Global Energy announces private placement



    TSXV - "GLK"
    Shares Outstanding 18,819,293

    CALGARY, Jan. 7 /CNW/ - Global Energy Services Ltd. (GLK - TSX Venture),
an innovative oilfield service company that provides production services and
communications solutions to the oil and gas industry, intends to raise, by way
of non-brokered private placement, equity financing of up to $306,000.
    The offering will consist of up to 1,700,000 units at $0.18 per unit for
gross proceeds to Global Energy of up to $306,000. Each unit will consist of
one common share and one half of one common share purchase warrant, with each
whole warrant entitling the holder thereof to acquire one additional common
share of Global Energy from treasury at an exercise price of $0.50 per share
for a period of 2 years from the closing of the offering. Directors, officers
and other insiders of Global Energy may participate in the offering.
    Net proceeds of approximately $300,000 from this private placement will
be used to fund business development activity and for working capital
purposes. The closing of the private placement is subject to the approval of
the TSX Venture Exchange.

    About Global Energy Services Ltd.

    Global Energy Services Ltd. is an innovative oilfield service company
that provides production services and communications solutions to the oil and
gas industry. The production services segment utilizes their patented
Activator hydraulic submersible pump to enhance gas production in conventional
gas and coalbed methane wells. Global's communications segment provides a
complete suite of integrated products and solutions specifically suited for
the oil and gas industry. Global Energy was founded in 1994 and is listed on
the TSX-V.

    More information about Global Energy Services can be found at
http://www.global-energy.ca

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00006009E




For further information:

For further information: Derek M. Begin, President and Chief Executive
Officer, Farhan Farshori, Vice President, Corporate Development, Global Energy
Services Ltd., No. 10, 5920 - 11th Street S.E., Calgary, Alberta T2H 2M4, Tel:
(403) 243-0820, Fax: (403) 243-3425, E-mail: dbegin@global-energy.ca, E-mail:
ffarshori@global-energy.ca, Web site at: www.global-energy.ca

Organization Profile

GLOBAL ENERGY SERVICES LTD.

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