Deepwell Energy Services Trust
TSX : DWL.UN

Deepwell Energy Services Trust

December 19, 2008 19:56 ET

Deepwell Energy Services Trust Announces Suspension of Distribution

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Deepwell Energy Services Trust (TSX:DWL.UN) ("Deepwell" or the "Trust") announces that, in light of the current economic environment, Deepwell's trustees have decided effective today to suspend distributions including the distribution that would have been declared to unitholders of record on December 31, 2008. The decision to suspend distributions was made to allow the company to conserve cash, reduce its debt levels and position the Trust to capitalize on future growth opportunities as the economy improves.

About Deepwell

Deepwell Energy Services Trust is a Calgary, Alberta-based income trust focused exclusively on providing waste treatment and disposal services to the oil and natural gas industry in western Canada.

Forward-looking statements

Certain statements in this document constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Trust or Deepwell LP, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as "may", "will", "intend", "should", "expect", "believe", "plan", "anticipate", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this document.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.

Although the forward-looking statements contained in this document are based upon what management believes are reasonable assumptions, the Trust cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this document. The Trust does not assume any obligation to update or revise them to reflect new events or circumstances, except as required by applicable securities legislation.

Additional information about the Trust is available at www.sedar.com and on the Trust's website at www.deepwellenergy.com.

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