CALGARY, ALBERTA–(Marketwired – March 29, 2017) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Western Energy Services Corp. (“Western”) (TSX:WRG) announced today that it has received a notice of termination from Savanna Energy Services Corp. (“Savanna”) of the arrangement agreement between Western and Savanna dated March 8, 2017, as amended on March 14, 2017 (the “Arrangement Agreement”). Western is considering what remedies it may have in connection with Savanna’s notice of termination or otherwise under the Arrangement Agreement.
Western’s Annual and Special Meeting scheduled for May 9, 2017 will proceed as planned; however, in light of the receipt of the notice of termination, the formal shareholder vote on the issuance of common shares in connection with the arrangement will not take place.
About Western Energy Services Corp.
Western is an oilfield service company which provides contract drilling services in Canada through its division Horizon Drilling and in the United States through its wholly owned subsidiary Stoneham Drilling Corporation. In Canada, Western also provides well servicing through its division Eagle Well Servicing and provides oilfield rental services through its division Aero Rental Services.
Western Energy Services Corp.
Alex R.N. MacAusland
President and CEO
403.984.5916
403.984.5917 (FAX)
Western Energy Services Corp.
Jeffrey K. Bowers
Senior VP Finance and CFO
403.984.5916
403.984.5917 (FAX)
www.wesc.ca