Leader Energy Services Ltd.

Leader Energy Services Ltd.

October 03, 2011 06:00 ET

Leader Energy Services Provides Third Quarter Financial Guidance and Operations Update

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2011) - Leader Energy Services Ltd. ("Leader" or the "Company") (TSX VENTURE:LEA) today announced that it expects revenue for the third quarter ending September 30, 2011 to exceed $9.8 million, an increase of greater than 50% over the comparable quarter last year. These results exceeded internal expectations and represent the highest third quarter revenue reported from the Western Canadian Sedimentary Basin in the Company's ten-year history.

The Company anticipates placing its new 2-3/8" deep coiled tubing unit and its second fluid pumper into service by the end of this month. This equipment is in very high demand and forms an integral component of longer-reach coiled tubing operations.

By the end of this year, Leader will have significantly increased its deep coiled tubing and fluid pumping capacity, which will further enhance future financial performance.

The Company anticipates robust demand for its services through to spring breakup. Additional expansion plans will be determined in the fourth quarter of 2011.

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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