Forbes Energy Services Reports Selected Operating Data for April 2010


    
    - Rig hours up 43.7% year-over-year -

    - Truck hours up 39.3% year-over-year -






    
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<p>ALICE, Texas, <span class="xn-chron">May 12</span> /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours for the month of <span class="xn-chron">April 2010</span>.</p>
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                                      For the month ending
                                      --------------------
                      April 30, 2010    March 31, 2010     April 30, 2009
                      --------------    --------------     --------------
    Working days                   21               23                 21
    Rig hours
      U.S.                     24,521           25,807             18,890
      Mexico                    6,240            6,168              2,520
                                -----            -----              -----
      Total rig hours          30,761           31,975             21,410
    
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    Truck hours                93,668           93,742             67,236


    
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<p><span class="xn-person">John Crisp</span>, Forbes Energy's President and Chief Executive Officer, commented, "We're seeing substantial year-over-year improvements across all of our operations.  Sequentially, rig and truck hours per day are continuing to rise and we expect the improvements to endure as we're now headed into our peak season.  During the months of May through October we typically experience stronger activity due to improved weather and longer daylight hours.</p>
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<p>"Most of the growth is driven by strength in oil-directed work in West Texas, and natural gas liquids in our core South Texas market.  However, we're also seeing early signs of improvement in the natural gas focused East Texas market.</p>
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<p>"We're also continuing to see firmer pricing in various degrees across the different geographic regions.  Some of that is due to pass-through of rising labor costs, but some of that is also coming in the form of expanding margin.  Although pricing is still significantly below 2008 peak levels, we expect that gap to gradually decrease as long as utilization trends remain healthy.</p>
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<p>"In <span class="xn-location">Mexico</span>, our utilization remains strong in spite of the issues that some other operators have experienced in the region.  As our new management team continues streamlining processes, cutting costs, and recruiting talented local personnel, we expect improved financial results from that operation going forward."</p>
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<p>Forbes Energy Services cautions that several factors other than those discussed above may impact the Company's operating results and that a particular trend regarding the factors above may or may not be indicative of the Company's current or future financial performance.</p>
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<p>U.S. rigs generally work all weekdays except holidays.  <span class="xn-location">Mexico</span> rigs generally work every day except holidays.  Trucks generally operate every day except Sundays and holidays.   Rig and truck hours represent actual hours billed to customers.</p>
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<p>Forbes Energy Services Ltd. is an independent oilfield services contractor that provides a broad range of drilling-related and production-related services to oil and natural gas companies, primarily onshore in Texas, Mississippi, Pennsylvania and <span class="xn-location">Mexico</span>.</p>
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    Forward-Looking Statements
    
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<p>This press release contains "forward-looking statements," as contemplated by the Private Securities Litigation Reform Act of 1995, in which the Company discusses factors it believes may affect its performance in the future. The accuracy of the Company's assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company's actual future results might differ from the forward-looking statements made in this press release for a variety of reasons, which include: supply and demand for oilfield services and the level of oil and natural gas prices; the continued uncertainty in the global financial markets and its effect on domestic spending in the oil and natural gas industry; the Company's ability to maintain or improve pricing on its core services; the potential for excess capacity in the industry; competition and the ability to obtain additional cash resources through a financing or other permitted transaction. Should one or more of the foregoing risks or uncertainties materialize, or should the Company's underlying assumptions prove incorrect, the Company's actual results may vary materially from those anticipated in its forward-looking statements, and the Company's business, financial condition and results of operations could be materially and adversely affected.   Additional factors that you should consider are set forth in detail in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended <span class="xn-chron">December 31, 2009</span> (the "Form 10-K") as well as other filings the Company has made with the Securities and Exchange Commission.</p>
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    Contacts:      Forbes Energy Services Ltd.
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                   L. Melvin Cooper, SVP & CFO
                   361-664-0549
    
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                   DRG&E
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                   Ken Dennard, Managing Partner
                   Ben Burnham, AVP
                   713-529-6600





    

For further information: For further information: L. Melvin Cooper, SVP & CFO of Forbes Energy Services Ltd., +1-361-664-0549; or Ken Dennard, Managing Partner, or Ben Burnham, AVP, both of DRG&E, +1-713-529-6600, for Forbes Energy Services Ltd.

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