Global Energy Services Ltd. announces 2007 third quarter results



    TSXV - "GLK"

    CALGARY, Nov. 30 /CNW/ - Global Energy Services Ltd. ("the Corporation")
- (TSK-V: GLK) announces that the Board of Directors has approved the release
of the third quarter financials which show the effects of the termination of
the acquisition activities and of the general slow-down in industry activity.

    
    HIGHLIGHTS

    -------------------------------------------------------------------------
    Three Months ended September 30,                  2007         2006
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                                                      $            $
    -------------------------------------------------------------------------
    Revenue                                           2,008,068    2,639,851
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    Adjusted EBITDA                                    (151,150)     378,992
    -------------------------------------------------------------------------
    Net (loss)                                         (601,833)    (189,759)
    -------------------------------------------------------------------------
      Per Share                                          (0.032)      (0.008)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Nine Months ended September 30,                   2007         2006
    -------------------------------------------------------------------------
                                                      $            $
    -------------------------------------------------------------------------
    Revenue                                           6,982,675    8,825,438
    -------------------------------------------------------------------------
    Adjusted EBITDA                                    (503,058)   1,877,983
    -------------------------------------------------------------------------
    Net (loss)                                       (4,712,809)     347,962
    -------------------------------------------------------------------------
      Per Share                                          (0.229)       0.008
    -------------------------------------------------------------------------
    

    Mr. Derek Begin, President and CEO of Global Energy stated: "the oil and
gas industry's third quarter 2007 had reduced drilling and related activities
due to the current uncertainties in the investment climate and this is
reflected in the financial results of our communications segment. However, our
production services segment is continuing to gain market acceptance and I feel
that our artificial lift solution has significant growth potential for Global
Energy in the future."
    Readers can review the interim statements on the Company's website
located at www.global-energy.ca or on SEDAR located at www.sedar.com.

    About Global Energy Service 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 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




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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