Leader Energy Services Ltd.

Leader Energy Services Ltd.

January 04, 2011 08:00 ET

Leader Energy Services Announces Partial Conversion of Debentures

CALGARY, ALBERTA--(Marketwire - Jan. 4, 2011) - Leader Energy Services Ltd. (TSX VENTURE:LEA) ("Leader" or the "Company") announced that it has received additional exercise notices for partial conversions of its outstanding senior unsecured convertible debentures in the face amount of $1,000,000, or 2,500,000 shares. When these partial conversions are completed, the Company will have 17,215,000 shares outstanding.

Leader issued $15,000,000 of debentures on February 28, 2007 of which $13,420,000 remains outstanding. The debentures bear interest at 10% per annum, are convertible at $0.40 per share, and mature on March 31, 2012.

Further information can be found under the Company's listing at www.sedar.com and on the Company's website at 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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