Global Energy Services Ltd. Announces Release of 2006 Financial Results and Corporate Updates

    Shares outstanding: 18,819,293

    CALGARY, April 26 /CNW/ - Global Energy Services Ltd. ("the Corporation")
- (TSX-Ven: GLK) is pleased to announce that the Board of Directors has
approved the release of the 2006 financials which show record levels of

    Year ended December 31,                               2006          2005
    Revenue                                         11,430,718    10,491,981
    EBITDA                                           2,300,512     2,981,932
      Per Share                                          0.123         0.177
    Net income                                           3,305       107,804
      Per Share                                          0.000         0.006

    Three Months ended December 31,                       2006          2005
    Revenue                                          2,605,281     3,440,097
    EBITDA                                             422,529     1,182,641
      Per Share                                          0.022         0.064
    Net income (loss)                                 (149,963)      698,289
      Per Share                                         (0.008)        0.038

    Mr. Derek Begin, President and CEO of Global Energy stated, "the 2006
financial numbers show the impacts of both the slow down in exploration
activity in the last half of 2006 and an increase in our indirect costs
associated with our growth plans. Our artificial lift system made significant
progress in 2006 and we expect growth and profitability in the future based on
the recent strengthening in the prices of oil and gas commodities."
    Global Energy Services Ltd announces the departure of David Arbuthnot,
Chief Operating Officer (COO) effective immediately. This position was added
to the corporation in the third quarter of 2006 to oversee the day-to-day
operations and expand the business and streamline processes. We thank David
for his contributions and wish him the best in his future endeavors.

    Global Energy Services Ltd. offers a complete suite of integrated
communication solutions providing wireless communications to the oil and gas
industry through our communications division. Global Energy's focus on
supporting our customer needs through a 24/7/365 call centre and our
investment in the best communications products have positioned the Company as
a technology leader with proven and developed solutions that meet the needs of
its customers. Our new production services division is seeking market
opportunities for its Hydraulic Submersible Pump in both gas and wet coal bed
methane plays.
    Readers can review the interim statements on the Company's website
located at or on SEDAR located at

    The information in this news release includes certain information and
statements about management's view of future events, expectations, plans and
prospects that constitute forward looking statements. These statements are
based upon assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a result of a
variety of factors, the actual results, expectations, achievements or
performance may differ materially from those anticipated and indicated by
these forward looking statements. Although Global Energy Services Ltd.
believes that the expectations reflected in forward-looking statements are
reasonable, it can give no assurances that the expectations of any forward
looking statements will prove to be correct. Global Energy disclaims any
intention and assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new information,
future events, changes in assumptions, changes in factors affecting such
forward looking statements or otherwise.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Derek M. Begin, President and Chief Executive
Officer, 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:, Or visit our web site at:

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