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Savanna Announces Termination of Arrangement Agreement With Western Energy Services Corp.


FOR: SAVANNA ENERGY SERVICES CORP.
TSX SYMBOL: SVY

Date issue: March 29, 2017
Time in: 7:30 AM e

Attention:

CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Savanna Energy Services Corp. ("Savanna") (TSX:SVY) announces it has terminated the arrangement agreement with Western Energy Services Corp. ("Western"), pursuant to which Western had agreed to acquire all of the outstanding common shares of Savanna on the basis of 0.85 of a common share of Western and $0.21 in cash per common share of Savanna.

About Savanna

Savanna is a leading contract drilling and oilfield services company operating in North America and Australia providing a broad range of drilling, well servicing and related services with a focus on fit for purpose technologies and industry-leading Aboriginal relationships.

- END RELEASE - 29/03/2017

For further information:
Savanna Energy Services Corp.
Chris Strong
President and Chief Executive Officer
(403) 267-6728
OR
Savanna Energy Services Corp.
Dwayne LaMontagne
Executive Vice President and Chief Financial Officer
(403) 214-5959

COMPANY:
FOR: SAVANNA ENERGY SERVICES CORP.
TSX SYMBOL: SVY

INDUSTRY: Energy and Utilities - Equipment, Energy and Utilities -
Oil and Gas
RELEASE ID: 20170329CC0022

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.



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