EcoMax Energy Services Ltd.
TSX VENTURE : EES

EcoMax Energy Services Ltd.

March 22, 2006 11:53 ET

EcoMax Announces Debenture Conversion

CALGARY, ALBERTA--(CCNMatthews - March 22, 2006) - EcoMax Energy Services Ltd. (TSX VENTURE:EES) ("EcoMax") announces that 92% of its 10% convertible debentures have been converted to common shares of the Company. The $500,000 debenture was issued in February 2003 and until February 21, 2006 was convertible at a rate of $0.175 per common share.

From December 2005 to February 21, 2006, debenture holders requested conversion on $460,000 of the debenture. This resulted in the issuance of 2,628,567 shares, of which 1,171,428 were issued to insiders of the Company. After the issue the Company has 24,373,479 shares issued and outstanding. The conversion will reduce the Company's 2006 interest expense by approximately $40,000. The remaining $40,000 of the debenture is now convertible at $0.20 per common share and will likely be retracted by the Company during the 2nd quarter of this year.

EcoMax Energy Services Ltd. is an oilfield services company whose product offering includes BOP and valve sales and service solutions to the oil and gas and other industries in Western Canada and the patented EcoMax Chemical Pump. The EcoMax Pump reduces operating costs and greenhouse gas emissions at natural gas installations by utilizing a small pressure differential from the wellhead to the flow line to power a methanol chemical injection pump, which prevents hydrates from forming at the wellhead. The pump returns the exhaust gas to the sales line increasing natural gas sales and eliminating wellhead atmospheric emissions. The EcoMax Pump offers significant economic benefits to customers while enhancing safety and landowner relations. Operators can sell gas now being emitted to the atmosphere from sweet gas facilities, eliminate the need for propane at sour gas facilities and may accumulate carbon credits for greenhouse gas reductions. The EcoMax Pump addresses issues in the Kyoto agreement and Alberta Energy and Utilities Board Guide 60 on the emission of fugitive gases from well sites.

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

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