Forbes Energy Services Reports Selected Operating Data for July 2010


    
    ~ Rig hours up 34% year-over-year ~

    ~ Truck hours up 46% year-over-year ~






    
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<p>ALICE, Texas, <span class="xn-chron">Aug. 11</span> /CNW/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours for the month of <span class="xn-chron">July 2010</span>.</p>
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                                      For the month ending
                                      --------------------
                          July 31,                           July 31,
                            2010        June 30, 2010          2009
                         ---------      -------------       ---------
    Working days                 21                22               22
    Rig hours
      U.S.                   25,629            28,446           19,119
      Mexico                  5,904             5,880            4,392
                              -----             -----            -----
      Total rig hours        31,533            34,326           23,511
    
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    Truck hours              95,461            90,399           65,416


    
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<p><span class="xn-person">John Crisp</span>, Forbes Energy's President and Chief Executive Officer, commented, "Although rig hours in the U.S. were impacted by the 4th of July holiday, we are pleased that rates have continued to improve in selected markets for both our rig and trucking divisions.  The impact of the increased rates will be reflected in our third quarter results."</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 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>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.
                 ---------------------------
                 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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FORBES ENERGY SERVICES LTD.

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