Day: June 21, 2017

FOR: HANWEI ENERGY SERVICES CORP.
TSX SYMBOL: HE

Date issue: June 21, 2017
Time in: 8:57 PM e

Attention:

VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 21, 2017) – Hanwei Energy
Services Corp. (TSX:HE) (“Hanwei” or the “Company”), today reported its
financial results for the year ended March 31, 2017 (the “2017 Fiscal Year”)
and provided an operational update. All amounts are in Canadian Dollars unless
otherwise noted.

Hanwei’s principal business operations are in two complementary segments of the
oil and gas industry as an operator and developer of its own producing and
exploratory oil and gas assets in Alberta and Manitoba and as a specialized
pipe supplier to the industry, both in Canada and internationally. For the
financial year ended March 31, 2017, a summary of the Company’s annual
financial results are as follows;

/T/

—————————————————————————-
Summary of the 2017 Fiscal Year Financial Results from Continuing Operations
in thousands of CDN$ except percentages and per share data

FY2017
—————————————————————————-
Pipe Oil & Gas Corporate Total
Revenue 4,947 2,528 7,475
Adjusted EBITDA 108 34 (942) (800)
Adjusted EBITDA Margin 2% 1% n/a -11%
Adjusted EBITDA per share (0.00) 0.00 (0.00) (0.00)
Net Income (loss) (2,427) (1,345) (1,512) (5,284)
Diluted EPS (Basic and diluted) (0.01) (0.01) (0.01) (0.03)
Weighted average number of outstanding shares Basic 194,201,234
Diluted 194,201,234

—————————————————————————-
Summary of the 2017 Fiscal Year Financial Results from Continuing
Operations
in thousands of CDN$ except percentages and per share data

FY2016
—————————————————————————-
Pipe Oil & Gas Corporate Total
Revenue 6,483 1,886 8,369
Adjusted EBITDA (1,981) (254) (8,231) (10,466)
Adjusted EBITDA Margin -31% -13% n/a -125%
Adjusted EBITDA per share (0.01) 0.00 (0.04) (0.05)
Net Income (loss) (4,056) (1,306) (8,259) (13,621)
Diluted EPS (Basic and diluted) (0.02) (0.01) (0.04) (0.07)
Weighted average number of
outstanding shares Basic 194,201,234
Diluted 194,201,234

— Revenues from the Canadian FRP pipe market increased by approximately

114% to $3.1 million (representing 63% of total Company FRP pipe sales
of $4.9 million for the year ended March 31, 2017) from $1.4 million in
Canadian sales for the prior year (representing 22% of total Company FRP
pipe sales of $6.5 million).

— Revenues from the Company’s China FRP pipe market for the year ended

March 31, 2017 fell to $1.7 million for the year ended March 31, 2017 as
compared to $4.6 million for the prior year. Notwithstanding these prior
results and subsequent to the year ended March 31, 2017 the Company has
secured FRP pipe sales contracts in its China market as of the date of
this news release totalling some $3.2 million. These orders are all
expected to be completed in the first half of the Company’s current
fiscal year ending March 31, 2018.

— The Company produced approximately 218 barrels of oil equivalent per day

(boe/d), including 81 barrels of oil per day(bbl/d), 611 mcf of gas per
day (mcf/d) and 35 boe/d of liquids for the year ended March 31, 2017.
The majority of the Company’s oil production was from its 13-33 and 13-4
horizontal Nisku wells at its Leduc Lands and flow test production from
its new 14-01 vertical well at its Entice Lands. For the year ended
March 31, 2016, the Company produced approximately 167 boe/d, including
75 bbl/d of oil, 379 mcf/d of gas and 28 boe/d of liquids.

— Oil and gas production generated revenues net of royalties of $2.2

million and net back of $0.8 million, equivalent to gross revenue per
boe of $31.99 with a netback of $10.05 per boe (or a netback margin of
31%) for the year ended March 31, 2017.

— Adjusted EBITDA from continuing operations for the year ended March 31,

2017 totalled some negative $0.8 million as compared to negative
Adjusted EBITDA of $10.5 million for the prior year. A one-time, net bad
debt allowance, net of provision write-off, of $7.3 million relating to
the Company’s disposition of its subsidiary in Tianjin China was
included in the Adjusted EBITDA in the prior year.

