Leader Energy Services Ltd.

Leader Energy Services Ltd.

October 17, 2006 07:00 ET

Leader Provides Cementing Update

CALGARY, ALBERTA--(CCNMatthews - Oct. 17, 2006) - Leader Energy Services Ltd. (TSX VENTURE:LEE) ("Leader" or the "Company") provides the following update of the Company's Canadian cementing operations.

To date Leader has manufactured and is operating 4 twin and 6 single cementing units. These units operate from the Company's new facilities in Brooks, Red Deer and Grande Prairie, Alberta.

Operational performance of the cementing equipment has met Leader's internal expectations and has surpassed client expectations. Clients have stated they are impressed with Leader's cement blends and the experience and enthusiasm of the cement crews. This has resulted in a high level of demand for Leader's cementing services.

The balance of cementing equipment will be delivered over the course of the fourth quarter of 2006. The Company has the necessary operating personnel to be able to immediately put this equipment to work.

Leader Energy Services provides well stimulation and cementing services in western Canada and the northeastern 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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