Canadian Energy Services & Technology Corp. Announces Acquisition of Catalyst Oilfield Services, LLC

CALGARY, ALBERTA--(Marketwired - Aug. 1, 2016) - Canadian Energy Services & Technology Corp. ("CES" or the "Company") (TSX:CEU)(OTCQX:CESDF) is pleased to announce that it has completed the acquisition (the "Acquisition") of all of the production and specialty chemical business assets of Catalyst Oilfield Services, LLC. ("Catalyst"). The acquisition of Catalyst will accelerate the expansion of the Company's US production and specialty chemicals operations with particular focus in West Texas and the Permian Basin. The effective date of the Acquisition is August 1, 2016. Customary to previous acquisitions completed by CES, consideration will be a combination of cash and CES common shares escrowed over a three year period. In addition, key employees of Catalyst have agreed to employment contracts along with non-compete and non-solicit commitments. Established in 2005, and headquartered just outside of Midland Texas in Gardendale, Catalyst is a West Texas based private company that provides production and specialty chemical solutions for a number of leading oil and natural gas companies.

"We are very excited to add the best independent West Texas based production and specialty chemical company to our team," said Tom Simons, President and CEO of CES. "In particular we look forward to working with Catalyst's top-tier leadership and their team. Catalyst has great customers in what we believe is the most prolific on-shore basin in North America. We also see many opportunities and synergies as we combine Catalyst with our JACAM operations. As we stated when we raised equity a few months ago, we hoped we could deploy much of that capital towards an acquisition that would accelerate growth for us in the Permian and advance our drive to be the clear number three oilfield chemical company in North America. By adding Catalyst we think we have accomplished that."

"We are very excited to be joining forces with CES," said Trey Womack, President of Catalyst. "CES shares our same company values and passion for excellence and is an oilfield leader for vertical chemical integration. They have grown by integrating the entrepreneurial spirit of individual companies into an organization that inspires growth through both guided autonomy and supportive cooperation. CES brings to Catalyst tremendous technical support with unique product offerings like solid chemistry and extended control corrosion inhibitors like SuperCorr^® which will benefit our customers tremendously. Our combined locations, products and people create synergies, not duplications."