/T/

Oil and Gas Reserves

/T/

— The reserves of the Company were evaluated by Sproule Associates Limited

(“Sproule”), an independent qualified reserves evaluator, and set out in
their report dated June 13, 2017, in which Sproule has evaluated, as of
March 31, 2017, the oil and natural gas reserves attributable to the
Company’s PNG Producing Properties (the “2017 Reserves Report”) and
their report dated June 15, 2016, in which Sproule has evaluated, as of
March 31, 2016, the oil and natural gas reserves attributable to the
Company’s PNG Producing Properties (the “2016 Reserves Report”).

— The chart below provides a comparison of the 2017 Reserves Report to the

2016 Reserves Report and the “Proved” and “Proved Plus Probable”
remaining reserves of the Company therein. The positive increases in
both reserves and Net Present Value of the remaining reserves is due to
the ongoing and intended development activities of the Company at its
Leduc Lands and the addition of the two new wells at the Company’s
Entice Lands (yet to be placed on permanent production).

Remaining Reserves
——————————————
Mboe; After Tax
(M$) Gross Company Company
100% Gross Net
——————————————
2017 Reserves
Report
Total Proved 1,420.1 1,366.1 1,124.7
Total Proved +
Probable 2,242.7 2,161.0 1,814.4
——————————————
2016 Reserves
Report
Total Proved 978.2 912.2 764.5
Total Proved +
Probable 1,645.9 1,567.9 1,320.9
——————————————
Variance
Total Proved 442 454 360
Total Proved +
Probable 597 593 494

Net Present Values After Tax
————————————————————
Mboe; After Tax
(M$) @ 0% @ 5.0% @ 10.0% @ 15.0% @ 20.0%
M$ M$ M$ M$ M$
————————————————————
2017 Reserves
Report
Total Proved 26,544 21,083 17,381 14,773 12,865
Total Proved +
Probable 42,892 32,621 25,934 21,341 18,042
————————————————————
2016 Reserves
Report
Total Proved 14,218 10,832 8,473 6,828 5,659
Total Proved +
Probable 25,198 17,974 13,151 9,866 7,565
————————————————————
Variance
Total Proved 12,326 10,251 8,908 7,945 7,206
Total Proved +
Probable 17,694 14,647 12,783 11,475 10,477

— At its Leduc Lands and subsequent to the year ended March 31, 2017 the

Company re-entered two existing vertical wells (its 01-32-49-26W4/3 well
and its 02/16-29-49-26W4/2) into the Wabamun zone. The 01-32-49-26W4/3
well has produced during test production approximately 55 bbld of oil
with an approximate 50% water-cut. The 02/16-29-49-26W4/2 well has not
yet been placed on production.

/T/

Bank Debt

The Company continues to effectively manage its bank loans and credit
facilities. The total principal amount of all bank loans was $4.7 million as at
March 31, 2017 representing a 32% debt to equity ratio (total bank debt divided
by total shareholders’ equity). Management believes that the Company has
sufficient debt facilities to support its current operations and will continue
to assess its debt structure based on the requirements of the business.

Other

/T/

— General and administrative (“G&A”) expenses for the year ended March 31,

2017 were $4.1 million as compared to $11.5 million for the prior year.
G&A for the fiscal year ended March 31, 2016 included a one time, net
bad debt provision of $7.3 million relating to the Company’s disposition
of its subsidiary in Tianjin China. Not including for the bad debt
provision G&A expenses for the year ended March 31, 2016 were $4.2
million.

— As of March 31, 2017, the Company’s cash and cash equivalent balance

inclusive of short-term investments in Canadian GICs was some $2.4
million.

— As of March 31, 2017, the Company had a Net Asset Value per share for

its continuing operations of $0.14.

/T/

Hanwei will host a conference call to discuss its operational and financial
results for the year ended March 31, 2017. Graham Kwan, Executive Vice
President and Rick Huang, Chief Financial Officer of Hanwei will host the call.
Management invites analysts and investors to participate on the conference call:

/T/

Date: Friday, June 23, 2017
Time: 1:00 p.m., Eastern Time (10:00 am Pacific Time)
Dial in number: 1-888-542-1102 or 1-719-325-2359
A replay of the conference call will be available on the Company’s website
http://www.hanweienergy.com/.

