Savanna Energy Services Corp. notice of intention to purchase shares



    CALGARY, Dec. 17 /CNW/ - Savanna Energy Services Corp. ("Savanna" or the
"Corporation") (TSX:SVY) announces that it has filed with the Toronto Stock
Exchange ("TSX") a notice of intention to make normal course purchases of its
common shares (the "Notice"). The TSX has accepted the Notice.
    Savanna currently has 59,535,638 common shares issued and outstanding as
at December 7, 2007. Under this normal course issuer bid Savanna may purchase
up to 2,950,000 of the common shares of Savanna, representing approximately 5%
of the issued and outstanding common shares of Savanna and Savanna's maximum
daily purchases will be limited to 65,093 common shares. Purchases of common
shares will commence on December 19, 2007 and will terminate on December 18,
2008, or on such earlier date as Savanna may complete its purchases pursuant
to the Notice. Purchases will be made in the open market through the
facilities of the TSX in accordance with its rules and policies. The price
that Savanna will pay for any such common shares will be the market price of
such common shares at the time of acquisition. Common shares purchased will be
cancelled.
    Savanna believes that the current trading price of its common shares does
not reflect the value of such shares in relation to Savanna's business and its
future business prospects. Accordingly, Savanna believes that the commencement
of the Issuer Bid represents an opportunity to create value for shareholders,
is in the best interests of Savanna and its shareholders and is an appropriate
use of Savanna's funds.
    To the knowledge of Savanna, no director, officer or other insider of
Savanna intends at present to sell any common shares during the period of this
bid other than one director of Savanna and one officer of a subsidiary of
Savanna who have expressed an intention to sell up to 300,000 common shares
and 20,000 common shares, respectively.

    Headquartered in Calgary, Alberta, Savanna's principal operations are in
Canada, although the Corporation also carries on operations in the United
States. Savanna is a leading drilling and well servicing contractor continuing
a modern proprietary equipment offering with industry leading First Nations
partnerships.

    %SEDAR: 00019742E




For further information:

For further information: Savanna Energy Services Corp., Ken Mullen,
President and Chief Executive Officer, Telephone: (403) 267-6726; Savanna
Energy Services Corp., George Chow, Executive Vice President, Corporate,
Telephone: (403) 267-6728

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Savanna Energy Services Corp.

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