Leader Energy Services Ltd.

Leader Energy Services Ltd.

December 10, 2007 11:48 ET

Leader Energy Services Engages Canaccord Capital To Explore Strategic Alternatives

CALGARY, ALBERTA--(Marketwire - Dec. 10, 2007) -


Leader Energy Services Ltd. (TSX VENTURE:LEE) ("Leader" or the "Company") today announced it has initiated a review process and has engaged Canaccord Capital Corporation as financial adviser to the Company.

The intent of the review is to explore a range of strategic alternatives that have the potential to enhance value for the shareholders of the Company. Potential strategic alternatives could include, for example, a business combination with another company, a financing or some variation thereof.

The Company will form an independent committee of the board of directors to work with and assist Canaccord Capital in exploring these strategic alternatives. This process is not in response to any proposed transaction, nor is there any assurance that it will lead to a transaction.

The Company also announces that it has signed a term sheet to allow for the assignment of the Company's bank debt facility, currently in the amount of $25.5 million, to a third party, subject to ongoing due diligence and completion of documentation.

Leader Energy Services Ltd. provides well stimulation services in western Canada and the northeastern United States. Further information on Leader can be found under the Company's listing at www.sedar.com and on the Company's website at www.leaderenergy.com.

Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "estimate", "believe", "likely", "will", or estimates of business activity, and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Leader to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors include commodity prices, demand for oil and gas related products and service, competition, political and economic conditions, demand and acceptance of new products and ways of doing business, changes in laws and regulations to which Leader is subject, and the ability to attract and retain key personnel.

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

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