June 30, 2010


Shares Outstanding 20,785,959

CALGARY, Aug. 30 /CNW/ - Global Energy Services Ltd. ("Global") (GLK - TSX Venture) announces financials.

    Six months ended June 30, 2010                       2009           2010
                                                 Consolidated   Consolidated
                                                            $              $

    Revenue                                         3,401,304      2,999,173
    Expenses                                        3,303,521      2,510,742
    Development costs                                 316,843         69,504
    Segment Income                                   (219,060)       418,927
    Stock-based compensation expense                   26,457         10,866
    Interest                                           20,366         29,259
    Amortization and write-downs                      215,477        216,729
    Income tax expense (recovery)                    (146,546)        22,071
    Net Income                                       (334,814)       140,002
    Capital expenditures                              109,694        220,676
    Total assets                                    4,481,593      4,092,562


    -   Net income (loss) increased by $474,816 resulting in a net income of
        $140,002 for the six month period ended June 30, 2010 as compared to
        a net loss of $334,814 in the comparable period in 2009.

    -   Revenue totaled $2,999,173 for the six month period ended June 30,
        2010 compared to $3,401,304 for the same period in 2009, a decline of
        12 percent or $402,131. Revenue generated from the communications
        segment increased by 45 percent or $836,019 to $2,695,685 from
        $1,859,666 in the comparable period of 2009. Communications revenue
        accounted for 90 percent of the total revenues as compared to 55
        percent for the same period in 2009. Most of the increase in revenue
        from the communication segment is due to improvements in industry
        activity levels.

    -   The gross margin for the six month period ended June 30, 2010, showed
        an increase of 19 percent or $226,329 to $1,422,070, versus
        $1,195,741 in the comparable period in 2009. The gross margin as a
        percentage of sales increased to 47 percent from 35 percent. The
        gross margin in 2010 was higher due to continuing improvements in the
        communications segment.

Derek Begin, President of Global Energy Services Ltd., is quoted as saying, "The second quarter was hindered somewhat from the extra long spring break up this year, things are now moving and we look forward to a strong third quarter".

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 its patented Activator Hydraulic Submersible Pump ("HSP") to enhance and increase ultimate production in both conventional and unconventional gas, oil, and CBM wells. Global was founded in 1994 and is listed on the TSX-V.

More information about Global Energy Services can be found at

%SEDAR: 00006009E


For further information: For further information: Derek M. Begin, President and Chief Executive Officer, Don Jorgensen, VP of Finance and Chief Financial officer, Global Energy Services Ltd., No. 10, 1220-59th. Ave. SE, Calgary, Alberta, T2H 2M4, Tel: (403) 243-0820, Fax: (403) 243-3425, E-mail:, E-mail:, Web site at:

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