/T/

About Hanwei Energy Services Corp.

Hanwei Energy Services Corp.’s principal business operations are in two
complementary key segments of the oil and gas industry as both an equipment
supplier to the industry (as a leading manufacturer of high pressure,
fiberglass reinforced plastic (“FRP”) pipe products and associated technologies
serving major energy customers in the global energy market) and as oil and gas
producer with properties in Alberta and joint venture interests in Manitoba.

Neither the TSX nor its Regulation Services Provider (as that term is defined
in the policies of the TSX) accepts responsibility for the adequacy or accuracy
of this release.

FORWARD-LOOKING INFORMATION

Certain information in this press release is forward-looking within the meaning
of certain securities laws, and is subject to important risks, uncertainties
and assumptions a description of which is set out in the risk factors section
of the Company’s Annual Information Form dated June 20, 2017 and Management
Discussion and Analysis for the year ended March 31, 2017 both of which are
filed with Canadian securities regulators and available on SEDAR at
www.sedar.com. The forward-looking information in this press release describes
the Company’s expectations as of the date of this press release.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY
DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS
REQUIRED BY APPLICABLE SECURITIES LEGISLATION.

– END RELEASE – 21/06/2017

For further information:
Graham Kwan
Executive Vice President, Strategic Development
and Corporate Affairs
604-685-2239
gkwan@hanweienergy.com
OR
Yucai (Rick) Huang
Chief Financial Officer
604-685-2239
yhuang@hanweienergy.com

COMPANY:
FOR: HANWEI ENERGY SERVICES CORP.
TSX SYMBOL: HE

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170621CC0100

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: CLEARSTREAM ENERGY SERVICES INC.
TSX SYMBOL: CSM

Date issue: June 21, 2017
Time in: 7:14 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – June 21, 2017) – ClearStream Energy Services
Inc. (TSX:CSM) (“ClearStream” or the “Company”) is pleased to provide the
results from its annual meeting of shareholders held June 21, 2017 in Calgary
(the “Meeting”). A total of 66,700,016 common shares (“Common Shares”) of the
Company, representing approximately 60.67% of the issued and outstanding Common
Shares, were represented in person or by proxy at the meeting.

At the Meeting, each of the six nominees proposed by management was elected to
serve as a director of the Company to hold office for the ensuing year or until
his or her successor is elected or appointed. The numbers in respect of the
vote are based on the proxies received.

/T/

Nominee Votes For Votes Withheld
Number Percentage (%) Number Percentage (%)
Jordan Bitove 66,304,083 99.49 341,806 0.51
Herbert Clarke 66,307,062 99.49 338,827 0.51
John Cooper 66,307,062 99.49 338,827 0.51
Dean MacDonald 66,307,062 99.49 340,827 0.51
Sean McMaster 66,307,062 99.49 338,827 0.51
Peggy Mulligan 66,345,082 99.55 300,807 0.45

/T/

Shareholders at the Meeting also approved an ordinary resolution approving the
Company’s Performance Share Unit and Restricted Share Unit Plan (the “Plan”)
and ratifying performance share units previously granted to executive officers
of the Company under the Plan.

Additionally, shareholders re-appointed Ernst & Young LLP as the Company’s
auditors for the ensuing year.

About ClearStream Energy Services Inc.

ClearStream provides maintenance and turnarounds, facilities construction,
welding and fabrication, and transportation services to customers across
Western Canada. For more information about ClearStream, please visit
www.clearstreamenergy.ca.

– END RELEASE – 21/06/2017

For further information:
Dean MacDonald
Executive Chairman and Interim CEO
ClearStream Energy Services Inc.
709-237-9225
dean@tuckamore.ca
OR
Gary Summach
Chief Financial Officer
ClearStream Energy Services Inc.
587-318-1003
gsummach@clearstreamenergy.ca

COMPANY:
FOR: CLEARSTREAM ENERGY SERVICES INC.
TSX SYMBOL: CSM

INDUSTRY: Financial Services – Personal Finance, Financial Services
– Venture Capital
RELEASE ID: 20170621CC0097

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.