Peak Energy Services Ltd. Announces the Voting Results of its Annual and Special Meeting

TSX SYMBOL: PES

CALGARY, May 25, 2011 /CNW/ - Peak Energy Services Ltd. ("Peak") is pleased to announce that the previously announced plan of arrangement (the "Arrangement"), pursuant to which Clean Harbors, Inc. ("Clean Harbors") will acquire all of the issued and outstanding common shares of Peak ("Peak Shares") for cash consideration of $0.95 per share, was approved by the holders ("Peak Shareholders") of Peak Shares at the annual and special meeting (the "Meeting") of Peak Shareholders held on May 25, 2011.  Approximately, 61% of the issued and outstanding Peak Shares were voted at the Meeting, with approximately 99% of the votes cast by Peak Shareholders voting in favour of the Arrangement.

The proposed Arrangement is still subject to certain conditions including, without limitation, the final approval of the Court of Queen's Bench of Alberta and appropriate regulatory and other authorities. The closing of the Arrangement is anticipated to be completed on June 10, 2011, but in any event no later than the outside date of June 30, 2011.

About Peak Energy Services Ltd.

Peak Energy Services Ltd. is a diversified energy services organization operating in western Canada and the United States of America. Through its various operating divisions, Peak provides drilling and production services to its customers both in the conventional and unconventional oil and natural gas industry as well as the oil sands regions of western Canada. Peak also provides water technology solutions to a variety of customers throughout North America. For more information, visit www.peak-energy.com.

About Clean Harbors, Inc.

Clean Harbors, Inc. is the leading provider of environmental, energy and industrial services throughout North America. Clean Harbors serves over 50,000 customers, including a majority of the Fortune 500 companies, thousands of smaller private entities and numerous federal, state, provincial and local governmental agencies. Headquartered in Norwell, Massachusetts, United States of America, Clean Harbors has more than 175 locations, including over 50 waste management facilities, throughout North America in 36 U.S. states, seven Canadian provinces, Mexico and Puerto Rico. Clean Harbors also operates international locations in Bulgaria, China, Singapore, Sweden, Thailand and the United Kingdom. For more information, visit www.cleanharbors.com.

Forward Looking Statements

This news release contains forward-looking statements and information (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation regarding expected future events of Peak. By its nature, forward-looking information requires Peak to make assumptions and is subject to numerous inherent risks and uncertainties. There is significant risk that assumptions, predictions and other forward-looking information will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking information as a number of factors could cause actual future results, conditions, actions or events to differ materially from expectations, estimations or intentions expressed in the forward-looking information. Forward-looking information in this news release includes, but is not limited to, the expected timing and receipt of necessary approvals for the Arrangement and the closing date of the Arrangement. Peak disclaims any intention or otherwise to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. It is the current policy of Peak to evaluate its past forward-looking information and where it deems appropriate, provide updates subject to requirements by law. The forward-looking information contained in this news release is made as of the date hereof. Additionally, Peak undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of this news release. As a result, you are cautioned not to place undue reliance on the forward-looking information.

The forward-looking information is based on certain assumptions made by Peak in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Peak's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Peak's expectations. Such risks and uncertainties include, but are not limited to the failure to receive approval of the Arrangement from the court or other regulatory authorities. Consequently, all of the forward-looking information made in this news release is qualified by this cautionary statement and there can be no assurance that the actual results or events anticipated by Peak will be realized or, even if substantially realized that they will have the expected consequences to or effects on Peak or its business or operations.

The TSX has neither approved nor disapproved the information contained herein.

SOURCE Peak Energy Services Ltd.

For further information:

Peak Energy Services Ltd.
Mr. Curtis W. Whitteron
President and Chief Executive Officer
Livingston Place, South Tower
Suite 900, 222 - 3rd Avenue SW  T2P 0B4
Tel: (403) 543-7325
Fax: (403) 543-7335

or

Peak Energy Services Ltd.
Mr. Monty R. Balderston
Chief Financial Officer
Livingston Place, South Tower
Suite 900, 222 - 3rd Avenue SW  T2P 0B4
Tel: (403) 543-7325
Fax: (403) 543-7335

Profil de l'entreprise

Peak Energy Services Ltd.

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