Strad Energy Services Announces Changes to Management Team and Board of Directors

CALGARY, ALBERTA--(Marketwire - June 11, 2012) -

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Strad Energy Services Ltd., ("Strad" or the "Company") (TSX:SDY), a North American-focused, diversified energy services company, today announced the appointment of Mr. Andy Pernal, previously President of Strad, to the position of President and CEO, succeeding Mr. Henry van der Sloot who is taking on the role of Executive Chairman. Mr. Pernal has been President of Strad since 2009 and joined the Company in 2006 as Chief Financial Officer. John Hagg, who has served as Chairman of the Board of Directors of Strad since Strad's inception in 2006, will step down from the role of Chairman but continue to serve as a Director of the Company.

"These changes represent a natural progression in Strad's evolution," said Henry van der Sloot, Executive Chairman of Strad. "By promoting from within the Strad family we can draw on the specific experience that has made us successful to this point and ensure the continuity of our dynamic growth strategy in the years ahead. I remain committed to playing an active and visible role at the board level in the development and execution of our overall direction as we move into our next phase of growth. We are also delighted that John will continue as a director of the board so that we may continue to benefit from his expertise and insight in the future and I want to thank him on behalf of the entire team for his many contributions as Chairman."

The Company today also announced the appointment of Mr. Greg Duerr to the role of Chief Financial Officer. Mr. Duerr was most recently Vice President Finance & Treasurer of CCS Corporation where he was actively involved in strategic planning, risk management, capital markets, and business development. Prior to joining CCS in 2008, Greg was Vice President - Valuations and Strategic Advisory at PricewaterhouseCoopers LLP (PwC). He is a Chartered Accountant, a Chartered Business Valuator, and a graduate of the University of Saskatchewan (with Great Distinction).

"We are pleased to welcome an individual with Greg's extensive experience to the Strad team and believe his specific sector expertise with CCS and his strategic advisory experience with PwC will allow him to rapidly assume a leading role across multiple finance, capital markets and business development initiatives," said Andy Pernal, President and CEO of Strad. "We have assembled a strong, diverse and capable team to lead Strad at both the executive and senior management levels, which will allow us to advance a range of strategic operational activities in the near term."

ABOUT STRAD ENERGY SERVICES LTD.

Strad is a North American energy services company that focuses on providing well-site infrastructure and activation solutions to the oil and natural gas industry. Strad focuses on providing complete customer solutions in well-site-related oilfield equipment for producers active in unconventional resource plays.

Strad is headquartered in Calgary, Alberta, Canada. Strad is listed on the Toronto Stock Exchange under the trading symbol "SDY".