Leader Energy Services Ltd.

Leader Energy Services Ltd.

May 24, 2005 06:00 ET

Leader Energy Services Announces 2005 Expectations

CALGARY, ALBERTA--(CCNMatthews - May 24, 2005) - Leader Energy Services Ltd. (TSX VENTURE:LEE) ("Leader" or the "Company") today announced that it expects revenue for the fiscal period ending December 31, 2005 to range between $17 and $22 million and diluted earnings per share to range between 17 and 22 cents, which is higher than previously expected. By the start of the fourth quarter of 2005, Leader will have doubled its coiled tubing and nitrogen pumping capacity, which will further enhance future financial performance.

Demand for Leader's services remains firm and this is reflected in improved pricing since the beginning of the year. Continued strength in commodity pricing points to a strong conclusion to 2005, which is to be conveyed into 2006. With industry fundamentals at record highs the Company is positioning itself to maximize future growth potential.

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.

Leader Energy Services provides essential field services for oil and gas well stimulation from three locations in Grande Prairie, Red Deer and Hinton, Alberta. Leader supplies coiled tubing and flameless nitrogen pumping services as well as other flameless equipment and services. Further information on Leader can be found under the Company's listing at http://www.sedar.com and on the Company's website at http://www.leaderenergy.com.

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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