides services through its Well Servicing and Downhole Services & Rentals divisions. With 51 service rigs, Essential is the 6th largest service rig provider in Canada. With 32 coil tubing rigs, Essential has the largest coil tubing well service fleet in Canada. Essential sells and services a full-range of downhole tools including Tryton's multi-stage fracturing system and offers rental equipment. Essential also provides slickline, perforating and logging services with 20 wireline trucks. Further information about Essential can be found at www.essentialenergy.ca.

READER ADVISORY

This news release contains forward-looking statements and information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking statements concerning the future use of the acquired assets. 

These forward-looking statements and information are based on certain key expectations and assumptions made by Essential. Although Essential believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Essential can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to failure to use the acquired assets as anticipated. Accordingly, readers should not place undue reliance on the forward-looking statements and information. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Essential or Essential's financial results are included in Essential's securities filings with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

The forward-looking statements and information contained in this news release are made as of the date hereof and Essential undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. 

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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