CALGARY, Dec. 17 /CNW/ - On December 17, 2010, Mr. Ronald P. Mathison of
Calgary, Alberta, a director of Western Energy Services Corp.
("Western") acquired ownership of 128,098,306 common shares in the
capital of Western ("Western Shares"), which constitutes approximately
17.0% of the issued and outstanding Western Shares. The Western Shares
were issued pursuant to a plan of arrangement (the "Plan of
Arrangement") whereby Western acquired all of the issued and
outstanding units of Pantera Drilling Income Trust ("Pantera") in
exchange for 21.9048 Western Shares for each unit of Pantera.
Upon closing of the Plan of Arrangement Mr. Mathison became a director
of Western. Mr. Mathison now beneficially owns or exercises control of
an aggregate of 128,098,306 Western Shares representing approximately
17.0% of the issued and outstanding Western Shares. Mr. Mathison
advises that the Western Shares are held for investment purposes and
that he does not currently intend to acquire additional securities of
Western. The Western Shares are listed on the TSX Venture Exchange
under the trading symbol "WRG".
SOURCE Western Energy Services Corp.
For further information:
Dale E. Tremblay, Chief Executive Officer, Western Energy Services Corp. at (403) 984-5929