Leader Energy Services Ltd.
TSX VENTURE : LEE

Leader Energy Services Ltd.

December 19, 2007 17:31 ET

Leader Energy Services Enters Into New Banking Arrangement

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2007) -

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

Leader Energy Services Ltd. (TSX VENTURE:LEE) ("Leader" or the "Company") today announced it has entered into a new banking arrangement, which involves paying out its current debt facility. The new revolving facility is structured as a $25.5 million demand loan secured by Leader's assets, with Leader having the option to access an additional $2 million operating facility which would be secured by the Company's receivables.

This new facility will provide the Company with additional working capital as it works with its financial advisors to explore shareholder maximization alternatives.

Leader Energy Services Ltd. provides well stimulation services in western Canada and three districts in the 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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